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KUALA LUMPUR: Barisan Nasional has declared only conditional support for Budget 2021, which will be voted on by MPs in Parliament on November 23.
Datuk Seri Najib Razak (BN-Pekan) said that the 42 Barisan MPs would only support the 2021 Budget if two of their demands were met: a blanket moratorium on loan repayments until June 30, 2021 and allowing Malaysians a One-time withdrawal of RM10,000 from your Employee Provident Fund (EPF) account 1.
“The support of my friends and I are subject to the approval of these two matters.
“Our support for this budget is conditional,” he said during an hour-long speech as president of the Barisan Nasional Backbenchers Club (BNBBC) while debating the 2021 budget in Parliament on Tuesday (November 10).
Najib was responding to Datuk Seri Ahmad Maslan (BN-Pontian), who asked if Najib agreed that the 2021 budget should be amended before MPs voted on it.
“He (Ahmad Maslan) has read my mind. I want to point out that this Budget is drawn up in extraordinary time and if we want to amend it, we must do it because they are unprecedented situations, ”he said.
Najib’s comments echoed opposition leader Datuk Seri Anwar Ibrahim’s position on the matter.
Anwar told Parliament on Monday (November 9) that Pakatan Harapan might not support the 2021 Budget if the concerns of its lawmakers are not addressed.
Najib described the extension of the loan moratoriums until June next year and the one-time payments from the EPF as bold and conventional steps, and said that these two measures could increase the circulation of cash in the economy when public spending is limited.
“Not a single person has said that the money withdrawn from EPF cannot be recovered in the future.
“The government’s responsibility is not to deny taxpayers access to their money when they are desperate.”
Instead, Najib said, the government’s priority should be to find ways to ensure that EPF contributors who were forced to withdraw funds from their account 1 are not left with a low balance after the pandemic ends.
“Find ways to increase your savings at the fastest rate,” he said, adding that the government should also help EPF make more profit once the Covid-19 pandemic is over by offering them lucrative contracts.
At the same time, Najib said that EPF withdrawals should be a one-time payment and not scheduled monthly payments.
“These RM 10,000 can be used to pay off outstanding loan repayments, rent, insurance, children’s school fees, and much more.
“On top of that, that money can be used as capital to start a small business. This would help those who recently lost their jobs, ”he added.
Describing the 2021 Budget as a “wartime budget,” Najib said the loan moratorium should be extended to everyone in the B40 and M40 income group.
He noted that criticism on social media came not only from those in the B40 group, but also the M40 group who were severely affected by the Covid-19 pandemic.
“Many in the M40 are not satisfied because Budget 2021 does not benefit them much.
“Is the government going to wait until the M40 group becomes the B40 income group before granting loan defaults (M40)?” I ask.
Under the 2021 Budget, B40 borrowers who received Bantuan Sara Hidup (BSH) or Bantuan Prihatin Rakyat (BPR) loans will have two options: a moratorium on their installments for three months or a reduction of their monthly repayment by 50% for six months. . .
M40 group borrowers can also apply for the same assistance, but must self-declare their income reduction to guarantee repayment assistance.
The 2021 budget, which will see more than two weeks of debates in Parliament, will be voted on by parliamentarians at the political stage on November 23.
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