JVP protests increasing of taxes on businesses in an environment of sweeping bankruptcies

The tax policy envisaged in the Budget 2023 proposals is nothing but a double whammy on the people living under terrible economic hardships, the JVP says.JVP MP Vijitha Herath participating in the debate on budget 2023 in parliament said that the businesses have collapsed and the economy is in doldrums. “It is wrong to slap more taxes on businesses at such a time. It brings to mind the old Sinhala adage Gahen wetuna minihata gona enna wage(man falling from a tree being gored by a bull).

“The government says it would sell off the loss making public ventures. We demand to know the logic behind earmarking the Sri Lanka Insurance Corporation to be sold. The insurance corporation made a profit of Rs 11 billion last year. On what grounds has the insurance corporation been listed among the loss making public ventures for the restructuring,” the MP queried.

He said that the government is now attempting to give away the profit making public ventures with the hope of getting hold of a huge chunk of funds which could be pumped to solve some of the temporary problems. “They should think of the long term consequences of the methods being employed to solve the crisis,” MP Herath said.