‘Budget to focus on people’s wellbeing’

JOHOR BARU: The 2018 Budget, which will be tabled this month, is expected to focus on the people’s wellbeing, with emphasis on the cost of living and economic growth.

Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah said the full details of the budget would be announced by Prime Minister Datuk Seri Najib Razak on Oct 27.

“The details will be announced by the prime minister and the focus will be on the people’s wellbeing.

“There may be focus on the cost of living and economic growth, as (the budget) will be about how we want to sustain it (economic growth),” said Irwan after the launch of the Bumipreneurs of Tomorrow (Bahtera) event for the southern region at the Persada Johor International Convention Centre here yesterday.

Menteri Besar Datuk Seri Mohamed Khaled Nordin launched the event.

Irwan said a main agenda of the budget would be entrepreneurship as the government wanted to further develop this sector.

“Entrepreneurship will be a main agenda in the budget as there will be details on new start-up companies and SMEs (small- and medium-sized enterprises). There will be a lot of focus on these aspects.”

However, he refused to comment on whether the budget would include reductions in individual or corporate taxes.