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Article 201. Principles of Public Finance

The following principles shall guide all aspects of public finance in the Republic–

  • (a) there shall be openness and accountability, including public participation in financial matters;
  • (b) the public finance system shall promote an equitable society, and in particular—
    • (i) the burden of taxation shall be shared fairly;
    • (ii) revenue raised nationally shall be shared equitably among national and county governments; and
    • (iii) expenditure shall promote the equitable development of the country, including by making special provision for marginalised groups and areas;
  • (c) the burdens and benefits of the use of resources and public borrowing shall be shared equitably between present and future generations;
  • (d) public money shall be used in a prudent and responsible way; and
  • (e) financial management shall be responsible, and fiscal reporting shall be clear.