Shadow Minister for Treasury and Finance

PNG faces revenue shortfall: Shadow Minister

In a statement, Shadow Minister for Treasury and Finance, Ian Ling-Stuckey, said: “Based on the latest IMF oil price projections and using the figures in the 2019 Budget, PNG is facing a 2019 revenue shortfall of at least K638 million.

Shadow Minister welcomes World Bank report

Shadow Minister for Treasury and Finance, Ian Ling-Stuckey, said: “It is positive that international organisations, even those where governments control the Board of Directors, can bring in technical expertise and more independent commentary.

“There is much wisdom in the report, especially in terms of stimulating private sector development through competition rather than backing government besties and cronies, as well as a good focus on getting agriculture growing again.

Govt blamed for failing non-resource tax target

His response follows the Internal Revenue Commission’s (IRC) announcement of successfully collecting K8 billion in tax revenue for 2018.

“However, after excluding a large and unexpected mining and petroleum tax bonanza of nearly K700 million, all other IRC collections are K500 million less than the government wanted in 2018. This is part of the fake revenue that I identified in my budget response.

Government forcing up prices in 2019: Opposition

Shadow Minister for Treasury and Finance, Ian Ling-Stuckey, says over 70 new tax increases have been imposed from 1 January 2019.

“This includes a 15 percent tax increase for wheat flour used for making basic items such as bread – lifting the tariff level to a massive one-quarter of imported costs. You can get around this tariff increase, but only if you buy a bag of flour that weighs over 50 kilograms. This is economic lunacy!

Opposition disappointed with 2019 Budget

In a statement, Shadow Minister and Kavieng MP, Ian Ling-Stuckey, said so much has been spent on a Port Moresby centred APEC – now was the time to deliver the policies that could tap into all of the potential benefits of APEC and distribute them throughout PNG.

Govt’s sovereign bond option ‘risky’

The Shadow Minister for Treasury and Finance, Ian Ling-Stuckey, said the Treasurer is not admitting that a sovereign bond is now the wrong path for fixing the foreign exchange crisis crippling PNG’s economic growth.

Ling-Stuckey was responding to the Deputy PM and Treasurer, Charles Abel’s trip after leading the international roadshow to market PNG’s first ever sovereign bond.

Govt's 100 Day Plan failure: Opposition

Shadow Minister and Kavieng MP, Ian Ling-Stuckey, said audited accounts for SOEs and Statutory Authorities, for the 2017 financial year, were not tabled in Parliament by June.

“This was Point 19 of the plan – and becomes yet another broken promise. The Alternative Government would fulfil this promise as it is vital for helping to re-build confidence in the PNG economy,” said the Shadow Treasurer, Ling-Stuckey.

Alternative Government has better policies: Ling-Stuckey

“The Alternative Government welcomes Prime Minister’s increasing engagement with PNG businesses and a renewed understanding that PNG must embrace the opportunities of the Indo-Pacific region,” says Ling-Stuckey.

“The Alternative Government also agrees that the key issues facing PNG businesses include ongoing foreign exchange shortages, a lack of support for PNG’s small and medium-sized enterprises, a slowdown in the economy and the importance of trade and investment.

Families to suffer from govt’s tariff increases: Ling-Stuckey

“Since forming government in 2017, the National Government has organised to increase prices on 918 items,” reveals shadow minister and Kavieng MP, Ian Ling-Stuckey.

“These price increases will start coming through early in the new year. A government more in touch with the high cost of living facing our people would not deliberately increase prices that mainly suited their business besties.”

Ling-Stuckey said the biggest negative impact will be on family food budgets.

Potential repeated mistakes worry Opposition

The Government will hand down the Budget this week and the alternate government is worried the government will keep cutting key areas while still putting out the rhetoric that everything is fine.

Shadow Minister for Treasury and Finance and Kavieng MP, Ian Ling-Stuckey, said the 2018 budget needs to deal with the foreign exchange and job crises facing PNG.

“Frankly, we are concerned by the 2018 budget strategy which indicates the government is committing to deficits that are much larger each year than even contained in the other budgets.