Tuesday, January 12, 2010

War cost country Rs 23 trillion- Siyambalapitiya

Deputy Finance Minister Ranjith Siyambalapitiya said that the Government had spent a total of Rs 23 trillion on the three-decade war.

This works out to Rs. 920 billion per year in the 25 years of war, which is now a saving for the government in addition to the targeted revenue budget per year.

The 2009 targeted revenue was Rs. 855 billion, and the government spends only around Rs. 2 billion on ministers, and Rs 278 billion on development.

According to the previous situation, compared to the current, the tax and price situations have not changed but have increased.

The expenditure towards war can be used for the benefit of the citizens by reducing taxation and prices of daily needs as the expenditure towards war is a balance after the liberation.

He also told the media on Sunday that the policy statement of Gen (Rtd) Sarath Fonseka is an impossible statement to be implemented in the current situation. To provide some of it, an additional funding of Rs. 350 billion will be required apart from the yearly targeted budget.

These statements’ implications definitely will lead to a high amount of currency circulation within the country which will increase the inflation rates of the country leading to a catastrophe of the livelihood, he pointed out.

He also said this is possible with the high tax amounts charged from the public. An amount of Rs. 1,500 will have to be additionally charged from individuals of the country.

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