A Personal Finance Blog for Malaysian: Budget 2011 - How do you feel?

Sunday, October 17, 2010

Budget 2011 - How do you feel?

What are the implication of Budget 2011 for average Malaysian?

My view after reading a number of blogs and comments:

  1. It burdens the Rakyat
    1. Service tax up 1% instead of down. Probably you and me to contribute another RM10 to RM20 per month at least to the Government.
    2. Additional service tax on Astro (I think at least 80% household subscribed to it)
    3. Mobile phone sale tax exemption not relevant to many as the price already so low and almost all has one or two handset.
    4. No additional tax relief for the low-to-middle income group.
    5. Cheaper branded stuff has nothing to do with me.
    6. 50% stamp duty exemption only for 1st time home buyer, not for me also.
    7. Nothing mentioned on education reform (everyone knows this is a serious problem)
    8. Nothing mentioned on improvement on basic necessity for the low-income. 
  2. It is more Civil Servant friendly than for normal guy like you and me
    1. More allocation for Operational expenditure, mainly directly linked to Civil Servant's benefits
    2. More benefits for Civil Servant only - 90 days maternity leave?? Low productivity gets lower.
  3. More mega-project for big boys (and Umnoputras)
    1. You and me will bear the price, for sure.
    2. We don't need another 100-storey building! Malaysia office space is oversupplied probably for next 10 years.
  4. Questions
    1. How can the government predict the private investment? just a bunch of bullshit.
    2. Why never mentioned on improvement to control and deal with wastage and corruption as if it doesn't exist, how ridiculous?
    3. Why spend RM65 million on renovation on PM residence? The condition is really that bad and need so much? Just a way to take money from the country to benefits his "own people".
More reading from the Pro - Tony Pua and Lim Kit Siang.

Personally, I feel rather sad. I feel that BN focus on how to make money rather than how to draft a budget that helps the ordinary taxpayer and low-income people to have a better living.