‘Budget 2019 a move in the right direction towards reducing nation’s deficit’

SIBU: A former entrepreneur Robert Tan lauds Budget 2019, describing it a move in the right direction by the government towards reducing the nation’s deficit.

“We feel quite relieved that in spite of the (RM) 1 trillion national debt, the 2019 budget did not increase taxes.

“In fact, we also learned the lesson that we should not over spend.

“It is best to stop the giving of cash to the people when we really cannot afford it. This will also stop the people from (having) too much expectation,” he said yesterday when asked to give his thoughts on the recently tabled budget from a layman’s perspective.

We feel quite relieved that in spite of the (RM) 1 trillion national debt, the 2019 budget did not increase taxes. In fact, we also learned the lesson that we should not over spend. It is best to stop the giving of cash to the people when we really cannot afford it. This will also stop the people from (having) too much expectation.

Tan noted when the goods and services tax (GST) was replaced by sales and service tax (SST), the public are saved from paying more in taxes.

“What amuses us is the 2019 ( Budget) has maintained the fuel subsidy except for RON 97. If you can afford to buy big cars, you will not feel the pain but for ordinary folks, at least, we know what to expect.”

Finance Minister Lim Guan Eng last Friday tabled the Budget 2019 themed, “A Resurgent Malaysia, A Dynamic Economy, A Prosperous Society”.

It has three main thrusts, namely institutional reforms, people’s wellbeing and promotion of entrepreneurial culture.

There are 12 strategies - strengthening fiscal management, restructuring and rationalising government debt, increase government revenue, ensuring welfare and quality life, increasing job opportunities and marketability, improving quality of healthcare services and social welfare protection, increasing disposable income, education for a better future, initiating new economic power, grabbing opportunity to face global challenge, redefining government’s role in business and ensuring economic fairness and sustainable economic growth.

Robert Tan, former entrepreneur