FEBRUARY, 20 — This was essentially what Economy Minister Rafizi Ramli responded when a participant asked him about the worrying levels of our national debt at the ‘Parliament Lecture Series 1.0: Resetting the Malaysian Economy’ on Jan 27.
It operates like an ATM machine. The government just opens an account , and by statute forces tax payers to bank their money into the account. But the ATM card is held by the Executive which withdraws and spends money as they like — subject to parliament approval, though not during an emergency. When the government runs short of money it raises more taxes from the people.
But our economy minister is still happy with our RM1.5 trillion national debt because he knows all they have to do is to increase taxes. Contrast this with the concern and caution expressed by Prime Minister Datuk Seri Anwar Ibrahim when he revealed the high national debt. It seems Rafizi has a ready simple answer to Anwar’s worries.High income but not developed
Rafizi should know achieving a high income status is the main target of the 12th Malaysia Plan . But we cannot say we are a developed country if our corruption perception index, wage levels, employee compensation, spread of wealth, and poverty are at best third world. If the government implements IPSAS for example, many of the big-ticket scandals such as 1MDB and the missing Littoral Combat Ships would have been nipped in the bud. The annual financial statements would ensure there would be proper check-and-balance in terms of assets and liabilities and income-expenditure , compared to our ATM type of financial management.
Raman.what is the solution? My area the scrap metal business thriving..rubbish all over the road..go to bukit kemuning Shah alam..🤣🤣🤣
Rafizi idea is to manage the cash flows, Raman more about increasing taxes… mmm
There you go folks! The best answer from our Economic Minister! Sigh😔
Unfortunately the author of this article has the sole intention of belittling Rafizi and the present gov. There is not a single constructive suggestion given. Shame on one quoting such high credentials on paper.
Worst economic minister
'..while in the opposition, you were the prime mover in mobilizing the voters. But while in government, your performance is much to be desired.' A scathing & damning opinion piece against rafizi & anwar's pkr ministers!
Hahahaha
While your notions looks relevant, I believe there a lot more than how revenues obtained by the government it could be variable and not static. Since RAF, being chartered accountant and have worked in London and Malaysia will surely know financial directions and its flaws.
The government must increase corporate taxes and personal income taxes of persons earning RM1 million and above per annum. And impose higher road taxes on luxurious vehicles costing RM300,000 and above.
Everyone including the professionals thinks running the country is easy & making change is like in the corporate world, sack & replace. Harping on Rafizi's comments in relations to corporate business running & home page instead of providing constructive ideas. Just shut-up.
Piji piji...🤣
Increase tax ! 😡
Increase tax and expenses and kill the slowing economy? How about some value creation ideas like expanding the economy and capturing the huge USD1 trillion trade inflow and growth to ASEAN in the next 8 years through stable government and good governance and policies?
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