Budget 2015: What to expect?

Each year, the well-being of the people remains a focus in the tabling of the budget and the government takes into account many initiatives and guidelines to meet the needs and challenges faced by Malaysians.

But, despite the effort, many still feel the ‘distance’ between execution and implementation of the policies and initiatives.

The hopes and aspirations are then voiced through various channels in order for it to be given the right attention.

The uncertainty about their financial power especially with the upcoming introduction of the Goods and Services tax (GST) and the fuel subsidy cut remains a concern among the public.

In view of this situation, Malaysians still expect a well-balanced adjustments.

Based on the many surveys conducted, employment, property ownership, cost of living, education and social welfare remain a priority among Malaysians.

Cost of Living: Government should monitor and punish those taking advantage of the RON95 and diesel subsidy cut and to use it as an excuse to increase goods prices.

Employment opportunities: The services sector such as oil and gas, maintenance, repair and restoration, creative design services, electrical manufacturing and information and communications services should be the focus as it is able to produce a higher return to the country’s gross domestic product (GDP).

Property ownership: To increase the development of affordable housing (PR1MA) to benefit the urbanites. To control the construction costs without compromising on quality.

To decrease the stamp duty for properties built for the lower and middle-class Malaysians.

BR1M: To change the eligibility of BR1M recipients to those with a household income of RM5000 as compared to a total household income of RM3000 to RM4000 in 2014.

Education: Investing in the professional teaching force and infrastructure projects will benefit the education sector in the future. Also, financial assistance for students to buy books and basic necessities for their studies.

Youth: To create a financial assistance scheme for graduates and youth to create a business as a source of income.

Social welfare: Economist Prof Amir Baharuddin said the government should not ignore the disabled and elderly. The government is expected to increase the allocations for the disabled by providing job opportunities and also access to healthcare for the elderly.

Middle Class: Middle class Malaysians may complain that they are not eligible for BR1M but are burdened by the increased cost of living. The middle-income group is hoping for a token to accommodate to the fuel price hike and also hoping for a decrease in the personal income tax rate.