This is from The Star:
* RM267.2bil has been allocated under Budget 2016, compared with the revised RM260.7bil in 2015
(A 2.7% increase in the Budget. So can this support a 5% or 6% growth in GDP? GDP growth is already slowing down to below 5% already.
Najib has allocated for himself (PM's Dept) a huge budget of RM20.3 Billion - 7.6% of the total budget. Banyak cantik. Inside this RM20 billion is a special allocation of RM1.6 Billion for 'special projects'? To pay for this, that and that. Thats RM20 billion up in smoke, with nothing to show for it. Proof : What happened to last year's billions?)
The budget for Higher Education has been cut by RM2.4 Billion. The gomen's tax collection from us has increased by over RM30 billion.)
* There will be nine high-impact domestic projects worth RM6.7bil in total. (Are all these part of the actual Budget or off Budget? This is not clear. )
* The first priority of Budget 2016 is to spur domestic investment to contribute 26.7% to the GDP in 2016. (Quite a meaningless target. There are two ways to achieve this target. For example if the GDP shrinks or grows less, this target will be easier achieved.)
* The Budget aims to increase private investment to RM218.6bil and public investment to RM112.2mil.
* The GST sum is to be credited into value of prepaid reloads from Jan 1 next year.
(Huh ?? So they pay RM10.00 and get RM9.40 value only? Whats the big deal? Its like the tak tahu kira pasar malam traders saying 'beli satu kuih 40 sen, beli lima kuih RM2.00'. Whats the big deal? )
* Personal income tax pushed to 26% from 25% for those earning between RM600,000 to RM1mil. Income tax is also pushed up to 28pc from 25% for those earning RM1mil and above. (Punishing the rich again for working hard. If you are lazier, you pay less tax. We should have one standard income tax rate for both corporate and individual - a flat rate. Russia has a flat rate of 15% for both individuals and corporates. Habis cerita.)
* RM900mil is proposed for the Jalan Tun Razak Traffic Dispersal Project to reduce congestion in the city. (Red Danger : Who will get this RM900m? 1MDB's TRX project has stalled. Stopped work. Got money to pay interest or not? This Jln Tun Razak Traffic Project will or should benefit TRX as well. More free gomen paid infra. Price of TRX land will increase even more. Maybe Tabung Haji can at last find a buyer for that bail out land purchase they made earlier. Here is the real issue : few will buy any land, apartment, condo or office unit in TRX. Suey punya project. Bad feng shui. It will rot for years like that Plaza Rakyat in Jalan Pudu, Rashid Hussain's Vision City and Tengku Wong's abandoned Sheraton. Semua suey projects. Bad karma.)
* RM200mil will be allocated to improve roads in Felda settlements. (Bribing the Felda people again. Felda became financially self sufficient over 20 years ago. Meaning they could fund all their development needs. Now Felda needs a Budget allocation to improve roads? Boleh lah bagi kontrak kepada kroni lagi.)
* RM1.2bil is allocated to improve Internet speeds, from 5mbps to 20mbps. (RM1.2 b?? And which crony will get this contract? I can point names and name fingers too. RM1.2 billion to upgrade Internet? Using gold wires?)
* RM1.4bil will be spent to improve 700km of road all around the country. (Ok cool. Dont overpay cronies ok.)
* RM67mil is allocated for bus operation routes outside the city. (What does this mean? Just free the market. Let the bus companies decide how best to serve the routes. The amount is small - RM67 Million. The cronies will still mess things up. The people will still be unhappy. Not worth RM67 million.)
* Tourism is expected to contribute RM103bil to the economy. E-Visa for seven countries (China, India, Myanmar, Nepal, Sri Lanka, United States and Canada) to be launched in mid-2016. (But..but.. the tourist arrivals have been dropping steadily. Even those 1.5 million Banglas have now been put on hold.)
* RM5.3bil is allocated to modernise farming. (Can someone please explain? The gomen does NOT own any farms. Free money to buy farmers' votes.)
* RM28 billion is allocated for new MRT projects. (This is the 'old' MRT project lah - now about half way through.)
* RM930mil is allocated to the Youth and Sports Ministry, with RM145mil set aside for training athletes. (Hmm...to appease pemuda boys? The pemuda boys must buy new jogging shoes. Time to get fit. You have to run for the money.)
* The Pan-Borneo Sarawak Highway, which is set to be completed in 2021, will be toll-free. (I say I think this is the THIRD Budget where they are repeating this Borneo Highway project. Dah start ke belum?)
* RM100 million is to be provided by Communications & Multimedia Ministry for eRezeki, eUsahawan programmes which is expected to benefit some 100,000 people. (RM100 million? A good laptop only costs about RM2000. This is more wasted money.)
* RM360mil is proposed to improve National Service, with RM160mil allocated for non-governmental organisations. (This is strange. The National Service has been cancelled for 2015. Dont believe me? See here. Now they are getting an extra RM360 million for 2016? Can the Jabatan Odit Negara look into this? Jangan main golf di Pulau Lutipugua ok? )
* All domestic economy class flights will be exempted from GST for rural folk.
* RM1.6bil is allocated for the construction of 175,000 units of PR1MA homes. 10,000 units are expected to be completed next year. (175,000 houses?? Wow? Over what period of time? The numbers also do not add up. RM1.6b for 175,000 units of houses? That works out to RM9500 per house - more or less. Bamboo house ke?
Every year there seems to be an allocation for PRIMA houses. 10,000 houses to be completed next year? Err just tell us how many houses have already been completed so far? Lets get over that obstacle first. It seems to be another closely guarded secret.)
* TEKUN to provide RM600mil + RM500mil for Bumiputras and RM100mil for Indian entrepreneurs. (RM1.1 Billion poof. RM100m for the Indians? Happy "very early" Deepavali to the MIC.)
* RM90mil in micro-credit loans allocated for Chinese SME traders and businessmen, including RM50mil for KOJADI (MCA’s investment & education arm). (Wah MIC dapat RM100m, MCA dapat RM90m. Less by RM10m.)
* RM300mil is proposed to improve the welfare and development of the Orang Asli community. RM45mil is also set aside to assist with extra food, pocket money and school transport fees for the Orang Asli community. (Sounds like golf on Pulau Guatipulu. RM300 Million for the Orang Asli? I dont think so. The money will probably be used by the Jabatan Orang Asli guys to buy 4 wheel drives, camping tear for themselves, new boats etc. Maybe fishing gear as well.
RM45 million for food, pocket money and school transport? There are about 150,000 Orang Asli. This works out to about RM300 per Orang Asli, for one year or RM25 per month. RM25 per month for extra food, pocket money and school transport? This is bullshitting. I dont think the Orang Asli are going to see much.)
* The minimum starting salary in the civil service is set at RM1,200 a month from July 2016. The move is expected to benefit some 60,000 civil servants. (Wow. RM1200 x 60000 = 72 million a MONTH. Or RM864 million a year. Where is the money coming from?)
* From July 2016, the minimum pension rate is set at RM950 a month for pensioners with at least 25 years of service.
* A payment of RM500 for all civil servants and RM250 is allocated for Government retirees to help with cost of living. (Thats a few billion.)
* BR1M payout of RM400 to unmarried persons above 21 with incomes below RM2,000. A BR1M payout of RM1,050 is also set aside for those with incomes below RM1,000 and RM1,000 (for those with incomes below RM3,000), RM800 (for those with incomes below RM4,000). (More billions.)
The worst part of the Budget is the RM1000 minimum wage. Why increase the Minimum Wage from RM900 to RM1000? Because the first round of Minimum Wage sent inflation sky rocketing.
Whatever extra salary earned was eaten up in higher prices. Now they have to raise the minimum wage even more. The prices will go up again. Why? because employers sufffer higher salary costs and they must recoup the higher salaries. Prices will go up. People will suffer again.
Then the Minimum Wages will be raised up again and again. Prices will go up again. It is never ending.
Kerja bodoh. I have been saying this since this stupid idea was first proposed.
Just like the GST. These two really silly ideas are killing the economy as well - minimum wages and the GST.
Unemployment will go up. Business will slow down even more. One famous rice distributor (not Bernas ok) says their sales of rice has decreased by 50% !! This is a basic commodity.
What are people eating? The people will become hungry. Then we'll see.
(A 2.7% increase in the Budget. So can this support a 5% or 6% growth in GDP? GDP growth is already slowing down to below 5% already.
Najib has allocated for himself (PM's Dept) a huge budget of RM20.3 Billion - 7.6% of the total budget. Banyak cantik. Inside this RM20 billion is a special allocation of RM1.6 Billion for 'special projects'? To pay for this, that and that. Thats RM20 billion up in smoke, with nothing to show for it. Proof : What happened to last year's billions?)
The budget for Higher Education has been cut by RM2.4 Billion. The gomen's tax collection from us has increased by over RM30 billion.)
* There will be nine high-impact domestic projects worth RM6.7bil in total. (Are all these part of the actual Budget or off Budget? This is not clear. )
* The first priority of Budget 2016 is to spur domestic investment to contribute 26.7% to the GDP in 2016. (Quite a meaningless target. There are two ways to achieve this target. For example if the GDP shrinks or grows less, this target will be easier achieved.)
* The Budget aims to increase private investment to RM218.6bil and public investment to RM112.2mil.
* The GST sum is to be credited into value of prepaid reloads from Jan 1 next year.
(Huh ?? So they pay RM10.00 and get RM9.40 value only? Whats the big deal? Its like the tak tahu kira pasar malam traders saying 'beli satu kuih 40 sen, beli lima kuih RM2.00'. Whats the big deal? )
* Personal income tax pushed to 26% from 25% for those earning between RM600,000 to RM1mil. Income tax is also pushed up to 28pc from 25% for those earning RM1mil and above. (Punishing the rich again for working hard. If you are lazier, you pay less tax. We should have one standard income tax rate for both corporate and individual - a flat rate. Russia has a flat rate of 15% for both individuals and corporates. Habis cerita.)
* RM900mil is proposed for the Jalan Tun Razak Traffic Dispersal Project to reduce congestion in the city. (Red Danger : Who will get this RM900m? 1MDB's TRX project has stalled. Stopped work. Got money to pay interest or not? This Jln Tun Razak Traffic Project will or should benefit TRX as well. More free gomen paid infra. Price of TRX land will increase even more. Maybe Tabung Haji can at last find a buyer for that bail out land purchase they made earlier. Here is the real issue : few will buy any land, apartment, condo or office unit in TRX. Suey punya project. Bad feng shui. It will rot for years like that Plaza Rakyat in Jalan Pudu, Rashid Hussain's Vision City and Tengku Wong's abandoned Sheraton. Semua suey projects. Bad karma.)
* RM200mil will be allocated to improve roads in Felda settlements. (Bribing the Felda people again. Felda became financially self sufficient over 20 years ago. Meaning they could fund all their development needs. Now Felda needs a Budget allocation to improve roads? Boleh lah bagi kontrak kepada kroni lagi.)
* RM1.2bil is allocated to improve Internet speeds, from 5mbps to 20mbps. (RM1.2 b?? And which crony will get this contract? I can point names and name fingers too. RM1.2 billion to upgrade Internet? Using gold wires?)
* RM1.4bil will be spent to improve 700km of road all around the country. (Ok cool. Dont overpay cronies ok.)
* RM67mil is allocated for bus operation routes outside the city. (What does this mean? Just free the market. Let the bus companies decide how best to serve the routes. The amount is small - RM67 Million. The cronies will still mess things up. The people will still be unhappy. Not worth RM67 million.)
* Tourism is expected to contribute RM103bil to the economy. E-Visa for seven countries (China, India, Myanmar, Nepal, Sri Lanka, United States and Canada) to be launched in mid-2016. (But..but.. the tourist arrivals have been dropping steadily. Even those 1.5 million Banglas have now been put on hold.)
* RM5.3bil is allocated to modernise farming. (Can someone please explain? The gomen does NOT own any farms. Free money to buy farmers' votes.)
* RM28 billion is allocated for new MRT projects. (This is the 'old' MRT project lah - now about half way through.)
* RM930mil is allocated to the Youth and Sports Ministry, with RM145mil set aside for training athletes. (Hmm...to appease pemuda boys? The pemuda boys must buy new jogging shoes. Time to get fit. You have to run for the money.)
* The Pan-Borneo Sarawak Highway, which is set to be completed in 2021, will be toll-free. (I say I think this is the THIRD Budget where they are repeating this Borneo Highway project. Dah start ke belum?)
* RM100 million is to be provided by Communications & Multimedia Ministry for eRezeki, eUsahawan programmes which is expected to benefit some 100,000 people. (RM100 million? A good laptop only costs about RM2000. This is more wasted money.)
* RM360mil is proposed to improve National Service, with RM160mil allocated for non-governmental organisations. (This is strange. The National Service has been cancelled for 2015. Dont believe me? See here. Now they are getting an extra RM360 million for 2016? Can the Jabatan Odit Negara look into this? Jangan main golf di Pulau Lutipugua ok? )
* All domestic economy class flights will be exempted from GST for rural folk.
* RM1.6bil is allocated for the construction of 175,000 units of PR1MA homes. 10,000 units are expected to be completed next year. (175,000 houses?? Wow? Over what period of time? The numbers also do not add up. RM1.6b for 175,000 units of houses? That works out to RM9500 per house - more or less. Bamboo house ke?
Every year there seems to be an allocation for PRIMA houses. 10,000 houses to be completed next year? Err just tell us how many houses have already been completed so far? Lets get over that obstacle first. It seems to be another closely guarded secret.)
* TEKUN to provide RM600mil + RM500mil for Bumiputras and RM100mil for Indian entrepreneurs. (RM1.1 Billion poof. RM100m for the Indians? Happy "very early" Deepavali to the MIC.)
* RM90mil in micro-credit loans allocated for Chinese SME traders and businessmen, including RM50mil for KOJADI (MCA’s investment & education arm). (Wah MIC dapat RM100m, MCA dapat RM90m. Less by RM10m.)
* RM300mil is proposed to improve the welfare and development of the Orang Asli community. RM45mil is also set aside to assist with extra food, pocket money and school transport fees for the Orang Asli community. (Sounds like golf on Pulau Guatipulu. RM300 Million for the Orang Asli? I dont think so. The money will probably be used by the Jabatan Orang Asli guys to buy 4 wheel drives, camping tear for themselves, new boats etc. Maybe fishing gear as well.
RM45 million for food, pocket money and school transport? There are about 150,000 Orang Asli. This works out to about RM300 per Orang Asli, for one year or RM25 per month. RM25 per month for extra food, pocket money and school transport? This is bullshitting. I dont think the Orang Asli are going to see much.)
* The minimum starting salary in the civil service is set at RM1,200 a month from July 2016. The move is expected to benefit some 60,000 civil servants. (Wow. RM1200 x 60000 = 72 million a MONTH. Or RM864 million a year. Where is the money coming from?)
* From July 2016, the minimum pension rate is set at RM950 a month for pensioners with at least 25 years of service.
* A payment of RM500 for all civil servants and RM250 is allocated for Government retirees to help with cost of living. (Thats a few billion.)
* BR1M payout of RM400 to unmarried persons above 21 with incomes below RM2,000. A BR1M payout of RM1,050 is also set aside for those with incomes below RM1,000 and RM1,000 (for those with incomes below RM3,000), RM800 (for those with incomes below RM4,000). (More billions.)
The worst part of the Budget is the RM1000 minimum wage. Why increase the Minimum Wage from RM900 to RM1000? Because the first round of Minimum Wage sent inflation sky rocketing.
Whatever extra salary earned was eaten up in higher prices. Now they have to raise the minimum wage even more. The prices will go up again. Why? because employers sufffer higher salary costs and they must recoup the higher salaries. Prices will go up. People will suffer again.
Then the Minimum Wages will be raised up again and again. Prices will go up again. It is never ending.
Kerja bodoh. I have been saying this since this stupid idea was first proposed.
Just like the GST. These two really silly ideas are killing the economy as well - minimum wages and the GST.
Unemployment will go up. Business will slow down even more. One famous rice distributor (not Bernas ok) says their sales of rice has decreased by 50% !! This is a basic commodity.
What are people eating? The people will become hungry. Then we'll see.
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