Budget prep September 6, 2007Posted by elizabethwong in Economy, Malaysia, Note2Self.
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.