KUALA LUMPUR, Oct 26 – International Trade and Industry (MITI) Minister Dato’ Seri Mustapa Mohamed (pic) has responded to the people-friendly alternative budget proposed by opposition front Pakatan Harapan.
Mustapa Mohamed’s press statement reads as follow:-
“1. It is that time of the year again when the Opposition is busy selling political rhetoric to mask their failure in coming up with a credible economic agenda. Their latest Alternative Budget once again falls short in terms of substance.
2. This Alternative Budget is a repetition of the same old promises – abolition of GST and tolls, as well as free higher education among other things. And it is this same Opposition which once again fails to provide a clear and consistent plan on how these promises will be financed moving forward.
3. As a matter of fact, the abolition of GST will leave a big hole in the Government revenue that needs to be filled up. Instead of sharing with us their plans to compensate this drop in revenue, they are only relying on the questionable assumption that a tax cut will result in higher consumption and tax collection.
4. The budget to be unveiled by YAB Prime Minister on Friday will be a sound and responsible economic plan needed to elevate our status to a high income economy, in contrast to what the Opposition has to offer.
5. For a political coalition that keeps on spreading their unsubstantiated claims that Malaysia is heading towards bankruptcy under the BN government, they are actually the ones driving Malaysia into that direction with their fiscal irresponsibility.
6. An economic agenda will only be credible if the planned expenditures are backed with necessary revenue-generating measures. I appeal to the objectivity of the Malaysian public not to be deceived by the populist and unsustainable measures outlined in the Alternative Budget.”
-Bernama
