Friday, October 23, 2009

2010 Budget Wishlists

The 2010 budget would be lies on government's concern towards prudent expenditures to reduce the deficits increasingly each year while at the same would not be neglecting commitments on spurring our economic growth.

The budget strategy should not be relying only to private sectors and participation of GLCs to stimulate the economy but instead it should be based on People(rakyat).

My point is very straightforward though that if we be able to enlighten all the commoners that comprises more than half of 26millions populations in Malaysia, it could possibly push our economy ahead.

Economicians and expertise says that Malaysia still not prepared yet to introduce a new system of tax that would only be channeled back the burden to user, which it would not help to stimulate our economics.

The option left to Government is efficiency in controlling expenditures in each of its department so the case wasting taxpayers money in buying some item with excorbitant prices like revealed two days ago by Auditor General. Instead, personal and corporate income tax should be allowed to reduce its rate this year for short term moves to push more spending amongst Malaysians in a plight of our economy expansion.

Some would say to compensate this, we need to introduce the GST(goods and services tax) or VAT(value-added tax), i would half-hearted agreed if only it would not effecting middle and lower income. GST should only be applied to imported goods & services that usually consumed by wealthy people or it would only oppress the wrongly target earners like Small and Medium Enterprises(SMEs).

Again, to me it is all depends on how well Government can curb their habitual in paying for extravagant prices that normally you can get really much cheaper in market. Example you'd be wondering what is happening to Government if they procured two Acer laptops(Acer Aspire5052) at whopping prices at RM84k or to be exact RM84,640. Or the case of filling up full tanks in one government's official car twice in a minute gap?Wonder where all of our taxpayers money gone easily? These are just plenty of misused taxpayers money by Government since the day i was having my university internships 3 years back,but no action taken still. Rather to impose new tax systems, i would call upon strict enforcement over tax collection by strengthen the implementation of collecting sales and services tax.

Most likely in the budget too, increasing the 'sins' and 'luxury' is one of options to help Government raised their revenues. Increasing the tax on cigar could curb the habit of smoking and adult smokers which in turn it would be able to reduce the healthcare budget as well.

Other than mentioned above, i would love to see several ideas address below would be taken in our budget:

1] More allocations would be allocated to improve public transportation as this area would definitely one of the choices for investors to consider upon if they would like to setup their offices here. We are losing very much productivity as well if continuously commuters going to office stuck in the traffic jam that in return would make investors think Malaysia away from their ideal business destination.

2]Improving infrastructure of rural areas and in balanced with continous development in urban areas to spur economy in widen areas. Government too should addressed the poverty issues in urban areas like by helping them in basic amenities considering the higher costs living regardless of colors,races or religion. Perhaps, it is time to introdue basic minimal wage that would help greatly to over-dependent on immigrants.

3]Government should advised our internet service providers to mark up to standard with the fees that they are charged to users,that most all of us generally unhappy with its quality services. Furthermore, the fees should be straight-forward not like what we are experiencing at moment, by having to pay this kind of amount for registration and some amount for others like upfront payment for example, fees for the modem or broadband itself which confused people alot. By providing faster connectivity with affordable package, it would attract people to subscribe an internet as well for pulling business coming into our nation considering investors would rely heavily on internet for their daily transactions. I would expecting an allocation from Government for this area in order to minimizing the digital gaps between people living in rural and urban area.

4]Our education should be accessible to all range and locations especially in rural areas, especially now our concern is bringing the gap nearer for the lower-middle income to mobilise their income greater in future. The pensioners that still having their kids in university should also be considered to have tax incentives.

5] Our Government are in danger due to solely rely on oil and gas revenues which the natural resource are not inexhaustable that may lead burdening rakyat to acquire it should it be depleted in 2011 like reported. Thus, Government should give incentives to boost findings and innovations to go for an alternative sources as we blessed with natural resources.

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