No unity budget if PN rejects Harapan's six key measures

 

MP SPEAKS | There is no Unity Budget 2021 if the Perikatan Nasional (PN) government rejects Pakatan Harapan’s six key fiscal and financial measures that save jobs, businesses and the economic livelihood of Malaysians. 

With Malaysia facing a surge in the third wave of Covid-19 infections, it is imperative that all parties come together to craft a unity budget that works to help Malaysians overcome and survive the current Covid-19 economic recession.

The country recorded the worst contraction in the gross domestic product (GDP) growth in Asean, at 17.1 percent for the second quarter this year. 

The 2020 GDP is expected to contract by five percent, unemployment to breach one million workers and our deficit to rise to six percent. 

The many ideas proposed for the Unity Budget 2021 to revive the economy, jobs and businesses can be summarised into six key fiscal and financial measures.

1. Increase Health Ministry resources for Covid-19 and non-communicable diseases (NCDs) with special allocation to tackle the Covid crisis in Sabah;
2. Expand social protection, safety net and welfare payments for the vulnerable and unemployed by increasing monthly welfare aid to RM1,000 as promised by the prime minister in Sandakan on Aug 30, costing RM12 billion until the end of Covid crisis;
3. Bank Loan moratorium extension till March 31, 2021, costing RM6.4 billion;
4. Wage subsidy to be continued till March 31, 2021, and create 600,000 jobs as per Malaysia@Work scheme offering incentives over two years for employers and employees costing RM13 billion;
5. Increase in education spending to ensure education continuity; and
6. Development expenditure on two (2) key projects, namely, the National Fiberisation Connectivity Plan (NFCP) and upgrading water infrastructure for Selangor, Kelantan and Pahang.

DAP reiterates that this unity budget is crucial in upholding the royal decree rejecting an emergency proclamation for the country, avoid additional requests for an emergency and also avoid a snap general election, which will only worsen Covid-19 infections. 

Unity budget is not equivalent to the so-called unity government, as speculated.

Harapan has clearly stated that this budget consultative process is not an expression of support or acceptance of the political and moral legitimacy of the present PN government. 

If any of the key six measures proposed by Harapan are rejected, then there will be no unity budget that can work to benefit the nation, our national economy and the rakyat. 

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LIM GUAN ENG is Bagan MP, former finance minister, and former Penang chief minister. - Mkini