Govt. rules out further tax hikes ahead of 2026 Budget on Friday

Wednesday, 5 November 2025 00:26 - - {{hitsCtrl.values.hits}}

Cabinet Spokesman and Minister Dr. Nalinda Jayatissa

Cabinet Spokesman and Minister Dr. Nalinda Jayatissa yesterday reaffirmed that there will be no further tax increases in the 2026 Budget, emphasising that the Government’s focus is on providing relief to industries and sustaining economic growth.

Speaking at the post-Cabinet media briefing, Dr. Jayatissa said President Anura Kumara Disanayake had already made it clear that taxation levels would not be raised further.

“The expectation is to provide relief to as many industries as possible,” he said.

The 2026 Budget, which aligns with the policy framework “Rich Country – Beautiful Country”, will focus on building a production-oriented economy and mobilising the contributions of all sectors toward national development.

The Cabinet had earlier approved the presentation of the Appropriation Bill for 2026, which was tabled and passed in Parliament in October. According to the approved schedule, President and Finance Minister Anura Kumara Disanayake will deliver the Budget speech (second reading) on Friday.

The second reading debate will take place from 8 to 14 November, with the vote scheduled for 14 November at 6 p.m. The Committee Stage debate will follow from 15 November to 5 December, concluding with the third reading vote on 5 December at 6 p.m.

During the Budget sessions, Parliament will sit daily, including Saturdays, except on Sundays and public holidays. Sittings will begin at 9:30 a.m. on Mondays and 9 a.m. on other days, continuing until 6 p.m. to accommodate the extended debate.

Time will be allocated each day for five oral questions, one question under Standing Orders 27(2), and business under Standing Orders 22(1) to (6). Motions at Adjournment will be debated from 6 p.m. to 6:30 p.m., on a 50:50 basis between the Government and Opposition, except on vote days.