Finally they accepted the hard truth

jayathu · 1 Finally they accepted the hard truth Fri Mar 04, 2016 8:47 am

jayathu

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http://www.economynext.com/Sri_Lanka_cabinet_to_meet_on_contingency_liabilities,_new_taxes-3-4412-1.html

Finally govt accepted that they have to take some hard actions against falling govt revenue. Needed to fix this disastrous budget.

jayathu · 2 Re: Finally they accepted the hard truth Fri Mar 04, 2016 8:56 am

jayathu

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hoping that they will increases sensible taxes to reasonable rates. Specially taxes like income tax, PAYE tax and cooperate tax. Some people will say increasing cooperate tax will harm equity market. Yes in the short run but in the long run market will recover due to improvement in economy health will boost the equity market in much greater level.
Look what happened when govt did a popularity move by cutting taxes(cooperate tax, increasing PAYE tax threshold and reducing income tax level) govt revenue coming down drastically to a unstable level.

worthiness · 3 Re: Finally they accepted the hard truth Fri Mar 04, 2016 9:36 am

worthiness

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In the past, all parties made politically oriented monetary decisions to win the majority or stay in the power. This practice is no more valid as water is running over the nose. Rather blaming each other, quick economic plan to overcome the serious bottleneck is to be executed.

This could be painful to certain segments of community & corporations as well. Such attempt shall not be successful had not received full cooperation from oppositions, unions,civil organizations & countrywide voters. Reaching a consensus in this regard is a tedious task in this country.

hotstock · 4 Re: Finally they accepted the hard truth Fri Mar 04, 2016 9:51 am

hotstock

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No doubt last Nov budget was an utter failure. And budget is not something to trial, which shows level of maturity and skill of relevant individuals.. Ideally finance minister should resign in this situation. I voted for UNP But did not expect such a negligence and mismanagement

Quibit · 5 Re: Finally they accepted the hard truth Fri Mar 04, 2016 10:14 am

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A government can tax people, which is the most transparent way of putting the burden on a large public sector, subsidies and loss-making state enterprises on the people, or take debt and burden yet unborn future generations, or print money and generate inflation and currency depreciation.

hettdas · 6 Re: Finally they accepted the hard truth Fri Mar 04, 2016 10:35 am

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UNP's previous policies should be implemented. All loss making government organizations must be privartised or manage to make profits. Specially Air Lanka , Mihin air petrolium... etc
Also recruitement to the Art faculties must be reduced. Otherwise all arts graduates try to get government jobs after graduation. Student who are trying to do arts subjects at A/L must be discouraged.

Ryan Hudson · 7 Re: Finally they accepted the hard truth Fri Mar 04, 2016 12:55 pm

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We have to stay calm thats the only feasible solution at this moment.

chamith · 8 Re: Finally they accepted the hard truth Fri Mar 04, 2016 4:04 pm

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hettdas wrote:UNP's previous policies should be implemented. All loss making government organizations must be privartised or manage to make profits. Specially Air Lanka , Mihin air petrolium... etc
Also recruitement to the Art faculties must be reduced. Otherwise all arts graduates try to get government jobs after graduation. Student who are trying to do arts subjects at A/L must be discouraged.

Couldn't agree more.

Brinthan · 9 Re: Finally they accepted the hard truth Fri Mar 04, 2016 7:17 pm

Brinthan

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chamith wrote:

hettdas wrote:UNP's previous policies should be implemented. All loss making government organizations must be privartised or manage to make profits. Specially Air Lanka , Mihin air petrolium... etc
Also recruitement to the Art faculties must be reduced. Otherwise all arts graduates try to get government jobs after graduation. Student who are trying to do arts subjects at A/L must be discouraged.

Couldn't agree more.

100% I agree...All lost making companies should be privatized or manage to make profits...These are the companies real burden for our economy.....The Normal public bear the lost of this unproductive companies...
And the art faculty is the useless faculy in the srilankan education system...I don't know what is the contribution for economy for a art faculty student ..??They are the people always protest against government in front of fort railway station....This should be closed and government must implement technical studies...

D.G.Dayaratne · 10 Re: Finally they accepted the hard truth Fri Mar 04, 2016 7:43 pm

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I also voted UNP first time,Because total failure of Mahinda Chithanaya after 2010 mainly due to Basil R

Hoeever i do not agree privatization program implemented by UNP during previews regime
It was Crony capitalism Not privatization

Privatization is god provided it is done properly