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PM To Unveil Budget For The People, Businesses
KUALA LUMPUR, Sept 7 (Bernama) -- With widespread expectations that the nation's general election will be held early next year, the Budget 2008 to be unveiled by Prime Minister Datuk Seri Abdullah Ahmad Badawi today, will likely contain goodies for everyone.
Themed "Enhancing competitiveness and sharing economic prosperity", the Budget proposals, to be tabled this afternoon, are expected to be people-friendly, with a slew of measures to ease their financial burden in the face of an increasingly higher cost of living.
"The rakyat can expect everything," Abdullah said yesterday when asked what was in store for the people in the Budget, which he will table in the Dewan Rakyat at about 4 pm.
For the man-in-the-street, there are expectations the budget proposals would be introduced aimed at raising the people's disposable income.
The move would partly help mitigate rising costs, while government employees would again be looking forward to bonuses ahead of the year-end festivities and increased expenses in January as the new school term starts.
A key feature in the Budget expected by analysts involves easing the burden of house buyers and owners of all income levels, thereby promoting home ownership aggressively among Malaysians.
On a bigger perspective, the Budget 2008 will be pro-growth, pro-investment and pro-business, with a major focus likely to be on providing an enabling environment for the private sector and to ensure that the growth momentum created by fiscal pump priming, the launch of the Ninth Malaysia Plan (9MP) and other incentives are maintained, and even quickened.
Budget 2008 will be the fourth to be tabled by Abdullah since becoming Prime Minister and taking over the Finance Minister's portfolio in October 2003.
With the event to be carried live by most radio and TV channels, all eyes will be on Abdullah from 4pm onwards as to what he has in store for the country when he tables the Budget.
It will be the first Budget after the 50th anniversary of Merdeka and comes midway into the 9MP (2006-2010).
Analysts said the government will likely spend more in 2008 than the RM164.74 billion allocated this year, as various development projects go into full swing.
In line with the 9MP objectives, the Budget 2008 will likely contain further measures to boost human capital development, particularly in higher education and skilled labour.
--BERNAMA |
