Ranawaka says tax reductions political ploy

Monday, 5 November 2018 01:01 - - {{hitsCtrl.values.hits}}

Says it will do little to solve long-term economic problems, repay debt

The Jathika Hela Urumaya (JHU) yesterday claimed that the tax reduction announced by the Finance Ministry last week was purely an effort to remain in power and was not for the long-term benefit of the economy.

The newly-appointed Treasury Secretary had acknowledged that the tax reduction would only last for three months, charged MP Patali Champika Ranawaka in a media statement. The statement said that the appointment of Mahinda Rajapaksa as the Prime Minister by President Maithripala Sirisena had created uncertainty in the public sector. Ranawaka pointed out that United Nations General Secretary António Guterres had also raised concerns over the situation prevailing in Sri Lanka and the travel advisories issued by foreign countries could negatively affect the country’s tourism industry. “Around 40% of tourists come to Sri Lanka during November to February but the recent situation could hinder our chances this year.” He stated that due to the current situation, foreign investors had been pulling out of the stock market and warned that repaying debt would become more challenging if the present conditions continued.

“This is the first time in history that a President of this country has switched parties. Therefore we would like to say that President Maithripala Sirisena has lost the mandate given to him in 2015.”

Ranawaka also charged that President Sirisena had violated the Constitution by appointing Rajapaksa the Prime Minister. He also criticised the decision by the President to prorogue Parliament. (NS)