2026 Finance Act – Shameful!!!
The newly-proposed Finance Act 2026 has triggered widespread alarm among citizens and economic observers, who describe it as yet another harsh blow to an already struggling population.
Critics say the Act mirrors the deeply unpopular J.J Saffa Finance Act of 2018, which many believe contributed to significant economic hardship and whose effects are still felt today.
Under the 2026 proposal, taxes on essential commodities—including fuel, tomatoes, eggs, and rice—are expected to increase. This comes at a time when the cost of living is already at record highs, and households are fighting to stay afloat. Paradoxically, while taxes on basic necessities are set to rise, alcoholic beverages appear to receive comparatively lower tax adjustments, raising further concerns about the government’s fiscal priorities.
Public unease is also intensifying over the broader 2026 National Budget. Economic analysts warn that it may repeat the worrying pattern seen in the 2025 Supplementary Budget, where the government drastically cut critical allocations for Agriculture, Education, Health, and other key public services. At the same time, expenditure on presidential travel reportedly surged by over 300%, prompting accusations of misplaced priorities and blatant misuse of state funds.
Commentators and civil society groups are describing the situation as “daylight robbery,” arguing that the continued financial burden on citizens represents a pattern of exploitation under the current SLPP administration.
Many fear that if enacted in its current form, the 2026 Finance Act will deepen economic hardship, stifle growth, and further erode public trust in government.
The debate now intensifies as the nation awaits parliamentary deliberations on the controversial bill.
