WITH the political uncertainties now mainly behind the current government, the next order of business is going to be just what will be tabled for Budget 2024 on Friday.
Allocating large sums of money towards welfare and development projects will obviously require a sizeable amount. What the government will now need to show is the political will to reintroduce a consumption tax, such as the goods and services tax , to bump up tax collection. The government will also need to show that the tax collection will deliver tangible results to the rakyat.
Our debt service ratio at 14% leaves little wriggle room before it becomes a huge problem, and eliminating higher debt is just good financial sense.
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