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Budget prep September 6, 2007

Posted by elizabethwong in Economy, Malaysia, Note2Self.
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Tomorrow, Friday 7th September, the Budget 2008 will be presented at 4 pm in Parliament.

Get ready to receive your candies and goodies as it’s an Election Budget. Some of the speculated bits include the increase of retirement age to 60 years; cuts possibly up to 2 % of income tax; increased incentives for home buyers, small and medium businesses; and throw in a few million here and there la, for good measure.

The problem with this sort of feel-good budgets is that feel-good doesn’t necessarily mean good for the economy. Budget deficit will go up, no doubt, and the euphoria is short-lived, as seen in last year’s Budget.

It’s not much different compared to a one-night stand – wonderful during the moment until you feel cheap and nasty afterwards (a concept plagiarised from Maddruid). Unless you like that kinda of stuff….

Will report live from Parliament tomorrow.

Comments»

1. xpyre - September 6, 2007

crap… they’re gonna increase the price of ciggies and alcohol again, aren’t they?

sigh..

EW: That is to be expected – unless they desperately covet the votes of smokers and drinkers?

2. Bob K - September 6, 2007

Hehe .. considering the number of smokers in this country, they could constitute a substantial voting bloc.

3. xpyre - September 6, 2007

heh heh.. suddenly i have images of the Marlboro Man doing adverts for BN.. that’d be a hoot!

4. madmonk - September 6, 2007

Bob K, you are right. Well, at least by population. The last count disclosed by FOMCA in 1995 was more than 3 million, nearly half of them below age 30. The current year is 2007, at least close to 30 per cent Malaysian youths are smoking, given young smokers increased by 16.9 per cent in 1996 and by 1999, the rate was 18.2 per cent in comparison. Adult smokers also grew from 21.5 per cent in 1986 to 24.8 per cent by 1996, an increase of more than one million in 10 years. Compared to one neigboring country, Thailand has 11 million smokers over the past 23 years. The government is turning the screw on smokers during the Abdullah administration and continue to put the blame on the unhealthy and danger on smoking. But the truth is the environmental pollution and poison caused by unethical practices in the various food trade and industry are causing more damage ie. increasing heart attacks and colon cancers, and not in truth attributed to smoking. Smokers continue to be victimised and I for one will not vote for the BN government, in this coming elections. That’s my right as a smoker.

Madmonk

5. wits0 - September 7, 2007

The holier than thou Abdullah administration and its so-called “sin tax” hurts not the frequent Genting goers only the manual workers. Just another rapacious excuse to fleece the poor via tobacco tax(slaughter, actually).

6. Bob K - September 7, 2007

Don’t forget the 9 years of deficit budgets – possibly 10 (we’ll find out after 4.00 pm today). And also the loan burden to finance these deficits that will continue to be borne by us and our children after those folks up there are long gone; either to the great beyond or to their beachfront retreats in the Gold Coast.

7. obnoxious9 - September 7, 2007

Do think I should fake my orgasm during today one night stand? After all, I have been with the same bloke, with the same foreplay and the same style, for the last 4 years. Maybe I should experiment sadomasochism with him. That might inspire him to look beyond his cigies, liqies and trillions spending on another blah blah blah. Anyone out there looking for a long term relationship…pleaseee.


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