I believe in competitive markets’: Sajith promises tax cuts to help businesses
Posted on October 20th, 2019
Courtesy Ceylon Today
Presidential candidate of New Democratic Front (NDF) Sajith Premadasa pledged to reduce existing taxes and introduce reforms to the current tax system to encourage entrepreneurs.
Addressing a meeting of entrepreneurs, Premadasa said his future administration will create an environment where entrepreneurs can gain more opportunities to widen the scopes of their businesses.
“Our economic policy will be established according to national interests. We will give maximum benefits to entrepreneurs so, that they can expand businesses.
For those who are unemployed, I will ensure there will be many job opportunities and we will ensure that through a strong economy and economic policy⦠While we use the free market system to generate wealth, we also have to be cognisant of the aspect of redistribution of wealth and income.
By that I do not mean taxing the business class, not at all, I think they are already heavily taxed. I’m not the usual tax and spend politician. Rather, I would reduce existing taxes and reform the tax system to encourage private entrepreneurship to grow and expand. So in summary I believe in competitive markets, but I also believe in social justice,” he elaborated.
October 20th, 2019 at 5:37 pm
Good. Far better than Gota’s promise to get rid of income tax for individuals.
Only honest companies pay correct tax. Crooked companies get away.
Honest companies can invest these instead in employment generating projects. This is the only way to reduce unemployment within the country without burdening the state. So this is a clever promise by Sajith.
However, what really happened in the last few weeks is the oppositte. A large number of political appointments were made into state entities! A disaster.