The Hon. Wijesiri Basnayake

¶ 01 Hon. Deputy Chairperson of Committees, today we debate the Gambling Regulatory Authority Bill, and the Regulations under the Public Debt Management Act and the Foreign Exchange Act. Since morning, government members have set out clear, substantive arguments. We have stabilized the economy and are now expanding it. Money supply dynamics are being misunderstood by the Opposition; I invite them to study M1 and M2 properly before alleging “money printing”.

¶ 02 Tourism is a major dollar earner; our 2025 target is three million arrivals, and we have already crossed 50% with the high season ahead. Enhancing entertainment options—including regulated gambling—matters for tourists.

¶ 03 Gambling spans betting, gaming, online gaming, casinos, ship‑board casinos, and junket operators. Proper regulation will: - Standardize casinos and betting, - Minimize social harm with clear rules, - Promote tourism, - Support economic growth via a professional, independent regulator.

¶ 04 The economy is widening: revenues in 2025 have risen versus 2024; fiscal outcomes are improving; tax revenue is up. Even as exogenous shocks arise—e.g., the US reciprocal tariff—we formed a negotiation team and got the 44% rate reduced to 20%. The President explained our approach, including with India; it is regrettable when this is distorted for politics. Bring your no‑confidence motion if you wish—we welcome a serious debate on the economy. Our policies aim to secure our children’s future and build a strong nation. Join us in that work.