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Friday, September 30, 2022

President presented a plan to build the country’s economy – Harsha de Silva

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SJB MP Dr. Harsha de Silva said that amendments should be made so that high income earners are taxed. He pointed out that due to the President’s tax policy, low income people will be greatly affected and said that a tax reform should be carried out so that high income earners pay more tax.

He said this while commenting on the interim budget presented by President Ranil Wickremesinghe at the Parliament building yesterday. He further informed about it.

President Ranil Wickramasinghe has presented a plan to build the country’s economy as an Interim Budget proposal.

It covers most of what we presented. In particular, 80 percent of the points opposed by the Podujana Peramuna are there. So the problem is how to implement this.

“We agree with the economic restructuring announced by the President. We say from the beginning that necessary steps should be taken to solve the economic problem.

“We had informed in 2020 to seek International Monetary Fund assistance. But the Podujana Peramuna Party said that they will have to walk over our bodies.

That is why the country has gone to the abyss now. But now they are forced to support this Budget.

“I cannot fully agree with the tax policy proposed by the President. Excise duty has been increased from 12% to 15%.

“At the same time, steps have been taken to levy a tax of two and a half percent as income tax. Accordingly, the tax will be increased to 20 percent. Low income earners will be hit the hardest by this tax. A tax reform is being implemented that will tax higher income earners. “We expected it. Therefore, we cannot be satisfied with this tax policy,” he added.

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