Dr Sim on Recalibration of Budget 2016

suppadmin | January 28, 2016

SUPP overall views the Recalibration of Budget 2016 positively, especially when looking at the move towards fiscal consolidation to achieve the 3.1% deficit while striving to move the nation forward under the current global economic reality impacted by the slump in crude oil prices and the slower growth of economic power houses of the world—China and the US.

I applaud YAB PM when the announcement today sees the continued investment in human capital development through various programmes like MyBrain15, MyPhd, continuation of JPA scholarships, SKIM Latihan Bumiputera and SKIM Latihan Akademik IPTA; is commendable as it addresses the need to enhance and diversify Malaysia’s human capital productivity. This is required to facilitate the movement of labour productivity into the higher value-added and knowledge-based economy that will in turn create higher paying jobs. The Chinese old beliefs that ‘one never deprive education no matter how poor one is’ is being reflected in the announcement today.I strongly encourage Sarawakians to look into all possible avenues and opportunities that the government is providing to obtain higher qualification and to be upskilled in order to remain relevant in today’s economy.

Development for Sarawak will be on track and the 10 additional UTCs announced today will benefit Sarawak as Miri has now been added to the list. The announcements reflect considerable investment to better serve the people outside of capital cities.

I am glad that the government is responding to the needs of the rakyat especially in tackling the issue of rising cost of living. From now onwards, registered and qualified households will receive 20kg of rice every month, and such direct assistance will immediately address the basic needs of the people, for those in dire need. ‘This is a targeted approach which may be effected when implemented properly,’

Besides, up to RM2000 tax relief extended to individuals earning RM8000 and below per month will help increase the disposal income of individuals. ‘ This is a good news to fellow Sarawakians as I believe that most individuals in Sarawak will now enjoy this extra relief, and this would mean that we have more disposable income in hand although we will only receive the rebates when we file our tax returns in 2017. ’