ZAMBIANS should not allow a visionless PF to continue governing them because the negative consequences of its failed policies like replacing VAT with General Sales Tax will hurt them, says Hakainde Hichilema. In a brief statement, the opposition UPND leader said the 2019 national budget was not tenable.
“To start with, it is anchored on deficit financing, living beyond one’s means,” stated Hichilema.
“This is worsened by the deteriorating economic conditions such as depreciation in the local currency (kwacha), reduced export earnings, lower tax income (due to job losses, increased business failures and overall economic decline).”
On Sunday, Hichilema advised the PF government to drop or not implement their unwise and inappropriate idea of replacing VAT with GST.
“As we have argued before, GST is penal, more costly and difficult to collect,” Hichilema stated.
“Overall, the GST introduction is likely to result in the treasury collecting less tax revenue to support health, education, food security and other social services.”
The opposition leader noted that GST would hurt households, the general citizenry, savings and small and large businesses, something that would lead to further business closures and consequently more job losses.
“Without doubt, GST will slow down even further the already declining economic growth,” stated Hichilema.
“PF’s poor leadership has already caused so much damage to our country and people’s lives. As such and for once, PF should listen to our sound advice for the good of our economy and people.”