Lim ends 130-minute speech with message for 'crooks and their supporters'

LIVE| BUDGET 2019 | Finance Minister Lim Guan Eng is tabling the Pakatan Harapan government's inaugural budget in the Dewan Rakyat.

This is the first budget to be tabled by a new government since the nation's independence in 1957 following BN's defeat in the May 9 general election.

Previously, Lim said this will be a budget of sacrifice, but not one of austerity.

At a glance:

Total budget for 2019: RM314.55 billion (excludes RM2 billion contingency fund), up 10.25%.

Operational expenditure: RM259.85 billion, up 10.93%.

Development expenditure: RM54.7 billion, up 18.91%.

Projected deficit for 2019: 3.4%

Revised deficit for 2018: 3.7%, up from 2.8% projected by the BN administration for Budget 2018.

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HIGHLIGHTS

• 'Samurai bonds' to help Putrajaya slash debt
• MACC gets big bump in funds
• Allocations for equitable development
• Pangkor Island goes 'duty-free'
• 'Buy Malaysian Products' campaign returns
• PTPTN initiatives announced
• Broadband connectivity outside urban centres
• Largest allocation goes to Education Ministry
• Freezes intra-city toll rate hikes
• Peer-to-Peer Lending Scheme
• Smoke-free nation by 2025
• RM1 billion fund to facilitate home ownership for B40, M40
• Excise duty for sugary drinks
• Unrecorded leave to perform religious obligations
• Minimum wage to be increased to RM1,100
• Fuel subsidy for single car, motorcycle owners
• Financial aid for low-income group
• Casino license fees increases, special draws decreases
• Opposition chants 'bungalow'
• Customs Department to scrutinise online services
• Putrajaya will no longer pay IPIC and Aabar

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Malaysiakini reports on the Budget speech live:

Lim: Malaysia is now clean again

6.20pm: Lim ends his 130-minute speech by highlighting the US Department of Justice's charges against fugitive financier Jho Low and former Goldman Sachs executives Tim Leissner and Roger Ng.

"For the crooks who have stolen the people's money, return the money and be prepared to face justice.

"Those who continue to support these crooks, apologise and resign from public office," he adds to cheers from government lawmakers.

He says Malaysia is now "clean" again and urges those who have lost their way to return to the right path.

After the speaker ends the session, BN lawmakers stand up and wave their Economic Initiative document at Harapan lawmakers.

Government lawmakers retort by saying their document is "too small" and they should "print better placards".

Someone from the opposition bench then shouts "Nobita, Nobita" in reference to the Japanese cartoon character of Doraemon fame, whom some critics have likened Lim to.

BN MP: Budget is 'copy and paste'

6.18pm: Noraini Ahmad (BN-Parit Sulong) heckles Lim, saying Harapan's budget is mostly a rebranding exercise, "with a lot of copy-pasting."

Dewan Rakyat Speaker Mohamad Ariff Md Yusoff chides the House, saying "a lot of tigers are roaring today."

Tiger of Asia - MPs respond with growls

6.16pm: Lim promises that as long as the Harapan administration is clean, prioritises the people and implements reforms, Malaysia's fiscal position will be restored in three years.

"To borrow from what the prime minister said: 'Malaysia is like an Asian Tiger that has been sleeping and now has been awakened'," he says.

MPs respond with an enthusiastic bout of growling.

'Samurai bonds' to help Putrajaya slash debt

6.15pm: Japan Bank of International Cooperation is expected to guarantee JPY200 billion (approximately RM7.4 billion) in a special security known as the "Samurai bond" that is scheduled to be issued by Putrajaya before March 2019.

The coupon rate is set at 0.65%.

Lim credits Prime Minister Dr Mahathir Mohamad for convincing Japan to undertake this arrangement.

"We wish to thank the government of Japan for offering to guarantee the issuance of the Samurai bond," he says.

Handouts for uniformed units

6.11pm: Putrajaya will pay a special RM500 cash handout to police, military, fire and rescue department as well as customs department staff who are Grade 54 and below.

As for all government pensioners, a RM250 payment will be made.

"Unlike the previous administration which normally makes such payments the following year, the Harapan administration will be making the payments by the end of 2018," says Lim.

-Mkini (part)