Opposition MPs criticise 2027 Budget over cost of living, spending and lack of relief

Opposition MPs have criticised the 2027 Budget presented in Parliament on November 12, arguing that it fails to address the cost of living, poverty, unemployment, difficulties faced by small businesses and weaknesses in Government spending.

Opposition Leader Sajith Premadasa said the Budget had failed to address what he described as the most pressing issue facing the country’s 22 million people — the struggle to meet day-to-day living costs.

Speaking to the media after the Budget was presented, Premadasa said it offered no adequate response to rising commodity prices, the cost of living or inflation.

He also cited figures he attributed to the International Monetary Fund and the World Bank on educated youth unemployment and poverty, arguing that the Government had failed to provide a credible programme to reduce poverty.

Premadasa said the Budget also lacked meaningful assistance for micro, small and medium-sized enterprises, which he described as the backbone of the economy and a major source of employment.

“There is no relief whatsoever for MSMEs that have been devastated by the crises that have unfolded in the country. This is merely a hollow, parrot-like budget, devoid of any humanity,” he said.

Sri Lanka Muslim Congress Leader and Samagi Jana Balawegaya MP Rauff Hakeem focused his criticism on the Government’s ability to use the funds allocated through the Budget.

“The efficiency of the Government in spending the money is very wanting. This is the issue,” Hakeem said.

He argued that large allocations were of little value if ministries and State institutions were unable to spend them effectively.

Hakeem said the Budget contained little of significance apart from increases in allowances and salaries for some public servants.

“The proof of the pudding is in the eating. These people allocate monies, but they cannot spend,” he said, claiming that only a limited proportion of allocations made in the previous Budget had been utilised.

SJB MP Ajith P. Perera said the Budget had failed to deliver the fundamental policy changes voters had expected from the Government.

He said the proposals were insufficient to bring about the structural reforms that had previously been promised.

“We had hoped that a zero-tax policy would have been introduced as the Government promised to the people earlier, but that did not happen,” Perera said.

He added that expectations of a major shift in economic policy had not been met.

Illankai Tamil Arasu Kachchi MP Shanakiyan Rasamanickam compared the Government’s approach to a cricket team holding back its strongest bowlers for the closing stages of a match.

He argued that the Government had the fiscal space to provide greater relief immediately but was choosing to hold back resources for later.

Rasamanickam warned that delaying relief could prove politically and economically costly.

“I feel the Government has made a mistake by not giving the relief that it can give, holding it back for later, and by the time it gives the relief it will be too late,” he said.