MP seeks realistic figures

IALIBU-Pangia MP Peter O’Neill is urging Government to be realistic with figures it highlighted in the Budget as most were “not true”.
He said some revenue estimates were overestimated.
O’Neill said the Opposition would support a Budget if it was for economic stability and lowering of taxes that encouraged investment in the country.
He stressed that the K16.1 billion revenues in 2022 would come from dominant players as indicated by Treasurer Ian Ling-Stuckey.
“But other taxes such as goods and services, salary and wages taxes, corporate taxes from companies is where the bulk is coming from,” he said.
“While the economy is struggling, we are squeezing the businesses; we are squeezing our people as well.
“I urge the Government to talk to the super funds, how much has the members withdrawn for the past three years?
“People are struggling to survive and are withdrawing their retirement funds.”
O’Neill said reforms such as ceasing recruitment and retiring aging population in the public service among others should be undertaken to decrease expenditure.
“The K13 billion allocated for Government operational spending in 2022 is too high,” he said.
“In fact, it’s more than what the country gets in revenue.
“We need to look at this expenditure.
“Debt level (in the) last few years has been difficult, many people jobless due to the pandemic.
“We should be living within our means.
“Even having a deficit budget, try reducing it to manageable level.
“If you want a dominant levy (Government-proposed super levy) do it across the board but also relieve other minor players in the industry so that they can invest more money and expand their competition ability to compete with dominant players.”
Alotau MP Charles Abel also raised concerns on the proposed super levy saying the Government has to understand the wider implications of such decisions.
Abel said: “The levy on Bank South Pacific Financial Group Ltd and Digicel has implications on an already depressed private sector.
“These two companies contribute a lot indirectly into the rural communities through their branches and tower networks, many of which are uneconomical.
“I fear that the wider impacts of these levies will far outweigh the short-term revenue gain projected by the government.”
Prime Minister James Marape said the proposed levy would not be implemented until July.
Parliament passed the Budget for next year by voices after a marathon debate.