The Hon. Dilith Jayaweera

¶ 01 Hon. Deputy Chairperson of Committees, having considered what has been presented so far in this Budget Debate, I believe the Sri Lankan people need an honest, sincere review of this Budget now. Often, both Opposition and Government contributions lack depth for a justifiable discussion. Much of it is shallow talk. Therefore, from an Opposition perspective, we must honestly discuss the Government’s positive background and attributes as well.

¶ 02 Notably, many leading businesspersons and medium-scale entrepreneurs feel it is easier to do business under this Government than before. We should value that. Earlier, one had to chase after politicians; there was a lot of that, and much criticism. Now, this has reduced. That is a good thing.

¶ 03 Politically, there is also a positive development: space has emerged to discuss a “new politics,” and newer voices are being heard. We appreciate that. But we must also say this openly: the very commitment to zero corruption that voters expected from this Government appears to be waning. Corruption allegations are surfacing; and, from the optics, some have substance. We must be vigilant and speak about it.

¶ 04 While politics has opened space for people like us, there are also signs of a relapse into old deal-making politics. There are efforts to crush democracy by pushing a one-sided politics and to control Opposition activity. I must state that. Yet, as the Opposition, we must sustain a constructive discourse to take the country forward. As the President, Anura Kumara Dissanayake, himself says: “If you have a better idea, tell us.” We are trying to do just that—speak about the good. I invite the Opposition as well: speak about the good; we cannot keep selling the old script. We are part of that discourse. The Government should not panic—this is not division; it is an attempt to lay the foundation for what is good.

¶ 05 Now to the Budget. What happened here? First, what is a Budget? If it were merely an income-expenditure statement, a four-and-a-half-hour speech by the President would be long. He even spoke about spending Rs. 50 million for about ten minutes. We appreciate his effort to stand and speak for so long. But did that speech contain a national vision? A path forward? It spoke of debt payments, of raising a lot of money, and of how it would be spent. Compare that to India’s Finance Minister Nirmala Sitharaman’s Budget speeches. As I said previously, the national philosophy embedded there is missing here.

¶ 06 Consider the new mandate you received. You cannot keep reciting the old tales. The people gave you a mandate to reject such past practices, not to dance on strings like puppets. Have you used this mandate? We expected a plan to move the country forward. Does this Budget show such a plan?

¶ 07 We are still on the old path; on the same rickety bridge. We talk about stabilizing fiscal numbers the old way to please the IMF—while devouring the grass, fruits, and mangoes of our own garden, and milking our cows to feed outsiders, leaving our people emaciated and impoverished.

¶ 08 Look at the data: poverty has tripled; unemployment has doubled. Wages have not truly risen; even claimed increases are offset by underlying taxes, so purchasing power has not improved. When wages rise, people should be able to buy more; otherwise, it is meaningless. We milk the cow for outsiders, and our people are left destitute.

¶ 09 You promised to remove VAT on health and school supplies. But now, fearing the IMF, you will not change it—you are tightening it. Even milk powder is being taxed. You tax the essentials, strip the flesh of our people, and send the milk out—how will our people rise?

¶ 10 You boast of a trillion-rupee primary surplus. Our socialist, Marxist, Leninist, Trotskyist friends now trumpet that to their cadres. But the truth is you found that trillion by taxing the dreams of our youth—on their hopes to buy a small car, build a home, and earn through digital technology.

¶ 11 I saw news that finance and leasing companies have extended Rs. 1,160 billion in vehicle loans. Vehicles have arrived; I will not argue that now. But did the small person benefit? Is this the reality of wealth creation born of tax-heavy extraction? Is this what we expected of you? Therefore, do not behave like blind devotees before the IMF or the West. We possess indigenous wisdom and self-confidence. Sri Lankans have endured the world’s great powers for long—do not discard our strengths and bow your head to subjugation.

¶ 12 It pains us because most of us came here thanks to free education; we bear a responsibility. Personally, I still believe in left-of-center politics, social justice, and fair distribution of wealth. We represent the honest poor; I come from that background. That is our belief system.

¶ 13 But today the opposite is happening. Why did you fail to spend even 20 percent of last year’s capital allocation? What does that mean? It means the country is standing still and heading toward near-term serious challenges. Only through capital expenditure does a country move forward and develop. Even to build a road, costs rise 15–20 percent every year. You cannot postpone everything, put money in the bank, and boast to foreigners—it will not work. We must discuss this and offer solutions.

¶ 14 A solution? Look at our external balance sheet. Our Net International Investment Position (NIIP) is a negative exceeding USD 50 billion. If we do not correct that, we are in deep trouble. Was there anything in the Finance Minister/President’s speech about how to grow wealth—not by taxing and squeezing innocent people, not by defrauding estate workers with Rs. 200, but by earning honest wealth and distributing it fairly? If it was there, where?

¶ 15 Therefore, we propose this: select strategic sectors, implement foundational reforms, and take the people into confidence through a national conversation on how those sectors will drive growth. Without bringing the people along, the country will not move.

¶ 16 Consider agriculture, tourism, apparel—many of these rely heavily on imports for final production. We must discuss how to reduce such import dependency. Likewise, our mineral resources—how can we utilize them with minimal import reliance to earn billions? Fisheries too can earn significantly without import inputs. Information technology is what our youth aspire to.

¶ 17 About 50 percent of our population are Gen Z and Gen Alpha. Without giving them opportunities, how can we think of moving forward? To correct the NIIP, we need at least USD 3–4 billion a year in FDI. To get there, we must move beyond a BOI-only mindset, open to the world, think strategically, and create the environment for relevant investors. We cannot invite global investors while saying our country is flooded with drugs, ridden with corruption, devoid of democracy, with a bankrupt political culture. We must create the environment and truly implement a single-window mechanism so investors can start work as they arrive.

¶ 18 This Government’s first mistake would be to deviate from the people’s mandate and aspirations. Do not try to advance with lies, scams, and theatrics; it is a tried-and-tested failed formula. Speak the truth and face reality—people will listen.

¶ 19 Also, stop manipulating the poor with paltry handouts. They are watching with great expectations. They looked to this Budget for relief, but they do not understand what they actually received. We must explain that the current path is unfortunate and unsustainable. Do better than what the President proposes—do what truly takes the country forward, not what is being done now.

¶ 20 I also make this request to Ministers: do not proceed with the proposal to procure 159 cabs. That would be the country’s largest corruption deal—it is utterly corrupt. I appeal to the Opposition too: do not take this bait. If you back this, the people will curse us as well.

¶ 21 Finally, if we are to build a State with an entrepreneurial mindset, we need a creative and honest Government. Only then will the country move forward. Despite people’s expectations, the Government is failing in almost every task. I conclude.

¶ 22 Thank you.