Friday the 13th Budget - "More of the same".

 By Murray Hunter 

I have adapted this from Murray Hunter here.  

The graphic here is just my idea.

 

• Friday the 13th budget
• RM 393b largest budget ever, Malaysian Book of Records
• budget deficit of RM 86 billion
• govt debt above RM 1.5 trillion 
• Debt service RM 49.8b or 12.6% of govt spending

could be large tax collection shortfall in 2024
Tax revenue estimated RM 244 billion 
non-tax revenue estimated RM 64 billion (GLC dividends)
forecast growth 4-5% 
if economic slowdown tax, dividends not achievable

real difficult decisions have been delayed.
extension of what has been done by previous governments
SME development, flood mitigation, food security, welfare 
same as what previous governments have done

• Civil servants will receive RM 2,000 incentive
• pension payouts RM32.4b or 8.2% of govt expenditure
• no effort to rein in public sector expenditure 
• no hopes to increase productivity 
• public sector inefficiencies will continue
• whether civil service able to effectively implement plans

• need serious and rational discussion about carbon capture
• just blindly following WEF ideas
• rush to expand use of solar panels 
• examine Thai disappointment of solar initiatives a decade ago
• Most are now unusable due to disrepair

• practicality of 50 electric buses and changing govt fleet of EVs 
• why import these EVs, they could be built locally

• Crondani economics
• public funds to widen NS Hiway between Sedenak - Simpang Reggan 
• nothing more than transfer RM 1.0b to GLC 
• If public funds used to expand NS Hiway why do we continue to pay tolls?
• funding PNB to purchase prime public lands is just landgrab
  
• going on under Madani by GLCs and crony companies
• RM1.5b into hands of GLCs, outside control of govt

• current disrepair of infrastructure today 
• RM 2.8b to repair public roads, RM 150 million to repair public toilets
• infrastructure allowed to fall into so much disrepair
  

• policies just the same.
• more groups will criticise budget as details seep in

 

My Comments :

Toilets, toilets, toilets. The other day in Washington at that Council on Foreign Relations interview he also mentioned lavatories. There seems to be a fixation with lavatories. 

So I looked up the etymology.  

Etymology. From Middle English lavatorie, from Late Latin lavātōrium, from Latin lavāre (“to wash”) + -ium (forming places related to an activity). Doublet of lavatorium. As a place to pan gold, via Spanish lavadero. Pan gold?

Anyway none of the monopolies have been abolished. In fact the existing monopolies are being strengthened - with taxpayers money. Nothing has changed.

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.