Najib shores up BN's fixed deposits

'There is nothing in the Budget for taxpayers. But then again, someone has to pay for Najib's cash hand-outs. And that's us - the 1.7 million taxpayers.'

Salient points in Budget 2012

Quigonbond: I'm waiting for a comprehensive analysis on ‘feel good' Budget. So far, the only transformation I see is reshuffling from one unproductive set of priorities to another unproductive set of priorities.

How is the government increasing Malaysia's productivity? How is the government fixing our standing when it comes to global university ranking? How are our institutions of governance being fixed so that they are independent and professional? How are leakages being plugged? How are the rich contributing more to the economy?

As for the so-called better deal for poor households, show me the money, then I'd consider thanking you. But I might not, because the money you pay to these households means nothing if inflation keeps shooting up as a result of more severe debt financing and having to borrow at higher interest - thanks to an ever incredulously expanding operational expenses.

Not Convinced: This is clearly an election budget, Najib's style. Cash payments for ex-military and police personnel, contractors for Department of Special Affairs (Jasa) and Jabatan Kemajuan Masyarakat (Kemas), and bonuses and goodies galore for the more than one million civil servants.

There is nothing in the Budget for the long-suffering taxpayers. But then again, someone has to pay for all the cash hand-outs. And that's us - the 1.7 million taxpayers.

GovPayMaster: We pay taxes so that the PM can play Santa Claus?

Anonymous: New graduates can't afford a RM200,000 to RM400,000 house and the existing disposal income of average Malaysians cannot withstand the fierce inflationary pressures, especially with the high cost of food, electricity, transportation, higher education and others.

They will keep on increasing, believe me. Parents are happy that primary and secondary education are free but what about when their children enter tertiary education? What about the efforts of government to get the taxes from the majority Malaysians, not solely from the elite?

The PM gives fascinating goodies but in real life do the average Malaysians really benefit from the economic growth of the country?

KohJL: This is yet another deficit budget, with RM186 million to snipe at PAS deputy president Mat Sabu, and many other one-off payments where - pardon my ignorance - I just can't see the ROI (return of investment) for the country.
Frankly, I'm disappointed. "Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime" is a lesson not to be found in this budget.

Cascara: Spend, spend, and spend some more. Has Najib got any idea where he is going to get the money from? I think I know. All this will come from the GST (goods and services tax) he is going to introduce. He will drop the bomb after the GE (general election).

All the goodies are to prime dumb Malaysians into believing that BN is the party to vote for. I wonder if Malaysia is going to be the next Greece.

Abil: There was nothing for mid-income private sector employee with mounting cost of living. He or she can't afford affordable homes, can't even marry and have children as the cost of living is going up, including food and clothing.

Tired: The cynics will always be cynical, the skeptics will forever remain skeptical. Some people are born that way, what to do? Even though the facts are there, their skeptical minds will always be doubtful.

And the contention that this is an election Budget - last year's Budget was also dubbed as such but no election came. If there is still no election in the coming months, then it will be the turn of next year's Budget. This way, the prediction will surely come true one day.

Anonymous_VV: Well, for a start, the senior citizens do not have to pay the RM1 or RM5 at government clinics, and they get to enjoy 50 percent discount for LRT and monorail.

Being a senior citizen, I see the benefits in a small way. But despite the goodies, we need a corrupt-free judiciary and enforcement agencies and a civil service with high standards.

Wira: Najib, you don't have to emulate the Penang state government in giving RM300 per senior citizen because you are running an increasingly deficit budget whereas Chief Minister Lim Guan Eng is giving the state a surplus budget.

Your wanton spending will cause us more problems. What message are you sending to all Malaysians - that it is okay to splash the money you don't have?

Even with full tax exemption given to the import of hybrid cars, both Prius and Insight still cost an average RM30,000 more than those sold in Japan.

Remove the APs (approved permits) and the government can raise taxes by RM30,000 per hybrid and still the consumers won't feel it.

Tkc: Considering that the global economic outlook is negative due to problems in the Eurozone and US, increasing total expenditure by 9.4% is irresponsible.

The ‘improvement' in budget deficit for 2012 compared with corresponding period in 2011 will only hold true if the GDP growth projection of 5-6% is achievable.

Budget deficits translate into debts - resulting in the debt servicing figure increasing by a whopping 60% over the last four years.

Onyourtoes: "Debt servicing was RM12,8 billion in 2008. For 2012, it is RM20.5 billion - an increase of nearly 60%."

Let me work backward: take interest rate at 5%, RM12.8 billion debt service charges in 2008 would make federal government debt at RM256 billion. Now with debt service charges at RM20.5 billion, the federal government's debt is projected at RM410 billion.

This is an increase of RM154 billion from 2008 to 2012, an average increase of RM38.5 billion per year. This is Malaysia's annual actual deficit? So please don't look at the budget numbers.

What happened to private sector pension age and minimum wage? Is this the government of the people or government of the employers? Why do we keep rewarding a group of government servants who contribute nothing to the economy other than incurring spending, creating white elephants, and caused more wastage?

Excessive payments to unproductive government servants cause inflation which the private sector employees have no recourse. They don't have the security of employment, their pay rise has been minimal (because of foreign workers and exploitative labour laws), and their bonuses are not assured.

SMC77: Our nation has reached an unhealthy debt level. The government has to spend approximately 9 percent of the Budget to pay off the debt. This interest for the debt will reach alarming level if domestic liquidity dries out and the government is forced to borrow under such an environment.

At the end of the day, EPF (Employees Providence Fund) and other government-linked funds will be asked to do national service by investing in debt papers issued by the government. Don't forget that these funds belong to the rakyat. Please don't steal our hard-earned money.

Docs: Hmmm! If the civil servants are getting the bonus only in December 2011, then GE13 will be in early 2012. - Malaysiakini