Budget 2024: Possible ways the government can help the middle class

  • 📰 malaymail
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 86%

Malaysia Headlines News

Malaysia Latest News,Malaysia Headlines

KUALA LUMPUR, Oct 12 — The Anwar administration has pledged to give more support to the country’s middle class under next year’s federal spending plan as concerns linger over...

Hindu mum Loh Siew Hong’s case: High Court rejects Perlis Islamic Council’s bid to gain access to her children for religious education

Among it could be an extension of this year’s income tax cut. In a bid to give middle income households some extra cash to cope with soaring inflation, the government slashed the tax rate by two per cent for those earning between RM35,000 and RM100,000 under this year’s Budget.Prime Minister Datuk Seri Anwar Ibrahim will table his second Budget on October 13. — Picture by Firdaus Latif

In 2022 alone, the government spent some RM28 billion in petrol subsidies, more than the reserves of all 14 states combined. Government data indicated most of it actually goes into the car tanks of those who can afford to pay for fuel. Fulfilling this could be a challenging balancing act given the Anwar government’s deficit cut target and teething issues with the targeting and disbursement system that could slow down the phasing out of subsidies.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in MY

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

foodpanda: Provide upskilling, reskilling opportunities for gig workers in Budget 2024KUALA LUMPUR: Online delivery platform, foodpanda, has appealed to the Government to include upskilling opportunities for gig workers in the upcoming ...
Source: theSundaily - 🏆 25. / 51 Read more »

Ringgit gains amid anticipation of Budget 2024The market foresees limited fiscal stimulus in the upcoming budget, says analyst.
Source: fmtoday - 🏆 5. / 72 Read more »

Fahmi: KKD hopes Budget 2024 will provide allocation to develop Malaysia's 5G network - SoyaCincauFahmi said he hopes allocation for 5G will be among the main considerations for Budget 2024. Will the government continue to retain its stake in DNB after 80% population coverage is achieved?
Source: Soya_Cincau - 🏆 16. / 55 Read more »

Islamic preachers may get minimum wage as an allowance in the Budget 2024, says Zahid HamidiBEIJING (Reuters): China’s coast guard took measures to drive away a Philippine navy gunboat on Tuesday (Oct 10) after it intruded into waters around the Scarborough Shoal in the South China Sea, according to an official statement from China.
Source: staronline - 🏆 4. / 75 Read more »

Budget 2024: A holistic approach to a sustainable economy — Harjit Singh SidhuOCTOBER 10 — Each year, the Malaysian government faces the challenging task of crafting a budget that not only meets the needs of the people but also addresses economic...
Source: malaymail - 🏆 1. / 86 Read more »

Fahmi: Communications Ministry hopes allocation from Budget 2024 will help enhance country’s 5G networkKUALA LUMPUR, Oct 10 — The Minister of Communications and Digital Fahmi Fadzil said the allocation appealed by the ministry in the 2024 Budget, among others, is to focus on...
Source: malaymail - 🏆 1. / 86 Read more »