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Dr M: Govt needs to strike balance between taxes and subsidies

KUALA LUMPUR: The government will re-evaluate subsidy provisions to ensure they are channelled to the deserving groups of people.

10/10/2019 10:00:00 AM

NSTnation: The government will re-evaluate subsidy provisions to ensure they are channelled to the deserving groups of people. NST2020Budget Budget2020

KUALA LUMPUR: The government will re-evaluate subsidy provisions to ensure they are channelled to the deserving groups of people.

Prime Minister Tun Dr Mahathir Mohamad, in revealing some details on budget allocations next year, acknowledged the existence of various complaints and also hopes regarding the direction of the country.However, the government must play a role in balancing tax revenue-generating factors with current subsidies.

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"I read in the press that many are asking for taxes to be reduced and subsidies added, but the fact is we have to balance these two things.“We are trying to reduce taxes, but the government must have the money to fund the development of facilities and various sectors, including subsidies.

“So, how can we meet the demands of the people who want to cut taxes, while subsidies are being increased?"We find that there are also groups of B40 (households with the lowest 40 per cent income) who do not need subsidies," he told reporters after opening the 10th International Conference on Green Technology and Eco Products (IGEM) 2019, at the Kuala Lumpur Convention Centre here today.

Also present were Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin; Entrepreneur Development Minister Datuk Seri Mohd Redzuan Md Yusof and Federal Territories Minister Khalid Abdul Samad.On the country's tax policy, Dr Mahathir said the government maintained the principle that higher tax rates would apply to the rich compared to the poor.

Asked on the acquisition of Plus Malaysia Sdn Bhd (Plus), he stressed that the government does not have a specific “list” in determining which bid is best for the purpose, and it depended on several factors.The government's priority in determining the party's eligibility to take over the Plus highway is the value that private agency bidders offer.

"If the value offered is reasonable and in line with government estimates, then we will approve it," he said. Read more: New Straits Times »

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