The government will run into a serious financial crisis as it has failed to give legal effect to the taxes proposed in the budget to raise revenue for the financial year under review, former External Affairs Minister G.L. Peiris said yesterday.
Addressing a meeting in Tangalle yesterday, Prof. Peiris said though the government proposed various taxes such as Super Gain Tax, Mansion Levy and all, none of them had been enacted in Parliament in the form of laws to give them legal effect. Therefore, he said, none of these taxes would be valid.
"The budget is a fairy tale. The government cannot raise revenue now," he said.
Commenting on the Treasury Bond issue, he said , for the first time, a person who had renounced loyalty to Sri Lanka, had placed his signature to the currency notes of Sri Lanka. He said this situation had arisen with the appointment of Arjuna Mahendran, a Singaporean, as the Central Bank Governor. Prof. Peiris held Prime Minister Ranil Wickremesinghe responsible for this appointment, and said it warranted a no-confidence motion against the government.
Also, he said the proposed electoral reforms should be enacted in the form of 20th Amendment through a majority government, and the present minority government should be replaced through a no-confidence motion.
Once that is done, he said, President Maitripala Sirisena could appoint someone commanding the majority support in Parliament as the Prime Minister.
Comments - 26
jolly bird Tuesday, 02 June 2015 05:59 AM
FIRST OF ALL LETS SEE WHERE ABSENT MINDED PROFESSOR IS HEADING FOR via DM Android App
Cyril n Monday, 01 June 2015 06:55 PM
If there should be a crisis now it is from the misdeeds of the previous regime in which, good for nothing, GLP also was a minister.
dulan Tuesday, 02 June 2015 07:10 AM
The crisis was created by the governance of MR your boss
Danesh Wijeratne Monday, 01 June 2015 07:10 PM
Hello GL are you talking from your mouth? When the previous govt. made hell with public money and when they ruined the economy where were you. You were part of them right?. They are 1000 times better than you all.
Amila Monday, 01 June 2015 09:03 AM
Public in financial crisis since 1948.
susantha Tuesday, 02 June 2015 01:58 PM
Gl Peiris your time has passed,you have been a complete failure all your life,the UN was a disaster,I am economics and a law grad from Melbourne University,I can do a better job than you in any field,chuck this up you have been a failure,give a younger Man a chance,
Think Tank Monday, 01 June 2015 09:15 AM
If this government is in a financial crisis then the previous government has made this country into financial crisis for another 50 years by taking so much debt.
Coconut Republic Tuesday, 02 June 2015 02:29 PM
How can he do that, since he is one of them mentioned but you!!
Haalmassa Monday, 01 June 2015 09:23 AM
Dried Karola Face
sam silva Monday, 01 June 2015 07:54 PM
Dear GL What has been your contribution to any govt? You are a hanger on to enjoy the perks. When you were Foreign Minister - Sajin dictated terms-- you were a puppet. Of the 54 Sri Lankan embassies- 45 were manned by MR cronies as Ambassadors. Did you ever raise issue about that. Do not talk about the economy- you were in charge of our embassies. Pls reply how you approved these unqualified cronies as ambassadors. Pls retire for the sake of the country
Premalal Monday, 01 June 2015 01:53 PM
Brilliant my dear professor brilliant, you only took 10 years to figure it out.
.Push Tuesday, 02 June 2015 03:07 PM
Old professor did not understand it when they were in power.
punchirala Monday, 01 June 2015 09:36 AM
Hello GL are you putting the blame on this government for blunders and corruption of the MR government you were part of it?
Hubert Monday, 01 June 2015 09:06 PM
You did law because economics is hard to learn if this government within 5 months heading for a disaster it is your rule that ruined the economy 5 months is not enough to recover from grave financial crisis
DP Monday, 01 June 2015 09:44 AM
Be Quite and Let the government to handle its duties.
jolly bird Tuesday, 02 June 2015 03:36 PM
THE UNPOPULAR voice of an absent minded professor who helped MAARA and his gang of robbers to rob the wealth of the country. via DM Android App
jolly bird Tuesday, 02 June 2015 03:45 PM
TOGETHER THEY. ROBBED BUT LONELY THEY FACE THE INQUIRES . via DM Android App
Miyuru Monday, 01 June 2015 09:51 AM
With the opposition majority, government cannot pass the bills needed to levy the taxes. Only solution is to dissolve the parliament and go for fresh polls. Let the new parliament pass the 20A.
jolly bird Tuesday, 02 June 2015 03:48 PM
Absent minded pothey gur via DM Android App
TONY Monday, 01 June 2015 09:47 PM
PROFESSOR, WAS OUR ECONOMY VERY HEALTHY BEFORE 8 JANUARY 2015???? IF SO WHY DID WE GO ON BORROWING EVEN THROUGH BANKS ON BEHALF OF THE GOVT
sadees Wednesday, 03 June 2015 10:49 AM
laksiri Monday, 01 June 2015 10:14 PM
GL must understand that while he was duty finance minister under chandika was worst financial position in the country history. G.L. you better retired and stop all these nonsense, you are working day and night to secure corrupted people in the country. do you have any human dignity and respect ???
Sincere Monday, 01 June 2015 10:19 AM
Just ignore him. He is panting after his dash from the backdoor of Sirikotha.
Coconut Republic Monday, 01 June 2015 10:29 AM
Yes, thanks to the beyond capacity borrowing! !! Can you declare to the public as to how much was borrowed during your great time?
fayaz Tuesday, 02 June 2015 09:56 AM
you are educated man,stand for truth justice and for the people not for positions and be a tool in bringing fraudsters ,crooks,drug dealers,ethanol importers,womanisers,peodophiles,playboys,incompetent fools back in to power..
Lanka Watch Tuesday, 02 June 2015 04:15 AM
Wishful thinking by out of date professori
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.