UNP warns of higher taxes

Thursday, 13 September 2012 02:42 - - {{hitsCtrl.values.hits}}

The main Opposition UNP yesterday warned that worsening exports among other issues would result in the Government resorting to higher taxation.

“As Sri Lanka’s exports continue to decline, the Government would have no choice but to increase taxes,” UNP MP Dr. Harsha de Silva told a press conference yesterday.

“The Central Bank has attempted to explain the decline by reasoning that lower global demand is responsible. But the Government is not assisting entrepreneurs,” Dr. de Silva claimed, adding that disregard for economic good governance, transparency, and law were also undermining exports.

“The budget deficit for the first half of the year is four per cent. I do not see any way for the Government to prevent this from doubling by year-end unless it taxes the people more. Growth based on loans is unsustainable and the Government has failed to deliver on the post-war economic boom it promised in 2009,” the UNP MP added.