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Smart ways to protect markets when tax incentives backfire
As Kenya’s budgeting cycle reaches its peak, this is the moment to rethink the choice of fiscal instruments. Every tax break is a form of silent expenditure—a leakage that happens before revenue is even booked.
In 1902, French colonial officials in Hanoi, Vietnam, launched a clever-sounding plan to fight a rat infestation: they offered a bounty for every rat tail turned in.
At first, the results looked promising—thousands of tails were delivered. But then, the authorities noticed something odd: rats were still scurrying through the sewers—without tails.
