Malaysia's 2013 Budget: hmm?
The 2013 Budget has been tabled. A lot of funding in bits and pieces to a diverse range of stuff ranging from legal aid, insurance for hawkers & fishermen, residents associations, smartphone rebate for youths (like they deserve it? wth!) and so on.
Being the typical cynical Malaysian (it's almost a default setting, seriously, given the stories on corruption one hears so often), I went through the budget speech to look for any big projects that are possible cash cows (pun intended) and I guess there are a few - especially the TRX (Tun Razak Exchange) which even pro-establishment blogs are questioning.
Do we need another financial district, purely for Islamic banking? Well, pity most of the local banks who will be arm twisted into setting up office there. This country is not rich enough to need so many banks AND running on 2 platforms - conventional and Islamic. Anyway, topic for another day.
Back to the Budget - I would rate it as pump priming via direct handouts and discounts, not as controversial as previous years budgets with mega projects that just scream "suck me dry!". So I guess a lot of people will get some benefit (not me though, all I get is a 50% discount on passport renewal, RM150. yay.. better than nothing, I guess. Can buy a shirt with the savings. Or maybe a few books, it's all good y'all. I may be cynical but I'm not bitter. Hee).
Despite the more broad distribution of money to the lower income group (uh, vote buying the majority much? duh), the disquieting thing is that there is virtually little or no policy direction change or leadership to steer the country towards being a first world nation. Yeah yeah, some money for teacher training in English. well, who let the rot start to begin with? Now only want to throw money at the problem...
So the Budget is a short term measure, populist in nature, no hard issues tackled, some minor noise about being serious on corruption hence more staff for MACC (hands up who believes it? No? No one? Shame.), oh a 20 sen per kg subsidy renewal in sugar which is a right move but expect all drinks prices to go UP by 20 sen tomorrow. Cynical, I told you already.
I think the Opposition may have a hard time rebutting this Budget though, it is designed to appeal to the masses. But I'm not happy with it. I gets nufink and I pays a lot of taxes, betch!
Ah well, life goes on.
Being the typical cynical Malaysian (it's almost a default setting, seriously, given the stories on corruption one hears so often), I went through the budget speech to look for any big projects that are possible cash cows (pun intended) and I guess there are a few - especially the TRX (Tun Razak Exchange) which even pro-establishment blogs are questioning.
Do we need another financial district, purely for Islamic banking? Well, pity most of the local banks who will be arm twisted into setting up office there. This country is not rich enough to need so many banks AND running on 2 platforms - conventional and Islamic. Anyway, topic for another day.
Back to the Budget - I would rate it as pump priming via direct handouts and discounts, not as controversial as previous years budgets with mega projects that just scream "suck me dry!". So I guess a lot of people will get some benefit (not me though, all I get is a 50% discount on passport renewal, RM150. yay.. better than nothing, I guess. Can buy a shirt with the savings. Or maybe a few books, it's all good y'all. I may be cynical but I'm not bitter. Hee).
Despite the more broad distribution of money to the lower income group (uh, vote buying the majority much? duh), the disquieting thing is that there is virtually little or no policy direction change or leadership to steer the country towards being a first world nation. Yeah yeah, some money for teacher training in English. well, who let the rot start to begin with? Now only want to throw money at the problem...
So the Budget is a short term measure, populist in nature, no hard issues tackled, some minor noise about being serious on corruption hence more staff for MACC (hands up who believes it? No? No one? Shame.), oh a 20 sen per kg subsidy renewal in sugar which is a right move but expect all drinks prices to go UP by 20 sen tomorrow. Cynical, I told you already.
I think the Opposition may have a hard time rebutting this Budget though, it is designed to appeal to the masses. But I'm not happy with it. I gets nufink and I pays a lot of taxes, betch!
Ah well, life goes on.
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