Hua Zong hopes for more China-friendly policies in Budget
HUA Zong (Federation of Chinese Associations of Malaysia) president Tan Sri Pheng Yin Huah hopes the government will adopt more “Chinafriendly” policies in the 2017 Budget and strengthen the strategic partnership to attract more investment from the superpower.
He said the government should roll out new policies in line with its decision to join China’s One Belt, One Road initiative and the signing of the TransPacific Partnership Agreement, Sin Chew Daily reported yesterday.
He noted that the government has provided tax breaks to Chinese firms involved in some mega projects in Malaysia and said similar tax breaks should be given to Chinese firms involved in the property sector.
Pheng said this on Saturday when asked by the daily for his budget wish list.
He said given the current challenging times, what the people dread to hear most in the budget speech are tax increases.
“Although the government has made it clear it will not raise the goods and services tax (GST), we hope to see a review of the list of zero-rated items to include electricity consumption, personal insurance and healthcare.”
Nevertheless, Pheng did not foresee a lot of goodies in the 2017 Budget, which will be presented by Prime Minister Datuk Seri Najib Abdul Razak, who is also finance minister, on Oct 21.
He said he believed it will be a “balanced budget” which will not be too painful on the people, particularly those in the lower middle-income and lower income brackets, whose welfare will continue to be given priority by the government.
He reiterated Hua Zong’s call for the government to provide adequate allocations for education, including according fair amounts for the development of Chinese schools.