Crash of economy has begun: UNP
The main opposition UNP today warned that the collapse of the economy of the country had started with the passing of the ‘Revival of Underperforming Enterprises and Unutilised Assets Bill’ in Parliament.
UNP General Secretary Tissa Attanayake told a news conference today that the fall of the economy is imminent just like it had happened in Greece and Italy. He said draconian laws had resulted in the economic recession in those countries as well.
Mr. Attanayake said the UNP would begin protests against the Underperforming Enterprises and Unutilised Assets Bill when the party leader Ranil Wickremesinghe returns from abroad on November 17.
Referring to the upcoming budget, the UNP General Secretary said people had lost faith in it because it had become a mere piece of paper as none of the policies put out in it over the years have been implemented. “This has been visible after 2005,” he said.
Mr. Attanayake said the budget this year should be one which gives concessions to the people and a considerable salary hike for the public servants and for the private sector. However he said it is likely that it would be the same at it had been during the past years.
In the meantime he said the people will have to suffer the consequence of the wastage of funds that had taken place as a result of Sri Lanka trying to win the bid to host the next Commonwealth Games. Mr. Attanayake said Rs.400 million has been wasted for this. He charged that funds have been wasted because the government campaigned for the bid the way it is campaigning for an election in the country. “Banquets were held for the delegations of the voting nations at the final ballot held in the West Indies just like they are held for the voters here during an election,” he charged.
Courtesy: DM Online
Hail the Prophet Attanayake,
According to his lordship, the Crash of the economy has begun.
What he fails to recognise is that Crash of the UNP began many years ago and is now complete.
Tissa, get rid of that venerated limpy leader and all will be well.
To Mr. T.Attanayaka (G/S) UNP,
You are in a glorious voyage of day dreaming. Why
not get into your senses and search for the fox who
followed the poor goat for something edible to fall
down behind its hind legs.
TA’s analysis of the economic failures of Greece and Italy is well off the mark. These two countries, and also Spain, followed unwise budgetary policies which led to their economic downfall. Income Tax was low while spending was high. They overspent on social benefits, health, education, housing etc but income via taxes and exports etc were low. Soon the treasury was emptied. They did not observe the financial policies of member nations of EU. They have now gone with begging bowls to EU to help them out. In order to do so these countries will have to impose austerity measures such as high taxes and low spending. These measures are bound to be unpopular with people who were used to an easy life, at expense of the government. Naturally, this led to popular uprisings and change in governments. Any government that is chosen by the people can do little but to follow austerity measures imposed by the EU, in order to be granted billions of Euro loans to salvage their economies. These IMF loans are for revival of their economies with correct economic policies.
In SL, “Revival of underperforming enterprises and unutilised assets” Bill is to ACQUIRE BACK by the government those profitable STATE ENTERPRISES which were sold by the UNP, when they were in power, to their rich cronies, who have stripped the companies of their assets. They have become losing ventures. It is fair that the government reclaim them back FOR THE PEOPLE, in order to make them once again profitable ventures for the benefit of the people and the revival of our economy, after the defeat of the LTTE.
UNP’s TA is making a false analogy by comparing with economic downfall of Greece and Italy, with Spain and Portugal also in the ofing.
SL is on the road to economic victory with the correct economic and budgetary policies, to be passed in Parliament in due course. Our people will also have to endure some austerity measures in order to achieve economic success. This is happening around the world, even in the rich West. We cannot expect our government to give handouts to all and sundry. Where is the money going to come from? We need to export more and import less. We need to be self sufficient in food. We need to expand tourism. We need a fair fiscal policy. We need a balanced budget.
so, are you happy now, fools…….?!