Day two of parliamentary debate on interim budget speech today
September 1, 2022 09:18 am
The second consecutive day of the parliamentary debate on the Appropriation (Amendment) Bill, presented by President Ranil Wickremesinghe for the remainder of the fiscal year 2022, is scheduled for today (Sep 01) from 9.30 a.m. to 5.30 p.m.
On September 02, the second reading of the interim budget speech will be debated from 9.30 a.m. to 4.30 p.m., after which the Bill is slated to be passed after the committee stage and third reading.
President Wickremesinghe, in his capacity as the Minister of Finance, Economic Stabilization and National Policies, delivered the interim budget speech or the second reading of the Appropriation (Amendment) Bill when the parliament convened at 1.00 p.m on August 30.
In the interim budget proposals, President Ranil Wickremesinghe proposed to increase the Value-Added Tax (VAT) from 12% to 15% with effect from today.
It is reported that President Wickremesinghe has signed the gazette notification with regard to the VAT increase.
Delivering the interim budget, President Wickremesinghe also stated that the government’s aim is to create a surplus in the primary budget by the year 2025.
