YOURSAY | ‘Well done, Guan Eng for taking care of the disadvantaged and plugging the leakage.’
Malaysiakini’s live report on the Budget 2019 speech
Anonymous 728021502366367: The Education Ministry is the biggest recipient of the budget.
Previously, the Prime Minister’s Office under former premier Najib Abdul Razak received the largest allocation. That’s why all the taxpayers’ money was literally sucked away by Umno.
The Pragmatist: An excellent budget planning, especially with the increase in education where improvements are much needed, as well as the focus on getting the rest of Malaysia connected with Internet, healthcare and helping the poor.
Good overall plan. Now it’s the execution.
Sulaiman: The budget is in good hands if past record of Finance Minister Lim Guan Eng running Penang is the reference.
Well done, Lim, for taking care of the disadvantaged and plugging the leakage. Just keep both eyes on public-private partnership, now also jettisoned by UK.
Vgeorgemy: Fiscal deficit going up to 3.4 percent is a concern for the rakyat. We hope it is only a temporary phenomenon.
People Power: The Harapan government must have a plan and the determination to reduce the 1.7 million public service workforce so as to cut down the more than RM8 billions opex (operations expenditure) per month.
This is one of the biggest challenges the new Malaysian government has to overcome.
Keanjin: Simpletons here don't understand economics.
By simply saying higher budget as a result of higher taxes isn't good, you're overlooking the point that the new government are better stewards and the increased budget will stimulate the economy with a better outlook for the country in the long run.
Wira: This is an expansionary budget where able citizens are being taxed more.
I don't relish in paying more taxes so that the government can spend more. I want to see some planned effort to reduce operating expenditure. I'm not seeing that.
In fact, I'm seeing the reverse. We risk suffering from a sovereign fiscal downgrading with this budget if we keep on spending should oil price drop significantly.
Simpletons here think expansionary budgets are good.
We have one of the most inefficient civil service in the world. No plan to outsource or divest? Keep on expanding the government? Very soon we go the Greece way.
Kader: The 100 additional personnel that MACC wishes to recruit should come from within the government staff.
We have 1.7 million government employees and placement within the services will save cost.
ZNJH: Awesome end to the speech. It summed up the sentiments of all who voted for Harapan.
Putrajaya refrains from cuts but deficit set to spike
Cogito Ergo Sum: I am very impressed with this maiden Harapan budget. I think the cabinet listened to the people and there are no significant taxes that will raise the cost of living.
By providing incentives to employ the over 60s, the government is preparing for an ageing society and giving hope that there is a place for the experienced.
Prudent: Phew! No allocation for PM Dr Mahathir Mohamad’s national car project. A positive budget overall.
But the increase in casino tax and cancellation of petrol subsidy is negative for the economy and for the Middle 40% (M40), and Bottom 40% (B40) groups. And the five percent real property gains tax is negative for an already beleaguered housing industry.
But overall, Lim’s 2019 budget should head off a recession and the slowing of the economy in 2019 and help the nation to heal financially from MO1's (Malaysian Official 1) excesses.
However, there are no tax breaks/incentives for both domestic and foreign investors to take advantage of the rush of investments into Southeast Asia as supply chains relocate out of China as a result of the trade war and rising cost in China.
Putrajaya limits new taxes, turns to Petronas to cover GST hole
Patriot1: I suppose this is one of the instances where the government will have to dip its hands into its standby kitty, Petronas.
While I don't think it’s a good way to resolve financial problems, it’s very much a viable way to address the country's pressing issues without having to overburden the rakyat.
Probably the shareholders of Petronas will have to take a hit, I suppose it’s still the country's interest first.
With prudent financial management, we should be able to pull through to shine again provided Harapan’s internal party politics doesn't screw up the new government.
Anonymous_8fe6849d: As an expert on GST, I reckon a lot of the GST refund is fraudulent sales.
The government must investigate every refund claim and convict any fraudulent claim.
Anonymos: A huge tax increase up to 50 percent of existing income tax is possible if only the very lopsided zakat system is reformed to make it a deductible item from taxable income, instead of from net tax payable (a tax relief, instead of tax rebate).
A huge portion of the population is not paying any income tax to support our public expenditure. Go figure.
On the other hand, religious bodies are flush with money to carry out all sorts of liberty- sapping activities like moral policing.
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