Opposition criticises 2025 Budget

Tuesday, 18 February 2025 01:49 - - {{hitsCtrl.values.hits}}

SJB MP Dr. Harsha de Silva asserts Budget speech bore no fundamental differences from predecessors
Says JVP and NPP will have ideological questions to answer as they opposed such policies for 40 years
Opines if Govt. embracing social-market economy, they see it as a ‘victory’
Former State Minister of Finance Shehan Semasinghe commends Budget’s neoliberal direction, noting it aligns fully with IMF-backed policy framework

The 2025 Budget, presented by President and Finance Minister Anura Kumara Dissanayake, has drawn sharp criticism from Opposition lawmakers, who claim it is a continuation of the previous administration’s economic strategy rather than a departure from the past.

Main Opposition – Samagi Jana Balawegaya (SJB) MP Dr. Harsha de Silva asserted that the Budget speech bore no fundamental differences from its predecessors.

Although not outright dismissing the proposals, he questioned the NPP-led Government’s ideological implications. “What was discussed here was a neoliberal program. The Janatha Vimukthi Peramuna (JVP) and NPP will have ideological questions to answer. If they opposed such policies for 40 years, but now accept them, what was the purpose of their past opposition?” he said, answering to queries posed to him post-Budget speech at the Parliament premises yesterday.

Dr. de Silva pointed specifically to key economic reforms, such as the restructuring of State-Owned Enterprises (SOEs) and the continuation of market-based fuel and power pricing formulas, as policies that they had once vehemently opposed but now appeared to endorse. “If they now support establishing a Holding Company for SOEs or agree to the fuel and power pricing formulas, we must ask why they opposed them before?” he said, contending that Sri Lanka could have progressed much earlier had such opposition not been in place.

Despite criticism, Dr. de Silva acknowledged that if the Government was now embracing a social-market economy, it would be a welcome shift. “We see it a victory,” he added.

Later, in a post via ‘X’ he noted: “Budget2025 embraces Econ liberalisation – the very policies they vehemently opposed for 40 years. While I welcome their belated recognition of market reforms, imagine where #lka could be if they hadn’t blocked these measures since 1970s. Better late than never, but at what cost?”

Former State Minister of Finance Shehan Semasinghe taking to ‘X’ commended the Budget’s neoliberal direction, arguing that it aligns fully with the International Monetary Fund’s (IMF) policy framework.

“Unlike the hypocritical political policies that previously sabotaged golden opportunities for economic progress, this Budget prioritises a neoliberal framework, aligning fully with the policy direction set by the IMF,” he posted.

He also noted that the National People’s Power (NPP)-led Government remains an unaltered continuation of the economic strategies initiated by former administrations.

“I appreciate President Anura Kumara’s approach in advancing the liberal economic program,” Semasinghe added.

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