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Saturday, September 8, 2007

9. Budget 2008


Theme: Enhancing Competitiveness and Sharing Economic Prosperity

Development Expenditure: RM 128.8 Billion
Operating Expenditure: RM 48.1 Billion
Total: RM 176.9 Billion

Goodies at a glance:

> FREE EDUCATION
no school fees
no examination fees
free textbooks to all students
more allowances for teachers

> COLA INCREASE FOR HIGHER EDUCATION STUDENTS
in local and foreign universities on government scholarships

> CORPORATE TAX DOWN
26% in 2008
25% in 2009

> SABAH AND SARAWAK
RM 8 billion for infrastructure

> POLICE EQUIPMENT
RM 6 billion to combat crime

> FLOOD MITIGATION
RM 1.1 billion for projects

> EFFICIENT TRANSPORTATION
RM 12 billion for K.L. and Penang

> MORE LOW COST HOUSES
for lower income groups

> EPF WITHDRAWAL
to settle monthly housing loans installments
special fund for lower income groups unable to get housing loans

> DISABLED ALLOWANCE UP

> SENIOR CITIZEN BONDS IN

Surprises:

No bonus for civil servants
No sin tax on cigarettes and liquor

A realistic, progressive and robust budget to reduce fiscal deficit and more cash in the pocket for all.