September 1, 2024
In a recent address, Namal Rajapaksa, the presidential candidate of the Sri Lanka Podujana Peramuna (SLPP), outlined his plans to shift away from asset disposals and heavy taxation as strategies for boosting state revenue. Rajapaksa’s proposal focuses on fostering growth through investor-backed development and implementing a more manageable tax policy.
Rajapaksa criticized the current approach of selling state assets and imposing high taxes, arguing that it causes undue strain on businesses and local entrepreneurs. He promised to end this approach and replace it with a tax policy that balances state revenue needs with the capacity of businesses and individuals to bear the tax burden.
Under Rajapaksa’s proposed administration, there will be a concerted effort to protect and support local businesses and entrepreneurs. His plan includes engaging with investors to develop national assets rather than selling them off. He emphasized that the goal is to enhance state assets and generate revenue through strategic investments, rather than relying on asset disposals and punitive taxes.
“The focus will be on developing our national assets and creating a favorable environment for investors. We will ensure that our tax policies are fair and supportive of both businesses and the general public,” Rajapaksa said. “Our approach will ensure that state revenue is increased without compromising on the well-being of our local businesses.”
Rajapaksa’s commitment reflects a broader strategy to stimulate economic growth by leveraging private investment and reforming tax policies to foster a more conducive business environment. This approach aims to shift the focus from short-term asset sales to sustainable long-term development.
