Tomorrow is a historic day. It will be the first time that a budget is tabled by an alliance other than BN. All eyes are on PH’s first budget. It is expected to be non-expansionary budget as the “new” Government seeks to manage the country’s finances amidst a mountain of debt.
Everyone should be interested to know what is in the budget because everyone will be affected. Will there be new taxes, e.g. capital gains tax (affecting people who invest in shares and properties), inheritance tax (affecting families), digital tax (affecting buying and selling online)? The Government has ruled out increasing cigarette tax so smokers’ wallets remain unchanged.
What are the infrastructure projects that are on or off? This affects jobs and the amount of money in the economy. Will the Government cut the size of the civil service which has pushed the national operating budget to such a high level?
Will the budget have more social elements, in which case more taxes will be required? What about healthcare and education, 2 sectors which need urgent reform and from which Malaysians are suffering?