Youths want direct cash aid in 2027 budget, says PKR Youth exco

 Noor Amelia Zainabila Zaiffri says many young Malaysians do not view vouchers and other incentives as tangible assistance in the same way as cash.

A PKR Youth exco member said young buyers do not necessarily view government incentives, such as the full stamp duty exemption for first homes, as direct assistance.

PETALING JAYA:

Young Malaysians want direct cash assistance from the government in the 2027 budget, according to PKR Youth exco member Noor Amelia Zainabila Zaiffri.

Noor Amelia Zainabila Zaiffri.

Noor Amelia based this on feedback she received from young people during two town halls held last year.

“I have to be very open: what they need is cash assistance. Even if you give book vouchers or cards, they are looking for cash assistance,” she said during the latest episode of the Kena Soal series on the Keluar Sekejap podcast, which was moderated by Iman Irfan Yahya.

This 12th episode of the Kena Soal programme is part of the Future Speaks initiative, in collaboration with FMT.

Noor Amelia said the same perception applies to housing, where government incentives might ease the financial burden on young buyers but aren’t necessarily viewed as direct assistance.

She cited the full stamp duty exemption for first homes priced up to RM500,000 as an example.

Puteri Umno member Shamellya Norazizi welcomed financial assistance for young homebuyers, but said youths should also consider how long they could rely on such support.

Shamellya Norazizi.

“The government has a responsibility to provide assistance. They should do that, but we as Malaysians also need to have the mentality to ask: how long are we going to depend on it?”

Shamellya, a former Puteri Umno information chief, also expressed concern over young people falling into debt, pointing to the use of buy-now-pay-later schemes.

Home ownership no longer a priority for Gen Z?

On the broader issue of housing, Noor Amelia said owning a home was no longer necessarily a priority for Gen Z, with some choosing to rent because of job mobility or because they had yet to settle down.

She said high deposits were another obstacle, with some young people lacking the financial capacity to cover the upfront cost of a home and commit to a loan of up to 35 years.

However, she said this did not mean the government should simply leave young people to rent indefinitely, pointing to affordable housing, rent-to-own schemes and credit guarantees as measures aimed at helping them own homes.

Shamellya, meanwhile, said social media and comparisons with peers were putting pressure on young people to pursue homes and lifestyles beyond their means.

She urged them to consider affordable starter homes and prioritise saving rather than taking on excessive debt simply to keep up with others. - FMT