Thread by @scheekeong

Belanjawan is a moral document reflecting commitment of the govt to its promises & values. #Belanjawan2023 demonstrated 4 key approaches;

(Posting the cute cartoons @UMonline published today)

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1) MORE FOR RAKYAT -Bigger DE but more disciplined & strategic spending, focus not on mega projects but vital infras, schools, hospitals, roads, public bus, airports & ports, hawkers centres, internet infras. There's even an RM100k/district for immediate action on potholes.
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Procurement will be open tender & govt will table legislations on fiscal responsibility and govt procurement, landmark fiscal disciplining measures on whoever incharge.

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2) EMPOWERMENT NOT HANDOUTS - Dasar memberi joran. Cash transfer is retained, but more focus on job creation, encourage hirings of grads, school levels, TVET grads, vulnerable groups (women, OKU), automation to reduce migrant labour & increase high pay local tech workers.

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There is also a more progressive approach towards wealth sharing - BERNAS 30% to farmers, a more equitable personal income tax rate, more progressive industry tax incentive schemes based on revenue, job creation etc, targetted subsidy on electricity tariff.

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3) COMPASSIONATE APPROACH - Madani is translated into life transforming policies; improved STR with better consideration for size of household, additional food basket/voucher, menu Rahmah, jualan Rahmah with 30% price reduction on essentials, increase EPF savings.
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Also commitment to re-strengthen middle class, with tax rate cut with savings upto RM1300, bigger relief in income tax (medical, additional epf relief, sports) etc.

More disposable income for Rakyat will bolster domestic consumption vital when global demand is lower.

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4) Revival of SME - ~98% businesses are SME, many suffered in C19. Key policies; tax cut,RM40B credit, digitalisation grant, RM1B facilities for SME automation/digitalisation, tax relief for ACE,LEAP, MAIN listing, ESG/netzero initiatives, improving ease of doing business.
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