The following are the salient points in Prime Minister Abdullah Ahmad Badawi’s 2009 Budget speech. The 2009 Budget is Abdullah’s fifth since taking over as prime minister from Dr Mahathir Mohamad in October 2003.
Gov't to spend record RM208 bil for 2009
The total expenditure was set at RM207.9 billion for 2009 compared to RM176.9 billion in 2008.Of this amount, RM154.2 billion is for operating expenditure, while RM53.7 billion is for development expenditure.
In 2008, the operating expenditure was RM128.8 billion and RM48.1 billion for development expenditure.
Budget deficit up
The budget deficit is estimated to be 3.6 percent of GDP in 2009 and 4.8 percent of GDP in 2008.
Abdullah had in the previous year’s budget speech forecast a deficit of 3.1 percent for 2008.
Economic growth slowing
GDP growth for 2009 is estimated at 5.4 percent and 5.7 percent for 2008. The most recent official forecast is for GDP growth in 2008 is 5 to 6 percent.
Additional income tax rebate
Those earning below RM35,000 per annum will get rebate of RM400 compared to RM350 previously.
Those earning between RM35,000 to RM50,000 per annum will get a one percentage point reduction in their marginal tax rate to 12 percent from 13 percent previously.
Those in the highest bracket of RM250,000 per annum will get a similar reduction to 27 percent from 28 percent previously.
Free electricity
Those whose use less than RM20 of electricity per month will not be charged.
Airfares home
Those from Sabah and Sarawak will get free airfares to go home every two years, beginning January 2009.
Special allocations for Sabah, Sarawak
Sabah to get an additional allocation of RM580 million for upgrading infrastructures, while Sarawak will get RM420 million.
Hike in cigarette taxes
Excise duty will rise by 3 sen per stick from 15 sen to 18 sen. There was no increase last year.Smokers will have to pay up to 60 sen extra for a 20-pack.
Staff training incentives
Firms can claim working capital allowance for upgrading their staff skills.
Toll charges for buses slashed
Toll charges for buses to cut by 50 percent for the next two years. The government will spend RM45 million to compensate toll operators for this. To improve public transportation, the government has allocated RM35 billion in the next five years.
news courtesy of Malaysiakini n photo courtesy of nst
3 comments:
I don't see anything that will benefit the middle and lower income group employed in the private sector. I am not in the sales dept of my co. So exemptions of what mobile phone charges...ect do not benefit me a bit. May be i have missed out something...but i doubt
Budget 2009 doesn't show any constructive points for Rakyat and our country's growth..totally misleading and useless....
Don't they have expertise economist to come up with anything more constructive ...and this shows BN are still clueless and no ideas..no capabilities except buying peoples heart to gain desperate votes and simply be a big spender in our goverment funds..
What say you PM AAB?????
Anonymous said…
Candles now and but justice for all ISA detainees come the new Malaysia soon.
Where is the justice & freedom of expression because all our MSM News are suppressed or spun, where have the Truth and Merdeka gone to, perhaps the Dogs under BN Government ok??? Malaysia is going backwards after 51 years instead of going forward under the Racist UMNO, calling the “Chinese Squatters” to leave and “Babi Cabinet” if Anwar wins Permantang Pauh and if he forms the Pakatan Rakyats’ Federal Government. Justice must be served for Altantuya and all the ISA detainees who have no avenue of appeals and fair trials.
The UMNO Government is afraid that more cans of worms will be spilled by RPK and therefore they banned his blogsite which is a futile attempt to block information in this IT age, of course this is because of this Present Moronic Government is corrupted and dirty therefore on the pretext of helping the Rakyats, they could swindle and plunder more money from the Budget Deficit and with most of the Deficit Money coming from Petronas. Beware that the Money allocated is for their BN own Prime Minister’s and Cronies’ pockets expenditure and not for helping the Rakyats. Look for example at the Crystal Mosque’s and Mariner Club’s Fiasco in Terengganu’s Billions in Wang Ehsan, Billions had been lost as white elephants. The cancellation of the Johore Scenic Bridge, Penang Second Bridge and LRT Projects at the whims and fancies of the Flip Flop, Incompetent and Sleeping PeeM at the last minutes is wasting Multi Millions Ringgits in Public Funds had shown proof of the PeeM’s mismanagement of the Government and wastage of the Public Financial Resources and all these wasted funds could not be salvaged to aid and assist the Malaysian Poor Citizens of all races. If Malaysia still keep him in power will further damage and erode the Wealth of our Nation and our National Wealth could be decimated in no time.
The same could happen to all the empty promises of aid and help to the Rakyats these could all be lip service only unless it is monitored by reputable NGOs. On the irreversible Food Prices inflation, the unnecessary Moronic previous price hike on Petrol & Diesel had caused great permanent damage to the Food Price Structure and even if the price cut to Petrol and Diesel revert to their original prices prior to their hike, it will not revert the Food prices back to their original state and only the PeeM is to be solely blamed for his unwarranted Fuel Price Hike. His 2009 budget did not help the Rakyats’ quelled their immediate hardship suffered nor did that help them solve their Transport Problems immediately with multiple schemes but none available immediately with all the empty rhoterics but nothing concrete that could solve their immediate problems after years of neglect from this incompetent sleeping PeeM. As it is he is still sleeping and not knowing what all the 27 Million Rakyats wanted, needed and aspired to have coming soon??? Come Sept 16, 2008 send him home to sleep forever he is no longer needed.
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