I don’t know about you, but I didn’t watch Najib’s Budget 2016 speech. I thought it would be too painful to listen to. Not just because of the bad news but because of the thought of what could/might have been.
For a start, contrary to mainstream business wisdom, we could have managed without the regressive goods and services tax. It is regressive because it has passed the burden of tax from the rich to the entire population, even those who are poor.
The GST is expected to raise RM27bn this year since its implementation on 1 April 2015. Compare this to the revenue foregone of RM13.8bn from the discontinued sales and services tax, as estimated by Najib last October. So that means we have stumped up almost double the amount in consumption taxes.
This RM27bn raised from GST this year is also much higher than Najib’s October 2014 forecast of RM19.4bn (RM23.2bn GST – RM3.8bn exempted items).
No wonder Malaysians are hurting.
In 2016, GST is expected to rake in RM39bn, burdening the rakyat even more. According to Najib, the discontinued sales and services tax would have raised only RM18bn, hardly enough to compensate for the drop in oil prices – or so he says. So, again this means we are coughing out more than double in consumption taxes.
Full article on Aliran website.
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You will likely get only 4.5% return for your EPF this year!
Austerity (plus higher taxes) has come to 1Malaysia.
Speechless, just dont know what to say anymore !!! 1pm looks bodoh, talks bodoh and indeed is bodoh, however, he managed to get a “donation” of 2.6b and set up 1mdb to dig deep into the nation’s wealth, and yet he is untouchable and his position is as firm as a rock to the dismay of his mentor, Dr M…
Najib’s Budget 2016 is an austerity budget that shrinks the resources for key sectors, such as education, skills development, industry development, public transport sector, welfare, women’s health, youth etc. Such development are deprived funding and will hurt ordinary Malaysians, especially in view of the current slow economy coupled with our high indebtedness, high youth unemployment and overall underemployment, low women’s labour force participation rate, and the new unpredictable forces facing our local market under TPPA.
Yes, we are in for grim times ahead.
Only 20% of budget meant for developmental expenses. The rest is used to pay the bloated civil servants.
Melaka folks can earn extra income as extras for gangster movie now filming with India Superstar Rajanikanth. Can earn so.e spate money as the budget does not help the needy much.
Rafizi Ramli and Tony Pua to hold a talk on Budget 2016 on 31 Oct 2015 in Penang.
Can someone tell us the venue of the talk?
BEST LINE OF COMMENTS ON THE BUDGET GOES TO LIEW CHIN TONG..
A Budget BY NAJIB, OF NAJIB, FOR NAJIB (or is it with Rosmah????)….
Massive cuts were imposed on education, welfare and social spending but Prime Minister’s Department not only did not cut back on its spending, more was allocated for 2016 (from RM 19 billion in 2015 to RM 20.3 billion in 2016) and taking a higher proportion from the national coffers. In 2016, the Prime Minister’s Department is taking 7.6 percent of the total budgeted expenditure. A decade ago in 2006, the Prime Minister’s Department only took up 2.67% of the total budgeted expenditure. In 2007 and 2008, it occupied 3.81% and 3.4% of resources respectively. After the disastrous electoral outing of… Read more »
Liew Chin Tong asks why the PM’s Department is getting an ever higher allocation of RM20.3 billion while the allocations for most other ministries are reduced. He says Budget 2016 has failed to address the effects of GST on Malaysians.
https://m.youtube.com/watch?v=Dw-NbSI_dKo
This Budget shows we are in desperate measures.
Yet we are sold to believe Malaysia is in good hands.
Who would believe in a Snake Oil Salesman?
Lest we want to, desperate to, in self-denial to Want To Believe in Malaysia Boleh Naik Jeep!
Never in the history of Malaysia have we been led to such dire straits by a leadership bent lying to destroy Tanah Air Cinta Ku. No thanks to MadHatter of Helang Island for his legacy.
Subsidy cuts and other things Najib didn’t tell you in Budget 2016 https://www.malaysiakini.com/news/317039 Prime Minister Najib offered a list of good news under Budget 2016 which included a hike in civil servants’ pay, increase in BR1M cash handouts, and Goods and Services Tax rebate for mobile phone purchase. But where is all the money coming from when the country is facing falling revenue from a slump in commodity prices? Malaysiakini uncovers the ‘bad news’, by breaking down Budget 2016 for you based on ministries which have suffered the worst cuts. What the premier failed to mention in his budget speech… Read more »
The 2016 Budget will allocate a total of RM265.2b to support Development Expenditure and Operating Expenditure Of this amount RM215 billion is for Operating Expenditure while RM49 billion for Development Expenditure. Emolument make up the bulk of the country’s Operating Expenditure in 2016 with a share of 26.6 %.
Despite all the cuts announced in the Budget 2016, the Operating Expenditure is expected to be above 80% with the balance being the Development Expenditure. It certainly very costly to run our country the BN style.
PMO a super ministry to absorb more jobless 1Msia graduates to become obedient civilians to cast the votes?
This Budget serves one purpose: To bluff the entire population of MalaysiaBoleh. It increases allocation to PM’s department. It increases GST revenue but deducts from public universities allocation (to these morons, education is dispensable). Note: Parents, be prepared for higher education fees in public unis. It takes from the higher tax paying states to pay for development in less tax payer states like Sarawak. Tax Money is Not Enough. With increase revenue from GST, it still is in the red, so time to tax from the rich (Yang is still happy with this???) It promises affordable housing but not to… Read more »