SEPT 29 — Is this it? This is not a Budget, what was announced yesterday by Finance Minister Najib Razak was vote-buying through the liberal use of taxpayers’ funds.
Yesterday was making Malaysians more addicted to handouts, the opiate of the masses.
Idris Jala, aka the salesman, can talk all he wants about GST and
Malaysia’s readiness to wean itself of subsidies and Najib can go on
about cutting the budget deficit but this government did this country a
great disservice yesterday: it mortgaged the future for short-term gain.
And it also did the virtually impossible: it cut taxes, gave out more
money and said that it would still cut the deficit. Najib should bottle
this miraculous potion and sell it to the US.
The finance minister unashamedly said later that Malaysian should
vote BN for more of WHAT WE HAVE TODAY! No talk about high-income
economy; reducing dependency on foreign workers, etc.
This is WHAT WE HAVE TODAY:
1) A completely corrupt political and civil service elite. The only
difference in these two groups is that it appears only the civil
servants are being charged in court. Ministers wantonly flaunt their
wealth, their wealth accumulation usually the result of kickbacks from
privatisation awards to their cronies.
2) A country divided. The mainstream Malay media and Umno have
positioned the Chinese as ungrateful. Under the veneer of unity, this is
a country fractured and in dire need of rehabilitation and
3) The country’s debt is rising and is at an all-time high. And it is
not 53 per cent of the GDP as announced in the Budget but 67 per cent.
This includes government guarantees. The red flag should be raised when
debt ratio to GDP is 55 per cent. It is now 67 per cent and you can bet
that a government which does not know anything apart from spending will
make our grandchildren pay dearly.
4) Rent-seeking has always been a feature of privatisation in
Malaysia. Now the leaders of this country offer us liars and award
contracts to companies which have no track record for billion ringgit
deals. The inflated cost will be borne by you and me and our children.
Yesterday’s Budget was very much in keeping with a BN government
which has tried to paper over cracks and gaps in this country by money.
It is like a parent who, devoid of any ideas of proper parenting, has decided to buy the affection of his children.
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