The Hon. Ajantha Gammeddage

¶ 01 Hon. Presiding Member, we debate Head 912 of the Finance, Planning and Economic Development Ministry at a time when the people entrusted us with power to manage a nation that suffered a severe economic collapse. We have undertaken disciplined economic management of revenue and expenditure.

¶ 02 The Finance Ministry’s Head is critical because it must scientifically present how revenues are collected and spent. Tax is the main revenue source. Past wrong policies and poor examples led people to avoid taxes; some sought to escape the tax net. Major tax frauds occurred; decisions by some Finance Ministers deprived the state of large revenues, encouraging evasion.

¶ 03 Today, people believe in paying taxes again, trusting proper management. Collections no longer require excessive effort; citizens are willing and believe funds will be managed correctly. Our task now is to manage the economy properly, as outlined throughout this month’s debates.

¶ 04 Funds have been rationally allocated to scientifically structured ministries, enabling proper expenditure and economic management. Tomorrow we will pass the Third Reading; thereafter, benefits will flow across sectors, giving economic confidence to the people.

¶ 05 Another major funding avenue is borrowing. Previously, loans were taken on commissions and mismanaged, resulting in today’s burdens. We believe borrowing must be for proper projects that drive growth. We will pursue that path.

¶ 06 Historically, state enterprises were mismanaged, with tax revenues used to subsidize loss-making SOEs, only to prepare them for sale, not profit. Now, we are intervening to make all SOEs profitable through management changes, so they contribute to revenue. In another one to two years, Government-intervened enterprises will become profitable. The Opposition resents that what they failed to do is being achieved through proper management.

¶ 07 We do not manage the economy from cold rooms; we work from villages and cities, uniting all. In my Matara District, we are preparing to cultivate fallow paddy lands to contribute to the economy, securing funds via Provincial and Local Authorities and instituting proper management.

¶ 08 Aligned with public expectations, our capable team will steer the economy correctly. In the upcoming local government elections we will gain strength, channel funds to villages, repair rural roads and revive the rural economy. We are mobilizing the people and our branch committees with plans to develop villages, collect reasonable taxes from the prospering people and run the state. We assure the people of relief. Thank you.