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YOUR OPINION | “The budget is destined for a quick death and a payoff, just in time for the next GE.”
COMMENT | The desperate use of emotional blackmail by the finance minister
Doc: I’m certainly not a financial expert, economist or banker, but Budget 2021 looks pretty poor, even to my understanding. My main problem with the budget is:
1. The Covid-19 pandemic has caused the bankruptcy of many companies this year. Most of the remaining businesses barely survive. Most service sectors are not yet functioning or are operating well below capacity.
The loss of income among Malaysians is rampant. So how on earth did Finance Minister Tengku Zafrul Abdul Aziz realize that tax collection for this year is expected to increase compared to the year before Covid-19?
2. From a growth rate of -4.7 percent this year for the nation, Zafrul has projected a growth increase of more than 5 percent by 2021. How is that possible?
Are you in favor of a recovery of the “V” shaped economic growth curve that most economists had projected at the start of the Covid-19 pandemic but have now unanimously agreed that this is quite impossible?
3. The budget seems to give me the impression that Zafrul is saying: “Rakyat, in this devastating economic collapse of Covid-19, you are practically alone.”
Even the help offered to the Malaysian community appears to be a front.
4. And then there is the Jasa (Department of Special Affairs) monetary controversy of RM85.5 million. How to justify such a large sum to “make Prime Minister Muhyiddin Yassin look great again”?
In short, Zafrul lacks an understanding of the current economic environment and the social tensions to which the Rakyat are subjected.
Sinan Belawan: Zafrul is a banker, not a politician, and has said he is not interested in politics. It is a positive move of the current government to appoint a non-politician as Minister of Finance.
Malaysia’s economy is a consumption-driven economy. It is true that small and medium industries drive the Malaysian economy. The budget encourages local consumption.
The 2021 budget includes the people of Sabah and Sarawak, most of whom are bumiputera. The Constitution defines Bumiputeras as the Malays and the indigenous peoples of Peninsular Malaysia, Sabah, and Sarawak.
The 2021 budget is for all Malaysians. All deputies must vote for the 2021 budget.
Safefail: “He (Zafrul) has forgotten that small businesses are the backbone of the nation’s economy,” said columnist Mariam Mokhtar.
In fact, it had even targeted the Internal Revenue Board (IRB) to raise RM127 billion this year and RM144 billion next year, ignoring the severe impacts of the pandemic on businesses and employment.
So with these unrealistic targets, do we expect IRB to take an aggressive push? Most small and medium-sized enterprises (SMEs) are closing down or struggling to survive another day.
You should see the bigger picture of having lower tax collection and urge the IRB to take a softer approach, especially on SMEs, during this difficult time.
If more businesses fail, more unemployment will arise and there will be little income to tax. Any incentive or tax break you offer would be meaningless.
Ian2003: @Safefail, IRB has already been very aggressive. Just check CTOS and see how many taxpayers have been entered into the CTOS registry for non-compliance in paying taxes.
Businesses already need cash to survive, to pay overhead and employee salaries, and barely have enough to pay taxes up front.
Then there are those overly enthusiastic officers who blatantly tell you, we know you have been paying taxes but can afford to pay more, therefore these are expenses that are not allowed to be claimed and they pay the amount of differential tax along with the penalty.
I think, therefore I exist: Harapan’s former finance minister went out of his way to make sure everyone was treated fairly. The current one is doing everything it can to ensure that divisions and inequalities are not only maintained but perpetuated. I guess you don’t see a very distant future at the helm.
His budget is destined for a quick death and a reward, just in time for the next general election.
But it will be a boomerang because the biggest victims will be the Malays and the biggest beneficiaries will be the small group of elite bumiputeras who will still blame the DAP and the ‘pendatangs’ (immigrants) for the plight of their people.
Malaysia Fair: It is a “Malaysian” budget, not a Malaysian budget, and expecting support for such a racist budget would be out of the question.
The pathetic and unconvincing response from MCA and MIC reminded me how non-Malays used to be considered dumb by these two parties. It’s the same old story: they will run “begging” their Malaysian bosses and trumpeting to the whole world how they have sweated to get crumbs.
This is what the Malaysian parties want: a docile and submissive non-Malaysian group that will always “beg” them. They catch the best catch and throw some crumbs at non-Malays. Now you know why these Malaysian parties hate DAP and PKR.
The budget should not be endorsed in its current form. Zafrul and the PN government have given every reason to rule it out. It is a blatantly racist budget.
Maybe he’s just trying to get the Malays who support the PKR and Amanah to vote for PN. For Malaysian politicians, this is “agama, bangsa dan negara” (religion, race and country).
During the Umno / BN era they did it with deception, now they are doing it openly.
Anonymous_4702: What emotional blackmail? The finance minister is simply saying that many of our compatriots and businesses who desperately need help now would not get the money if the budget was not approved.
Wait for all the politicians to discuss and agree on their own agenda until the cows come home? By then, the damage to many livelihoods may have become irreparable. We must understand that now we are in a different and terrible time!
Once the pandemic is under control, go ahead and call a general election to resolve all the politics and shenanigans.
Cintaman: @ Anonymous_4702, are you saying the budget should be passed even if it sinks the country deeper into debt? And pass it on to posterity?
It is the minister’s job to ensure that the budget is pragmatic, balanced, and addresses all relevant issues. The inconsistencies noted should be addressed and the budget reviewed.
Shovel nose: Breakfast for breakfast, dinner for dinner. (living from hand to mouth). Although it is an old saying that describes the idyllic lifestyle of carefree souls, it somehow applies to some current situations and scenarios.
Leadership is very poor where it is critical. By right, a technocrat should seek ways to stimulate the economy and broaden the tax base in an increasingly shrinking and Covid-19 world, not wasting a single sen on unproductive allocations.
The fight for the immediate survival of the current government means that this is a Bersatu budget, not a Malaysian budget.
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