The Real Truth Behind the 100 day Yahapalana  Programme of  the UNP
Posted on August 13th, 2015

Chandrapala Hitihamillage.

So far it has not been explicitly highlighted the real truth behind the so called 100 day programme of the UNP. Ranil Wickramasinghe very carefully manipulated the SLFP presidency of Maithreepala Sirisena to obtain the support of some MPs and Ministers of the SLFP party to become the Prime Minister representing a minority party perhaps for the first time in the political history of Sri Lanka.  He did this deliberately to come out with his 100 days election stunt to cheat voters. Since his responsibility was only for 100 days, he was in a position to give a much better bag of concessions but he was careful not to over do it as he very well knew that the public would then become suspicious about his move.

Only a few percentage of income earners pay income taxes in Sri Lanka and that is also a relatively lower percentage of their income when compared to other countries.  Yet any government has to meet heavy recurrent expenditure relating to the provision of free education, free health facilities, security and other commitments such as administrative expenses, provision of subsidies and payment of salaries and pensions etc. let alone capital expenditure . It is a very well known fact that the total tax revenue is hardly sufficient to meet the recurrent expenditure. The deficit has to be met either by borrowing from the domestic market or from the foreign market. Heavy borrowings could lead to a debt trap as in the case of Greece. Hence to ease this burden to some extent, it is vital to have indirect taxes such as selling petroleum at a slightly higher price than the imported price as it gets distributed among all income earners. Considering the services provided by the government, every income earner is duty bound at least to pay a small amount of their income to the government either by way of direct taxes or indirect taxes. Unscrupulous people like Champika Ranawaka gave wide publicity to this fact to hoodwink the voters without knowing the ABC of economics. Moreover, they went to the extent of slinging mud at the previous government by saying that the balance between and the import price and selling price was misappropriated, deliberately hiding the fact that such income is credited to the Deputy Secretary’s Account in terms of Financial Regulations.. Quite unexpectedly, the 100 day programme boomeranged on them when they ran out of funds to meet the expenses. This compelled them to borrow heavily from the domestic market by way of Treasury Bonds. They violated the previous practice of borrowing on the average of around Rs.1 billion worth of treasury Bonds and borrowed ten times that amount which led to the controversial and fraudulent Treasury Bond issue of Rs.10 billion defaming even the good name of the Central Bank for the first time.

3 Responses to “The Real Truth Behind the 100 day Yahapalana  Programme of  the UNP”

  1. Fran Diaz Says:

    Mr Hitihamillage, this is a good analysis. Thank you.

    I also think we have to add the Attempt to form a Federal State for Tamils into their 100 Day Program.

  2. Susantha Wijesinghe Says:

    C H !!! We see in the news people earning Millions and Millions. So what is the Inland Revenue doing. ??? I believe the Officers take Hand Outs, and fail to see such large incomes. We can ask whether Mahendrans Son-in-Law is paying Taxes on his earnings, from The Treasury Bonds Saga. IT IS MY POINT OF VIEW THAT THE INLAND REVENUE OFFICERS ARE IN, FORCED HIBERNATION. The Millionaires hardly pay any Taxes.

    As for RUIN ILL, He has no clue how to govern a country. He said recently that he will export CARS AND SHIPS. He is in a Dream-World of his own. May the Lords above deny him the Driving Seat.

  3. Ananda-USA Says:

    200 Years scince that DAY OF INFAMY on March 2, 1815, when our Motherland was BETRAYED to the British,
    I offer the following INDICTMENT of the TRAITORS of 2015:

    THE STAMPEDE OF THE SHIP-JUMPERS!

    Half-a-Jump, Half-a-Jump
    Half-a-Jump, Onward!
    Into the Valley of Treason
    Into the Jaws of Dishonor
    Jump the Ship-Jumpers!

    Bribes to the Left of them
    Jobs to the Right of Them
    Power in Front of Them
    Cudgels to the Rear of Them
    Jump the Ship-Jumpers!

    Half-a-Jump, Half-a-Jump
    Half-a-Jump, Onward!
    Into the Valley of Tears
    Driven by Nameless Fears
    Jump the Ship-Jumpers!

    Jostled from the Left of them
    Jostled from the Right of them
    Massed Asses to the Front of them
    Hoots of Rage to the Rear of them
    Jump the Ship-Jumpers!

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