Chants of 'reformasi, kleptocracy' ring out before Najib's budget speech

Please stay tuned for Malaysiakini’s live reports on budget 2018.

3.35pm: Najib, clad in a BN blue baju Melayu, starts his speech.

3.30pm: Opposition MPs chant "reformasi" and "kleptocracy" before Prime Minister Najib Abdul Razak begins his speech.

2.18pm: At 3.30pm, Prime Minister Najib Abdul Razak is slated to table Budget 2018 in Parliament, his administration's ninth yearly financial blueprint for the nation.

The budget is expected to contain an assortment of goodies to create a feel-good factor in view of the coming general election.

Earlier this month, the prime minister also promised “good news” for the civil servants.

Civil servants are often regarded as a vote-bank for Umno and BN but with former premier Dr Mahathir Mohamad positioning Bersatu as an alternative to Umno, the situation has become dicey.

Furthermore, Mahathir is even considering contesting in the administrative capital of Putrajaya.

The budget could also herald positive news for those in rural areas, where Najib's Umno and Mahathir's Bersatu would lock horns for Malay votes, the outcome of which could tilt the balance of power.

Business news organisation Bloomberg reported that Budget 2018 would see more measures to increase people's disposable income such as higher cash handouts, bonuses for civil servants and tax relief for Malaysians.

Bloomberg also spoke to several experts with regard to Budget 2018 being a polls budget.

Economists with RHB said the budget would be equity-market friendly, containing “goodies” for individuals and businesses while MIDF Amanah Investment Bank Bhd expected the BRIM cash handout to rise to RM7.5 billion from RM6.8 billion this year.

Chief economist of Malaysia Rating Corp predicted a possible one-off tax break for the middle-income group but did not see any outright reduction in the personal income tax rate.

Malayan Banking Bhd told Bloomberg that the government might emulate Singapore's Hosing Development Board and set up a single authority to oversee the affordable housing market to coordinate public and private projects and better match supply and demand.

According to MIDF, there might also be tax breaks or exemptions to spur private developers to build cheaper homes. - Mkini