Statement of MCA President Datuk Seri Dr Chua Soi Lek on Budget 2013
It is wide ranging and a well thought and a thoughtful budget aimed at addressing the concerns and welfare of the people at large.
The forecast of economic growth of 4.5% to 5% is commendable in view of the strong economic headwind against Malaysia.
As promised, Prime Minister Dato' Sri Najib Abdul Razak is working towards reducing its fiscal deficit from 4.5% to 4% next year.
While there is the RM10billion development scheme for small and medium enterprises, more could have been done to help SMEs to cope with the implementation of minimum wage next year.
Reflecting the caring nature of the government, the new loan facility and group insurance scheme for petty traders is certainly most welcomed.
It is also timely that a special allocation of RM500million is given to enhance teaching skills in core subjects such as Malay, English, mathematics and science.
The emphasis given to such core subjects underlines the government's commitment in enhancing the quality of our future workforce to be equipped with the essentials of good communication skills.
MCA would like to take the opportunity to thank the Prime Minister for another RM100million for Chinese primary schools. This shows the continued recognition of Chinese education in the country.
The budget also targets youths especially on soft skill training to increase their employment ability. Each year some 100,000 SPM holders enter the job market and this will provide them with the required skills to be more hireable and self-reliant.
The youths aged between 21 and 30 will also be happy with the RM200 cash rebate for buying smart phones.
To encourage entrepreneurship among the younger generation, the RM50 mil Young Entrepreneurs Fund would motivate more youths to venture into businesses of their own.
Attractive soft loans are also offered at a 2% interest rate subsidy for loans up to RM100,000 with a 7-year repayment period. Youths aged 30 and below should chanced upon such a fund.
We hope the commitment to build 123,000 units of affordable houses will also be met so that more on the waiting list would have a roof over their head.
For the lower income group, the Government has offered a 1% tax reduction for those with taxable income of RM2,500 to RM50,000.
The BR1M 2.0 of RM500 for those with household income of RM3,000 a month, is what MCA has been fighting for.
What came as surprise was the one-off cash aid of RM200 for single youths aged 21 and above with monthly income of less than RM2,000.
Parents will welcome the continued assistance of RM100 for primary and secondary students as well as book vouchers worth RM250 for tertiary education students.
The discount for National Higher Education Corporation (PTPTN) study loans borrowers who settle their loans promptly is most appropriate in inculcating good repayment habits.
The Government must also be congratulated for having a special scheme to train more women directors at decision making level.
The Prime Minister has been very generous in taking care of the civil servants by announcing one and a half bonus for them.
We hope civil servants will continue to increase their productivity and friendly service to the public.
The concerns over security are also addressed in the Budget where more closed circuit television (CCTV) would be installed and the number of patrolling police increased.
The provision to set up a Motorcycle Patrolling Unit to monitor housing areas is also most timely in view of many reported cases of crime in housing estates.
It would enhance a better neighbourhood watch with more police presence and increased surveillance to check crime.
To promote prudent spending, the Government should seriously look into reducing Government expenditure and leakages.
The rationalisation of subsidy and broad-based tax structure should also be relooked so that people will not be burdened by inflation.
Datuk Seri Dr Chua Soi Lek
MCA President
-MCA online-
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