It’s an all gain, no pain budget

MCA president Dr Chua Soi Lek says the budget is a timely blueprint for the country's economy.

PETALING JAYA: MCA has lauded Budget 2012 as an “all gain, no pain” move while the DAP calls it Barisan Nasional’s “final budget”.

Welcoming the budget, themed “Welfare for the Rakyat, Well-Being of the Nation”, MCA president Dr Chua Soi Lek called it a “very timely and appropriate” blueprint in view of the rising costs of living worldwide.

“We need to improve our public delivery system so that the country can be more competitive. Hence, changes in remuneration and recruitment including an exit policy for low performers are needed,” he said.

While praising many of the budget’s provisions, Chua said the RM2 billion for syariah-compliant SME Financing Fund, and the RM100 million SME Revitalisation Fund offering loans up to a maximum of RM1 million for entrepreneurs were “grossly inadequate”.

However, he said it was a positive measure to keep the industry vibrant.

“Although the world economy is not in a good shape due to the debt crisis and financial instability, with the government’s Economic Transformation Programme (ETP) in place, we are confident that we may still achieve economic growth of 5% to 5.5% next year,” said Chua, a former health minister.

He said that MCA is convinced that the government can achieve its plan to reduce the deficit from 5.4% to 4.7% of the gross domestic product (GDP) next year.

“To stimulate the economy, the government should encourage more private and public investments (PPI) and we are optimistic that the PPI can be increased by 15.9% (private investment) and 7% (public investment) supported by foreign investment, the ETP and the 10th Malaysia Plan,” said Chua.

He added that MCA is happy that the allocation of RM33.2 billion for all subsidies, incentives and assistance will be continued as this would help combat inflation.

“We laud the ‘People First’ initiative by the government to offer a one-off grant of RM500 to households with a monthly income of RM3,000,” he said.

He also praised the steps taken to waive school fees for primary and secondary school education and the RM200 cash voucher for tertiary students to buy books.

He said MCA also supports the government’s decision to raise the retirement age of civil servants from the current 58 to 60 years, adding that it was “long overdue as the average life span has increased by 20 years since the country achieved independence”.

Every single sector taken care

MCA vice-president and Deputy Education Minister Wee Ka Siong called it an “all gain, no pain” budget which will boost the education sector.

“With the one-off assistance, it will considerably ease the burden of parents,” he said.

“Besides, the students don’t have to pay school fees,” he said.

MCA Youth leader Chua Tee Yong hit out at Pakatan Rakyat for claiming the government had copied its alternative budget.

“If you’re afraid then just table your budget after Oct 7. The budget now benefits everyone directly and indirectly,” said Chua, who is Labis MP and Deputy Agriculture and Agro-Based Industry Minister.

Meanwhile, Federation of Chinese Assocation Malaysia (Huazhong) deputy secretary-general Dr Chin Yew Sin said that Budget 2012 has really taken care of every single sector and was really a “pre-election budget”.

However, he said RM100 million allocated for Chinese schools was unfair as there are 1,292 Chinese schools, which are more than any other vernacular schools.

“The Chinese community is not too happy about it. The allocation should not be the same and should be given according to the number of schools,” he said.

On the increase of civil servant’s retirement age to 58 to 60, Chin said he hopes that the private sector will follow suit.

Bukit Bendara MP and DAP strategist Liew Chin Tong said: “It is a budget to raise election funds for Umno. The inability to reform makes me feels that this will likely be Barisan Nasional’s final budget.”

Liew also said the budget would only give jobs to the “big boys” but not the ordinary people.