Budget panders to IMF whims and fancies: JO

Joint Opposition (JO) MP Bandula Gunawardene said the budget was sure to fail as in it the government was trying to increase foreign investments by relaxing laws for foreigners and imposing excessive taxes on the people.

“This is a more liberal budget which would not offer any benefits to the people,” he said.

He said the finance minister could not present a budget beyond the conditions laid down by the International Monetary Fund (IMF) for a loan negotiated by former finance minister Ravi Karunanayake.

“According to the agreement it is the IMF which decides the expenditure of the country for the next three years. The finance minister cannot present a budget beyond the policy framework given by the IMF,” he said. (Ajith Siriwardana and Yohan Perera)