2006, a year as yet unstained by human deviation, corruption and natural destruction -- a year, too, of new discoveries and achievements waiting to be made. Will the Malaysia prosper? And on the economic side, what will impact our people? What do local soothsayers predict for the new year? natural disasters extent, petrol price surges, electricity rate raises, interest rate rises, share prices sour, intro of GST, inflation and the health concerns for chicken make this 2006 to be a challenging year!
The good things -- political stability is what we are going to enjoy as no election will happen in this year; more income tax reliefs for personal such as increased child refief and lenient estimating tax payable will make taxpayers less burdened; returning of foreign investment is likely to take the hike with the attractiveness of increased interest rate and brassy shares; 50% discount on stamp duty for SMEs borrowing will give SMEs more oats; national saving of about RM16 billion to RM18 billion upon subsidy on petroleum products will drive the budgetary deficit to a lower point of GDP from 3.8% of 2005; much lower import duty on household commodities such as clothing and electrical goods will increase consumption spending and is economically beneficial; and the conservative government steering by Pak Lah who is a non spendthrift alike is likely to save something for the nation.
The bad things -- petrol price will go up due to less subsidy; relatively the cost of living would be increased in term of inflation and probably you would see the increment of electricity rate, toll charges, food prices etc. which would be a big belt for retirees; educational cost would never be justified with cheaper college fee although the gorvernment will give out the investment tax allowances of 100% on qualifing capital expenditures to higher learning institutions; overspending is supposed to spring up as young consumers are vulnerable to persuasive life such as credit cards, telephonic goods and cars that promoting consumer debts, thus putting them at risk of deficits; Medical bill will not be lighten as public hospital is going to collect charges.
The ugly things -- corruption is seemed an unfinished story; social disorder is seemed an inexorable episode; education policy continues to deliberate between mother languages and English, and social services which were all the time lacking societal governance strive to demonstrate with no outstanding manner.
Either good or bad, it is certainly hoping for happier life then the retrospective year. The budget 2006 made last year was aiming to reduce the burden of the tax paying public brought about by the increase in petrol price, improve the quality of life of Malaysians and at the same time accelerate economic activity. May Malaysian enjoy a better living? May the public outlays be scrutinized with more meanings? Inestimably I hope so.
The good things -- political stability is what we are going to enjoy as no election will happen in this year; more income tax reliefs for personal such as increased child refief and lenient estimating tax payable will make taxpayers less burdened; returning of foreign investment is likely to take the hike with the attractiveness of increased interest rate and brassy shares; 50% discount on stamp duty for SMEs borrowing will give SMEs more oats; national saving of about RM16 billion to RM18 billion upon subsidy on petroleum products will drive the budgetary deficit to a lower point of GDP from 3.8% of 2005; much lower import duty on household commodities such as clothing and electrical goods will increase consumption spending and is economically beneficial; and the conservative government steering by Pak Lah who is a non spendthrift alike is likely to save something for the nation.
The bad things -- petrol price will go up due to less subsidy; relatively the cost of living would be increased in term of inflation and probably you would see the increment of electricity rate, toll charges, food prices etc. which would be a big belt for retirees; educational cost would never be justified with cheaper college fee although the gorvernment will give out the investment tax allowances of 100% on qualifing capital expenditures to higher learning institutions; overspending is supposed to spring up as young consumers are vulnerable to persuasive life such as credit cards, telephonic goods and cars that promoting consumer debts, thus putting them at risk of deficits; Medical bill will not be lighten as public hospital is going to collect charges.
The ugly things -- corruption is seemed an unfinished story; social disorder is seemed an inexorable episode; education policy continues to deliberate between mother languages and English, and social services which were all the time lacking societal governance strive to demonstrate with no outstanding manner.
Either good or bad, it is certainly hoping for happier life then the retrospective year. The budget 2006 made last year was aiming to reduce the burden of the tax paying public brought about by the increase in petrol price, improve the quality of life of Malaysians and at the same time accelerate economic activity. May Malaysian enjoy a better living? May the public outlays be scrutinized with more meanings? Inestimably I hope so.
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