Geagea Rejects New Tax Hikes, Suggests Keeping Last Year's Budget
Lebanese Forces chief Samir Geagea announced that his party will make a suggestion to the cabinet to keep the current's year's state budget the same as last year's and pointed out that his party rejects additional increases in taxes in light of the current circumstances.
“We have discussed the economic, social and financial conditions in the country yesterday. We are not pleased with all the measures taken until this moment and believe that a 30-year old heavy burden of faulty financial and economic practices have led to the situation we are living now,” said Geagea during a Lebanese Forces meeting Friday evening.
“In principle we reject any increase in taxes at the time being. Our ministers will suggest to the cabinet some clear proposals related to keeping the state's 2017 budget the same as last year's. We can't afford an additional expenditure of 2 or 4 thousand billion LBP,” he added.
Geagea however stressed saying: “On the other hand, we adhere to a group of reforms capable of improving the the state's financial situation and not through imposing a new batch of taxes.
“Squandering (of public funds) is huge and corruption is even bigger and bigger, it is a long process to get out of this situation. We need a package of measures to begin with today and lasts from one to three years. But today, until we reach this goal we must reduce the size of expenses to avoid imposition of taxes.”
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