Sunday , July 25 2021

It does not ignore the revenue group M40, says Asli



BUDGET 2019 | Although the group of revenue B40 has been declared the winner in the budget in 2019, the government does not neglect the M40 revenue group, says Ramon Navaratnam, chairman of the Center for Public Policy Studies of the Asian Strategic and Leadership Institute.

"I do not think that Pakatan Harapan government has gone as far as possible, first focusing on category B40, which shows its priority. A middle-income group can wait a bit for more concessions.

"Rome was not built in one day. You can not make a radical change in the budget for a year when restrictions are so strong, revenue is down, costs and debt are on the rise and we have to look at the budget deficit so this will take some time," said he is for SETimes. Bernama.

He commented on the concern over the increase in inequality in the country's income, published by the Malaysian Consultative Council (MPM).

In a statement yesterday, MPM said that the budget for 2019 does not address large differences in revenues between Bumiputera and non-Bumiputera, between urban and rural groups, and between groups of income B40, M40, T20.

As for MPM Economic Consultant Akhbar Ali, the remarks that the seizure of government assets in non-strategic companies was questioned, Ramon described them as unfair because sales could generate income for the benefit of the poor.

In the budget in 2019, Finance Minister Lim Guan Eng proposed four steps to encourage government property, including reducing share in non-strategic companies and implementing a public-private partnership model for public projects related to land-use transactions through an open tender mechanism.

Ramon said through the budget in 2019, the rich could do much more to help groups of income B40 and M40, such as raising taxes on property, death and inheritance taxes.

"We want a better distribution of income, a balanced growth and a more just society … and this is the way forward … then we will have more stability and national unity," he said.

The government proposed to allocate RM314.5 billion for the 2019 budget, compared with RM290.4 billion in the 2018 budget.

From this figure, RM259.8 billion for operational costs and RM54.7 billion for development costs.

Bernama


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