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.