The Hon. T.B. Sarath - Deputy Minister of Housing

¶ 01 [4.04 p.m.]

¶ 02 Hon. Deputy Chairperson of Committees, in this debate many in the Opposition tried to brand this as a Ranil Wickremesinghe Budget, an IMF Budget, or a liberal capitalist Budget, not a socialist one. They say so because they know that, when implemented, this Budget will realize the social, economic, and political justice that people yearned for over a century, and that threatens their narrative. Since 1965, they have distorted our politics to suit them—even fearmongering that if we came to power, those over 55 would be killed. The heirs of those fearmongers sit here today.

¶ 03 We expected an intelligent debate from Hon. Harsha de Silva and Hon. Kabir Hashim, who opened earlier days, but there was much sound and little substance.

¶ 04 To those who say this is not a socialist Budget: social evolution passed from primitive communal to slave, feudal, and now modern capitalist society. Communism was theorized as the next stage, with socialism as the transitional bridge, not a distinct permanent system with its own “Budget.” Our task is to deliver benefits to all people now.

¶ 05 Currently, the top 15% of households consume the largest share of national wealth, while the bottom 20% get only about 2.4%. Because of this inequity, a vast majority lack basic rights—food, clothing, health, education, equal justice, and enjoyment of nature. Our aim is to build a country where at least 85% can realize these rights. Call it socialism or whatever you like; this Budget is the starting point for economic democracy, economic, political, and social justice—with adequate allocations across headings.

¶ 06 For 2025, allocations include: Health Rs. 634 billion; Education Rs. 619 billion; Environment-friendly initiatives Rs. 483 billion; Housing Rs. 190 billion; Agriculture Rs. 254 billion—balanced across sectors to secure basic rights.

¶ 07 The Opposition says prices weren’t reduced. Since we took office, diesel fell by Rs. 36 and petrol by Rs. 23, benefiting all. Rather than removing taxes on school supplies, we are directly giving Rs. 6,000 worth of school supplies to children.

¶ 08 We increased pensions even before the Budget, providing fairness in a devastated economy. More relief will come; we acknowledge it is not yet sufficient but we have begun.

¶ 09 On agriculture: we raised the fertilizer subsidy to Rs. 25,000 per hectare and reduced diesel by Rs. 36. The paddy production cost per kg that we inherited was about Rs. 99.30; we brought it down to Rs. 87. As the NPP and the All Ceylon Farmers’ Federation always advocated, we computed a fair guaranteed price by adding one-third profit to cost: Rs. 90 cost plus Rs. 30 profit equals Rs. 120 per kg of paddy. This ensures consumers can buy rice at Rs. 230 per kg maximum. Paddy below Rs. 120 and rice above Rs. 230 are not acceptable; anyone wanting higher paddy prices can sell in the open market, but the consumer ceiling remains.

¶ 10 A major Polonnaruwa rice miller aligned with the Opposition allegedly tried to politicize prices—others sold Keeri Samba at Rs. 255; he sold at Rs. 300; when others sold Samba at Rs. 235, he sold at Rs. 280. Some use their mills to serve partisan agendas; we will act.

¶ 11 This Budget allocates across sectors to give people relief. On human-elephant conflict, we are rehabilitating 1,456 km of electric fences with funds to the Wildlife Department, plus Rs. 9 billion to districts and further funds to Mahaweli and Agriculture Ministries—multiple streams to strengthen ground action.

¶ 12 We also aim to produce 600,000 metric tons of big onion this season, saving about US$ 120 million (previously spent to import that volume). Funds are allocated to cultivate 30,000 hectares.

¶ 13 Hon. Deputy Chair, I will conclude. This Budget also proposes youth and cooperative farmer villages to channel funds to low-income and farming communities. The people will judge this Budget positively in the upcoming local government elections. We expect a resounding victory. Thank you.