Dr M’s call for budget cuts is economic suicide, says Najib
PM6 says the suggestions by PM4/PM7 do not make sense
PETALING JAYA: Former prime minister Najib Razak has described as “economic suicide” suggestions by Dr Mahathir Mohamad that Putrajaya cut budget costs by postponing or cancelling development projects.
Najib said the suggestion “did not make sense.”
Using the term PM4/PM7 to describe Mahathir (as the fourth and seventh Malaysian prime minister), Najib said: “At a time when domestic and foreign investors are not investing, PM4/PM7 wants the government to stop public investment.”
He added: “If that’s the case, where will the source of economic growth and new employment come from, for this year and the years to come? It is better for him to tell the Malaysian economy to just commit suicide.”
Najib, who was Malaysia’s sixth prime minister, also cautioned Putrajaya about the negative effects of the “tax holiday” on sales tax for car sales from June 15 to Dec 31.
He said those who bought cars during this period would be burdened with debt to a point where they would spend less in future years. This was evident when the former Pakatan Harapan government had used similar tactics with a three-month tax holiday in 2018, which he said “ruined” the economy in 2019.
Mahathir’s suggestion of budget cuts was made yesterday during the debate on the 2021 budget estimates. Mahathir had said there was no need for the 2021 budget amounting to RM322.5 billion to be so big, and he questioned the RM160 million allocation for offices of the international trade ministry, RM231 million for the domestic trade ministry, and the increase for the Prime Minister’s Department from RM7.9 billion to RM11.7 billion.
He said development expenditure could be temporarily delayed or reduced in favour of spending to fight the pandemic and reviving the economy.
He also reminded the government that they still had to pay RM39 billion in debt sustained by the Barisan Nasional government, while Putrajaya’s debts could rise to RM1.3 trillion with the 2021 budget.
Najib said the suggestion “did not make sense.”
Using the term PM4/PM7 to describe Mahathir (as the fourth and seventh Malaysian prime minister), Najib said: “At a time when domestic and foreign investors are not investing, PM4/PM7 wants the government to stop public investment.”
He added: “If that’s the case, where will the source of economic growth and new employment come from, for this year and the years to come? It is better for him to tell the Malaysian economy to just commit suicide.”
Najib, who was Malaysia’s sixth prime minister, also cautioned Putrajaya about the negative effects of the “tax holiday” on sales tax for car sales from June 15 to Dec 31.
He said those who bought cars during this period would be burdened with debt to a point where they would spend less in future years. This was evident when the former Pakatan Harapan government had used similar tactics with a three-month tax holiday in 2018, which he said “ruined” the economy in 2019.
Mahathir’s suggestion of budget cuts was made yesterday during the debate on the 2021 budget estimates. Mahathir had said there was no need for the 2021 budget amounting to RM322.5 billion to be so big, and he questioned the RM160 million allocation for offices of the international trade ministry, RM231 million for the domestic trade ministry, and the increase for the Prime Minister’s Department from RM7.9 billion to RM11.7 billion.
He said development expenditure could be temporarily delayed or reduced in favour of spending to fight the pandemic and reviving the economy.
He also reminded the government that they still had to pay RM39 billion in debt sustained by the Barisan Nasional government, while Putrajaya’s debts could rise to RM1.3 trillion with the 2021 budget.
This blog is now a convicted criminal's bullhorn....
ReplyDeleteJibby, just explain what happened to the 3.6 BILLION govt pensioner's money you transferred to SRC which then vanished to Switzerland, then you stopped the Deputy FM from going there to investigate......
This is besides the 42 million you have been found guilty of stealing from SRC and the 1.7 BILLION in back taxes you owe all Malaysians.
QUOTE
Najib admits he had no plan to bring back SRC’s RM3.6 bil frozen in Switzerland
V Anbalagan -January 22, 2020
KUALA LUMPUR: Putrajaya could have brought back the RM3.6 billion of SRC International Sdn Bhd’s funds frozen at a bank in Switzerland on a government-to-government basis, the High Court heard today.
However, former prime minister Najib Razak did not have a proper plan to do so.
Najib also admitted he did not allow his former second finance minister, Ahmad Husni Hanadzlah, to meet Swiss authorities as Husni too did not have a plan.
“He did not put a formal application to the Cabinet or had a plan to bring back the money,” he said when cross-examined by ad hoc prosecutor V Sithambaram.
This came about when Sithambaram asked Najib why he had prevented Husni from leading a delegation to Switzerland to resolve the SRC funds that were frozen in bank accounts there.
The money was part of the RM4 billion loan to SRC from the Retirement Fund Inc (KWAP). It was frozen by Swiss authorities on suspicion of being laundered funds.
Questioned further by Sithambaram, Najib, who was also the finance minister then, said he too had no plans to retrieve the money.
Sithambaram: Since SRC was your baby, did you have any plan to bring back the money?
Najib: No.
Sithambaram: Could the funds have been brought back on a government-to- government basis?
Najib: Yes.
UNQUOTE
The Convicted Criminal who stole Mega Billions in Rakyat's money, has Zero credibility to pontificate on national economics.
ReplyDeleteJibby enjoyed 1.7 BILLION "tax holiday" from undeclared income 2011-2017 so who is he to talk about denying others from enjoying the same....?
ReplyDeleteQUOTE
Govt seeks RM1.69b taxes from Najib, confirms The Edge report
Adam Aziz
theedgemarkets.com
July 04, 2019
Najib slapped with RM1.7 billion summon by IRB, confirms The Edge report
KUALA LUMPUR (July 4): The Government, through the Inland Revenue Board (IRB), is seeking RM1.69 billion in additional tax assessments from former prime minister Datuk Seri Najib Razak in 2011-2017, court documents sighted by theedgemarkets.com showed.
This was after Najib failed to respond to an initial inquiry by the IRB of additional tax assessments of RM1.47 billion in March this year, resulting in a 10% hike of RM147 million in April and another compounded 5% hike of RM80 million in May.
This confirms a news report by The Edge Financial Daily on April 1, 2019 that the IRB has slapped Najib with an extra tax bill for the assessment years of 2011 to 2017 to the tune of about RM1.5 billion, quoting sources.
UNQUOTE
Wakakakakaka…
ReplyDeleteSound so familiar, in a 'decorated' twisted argument!
That (in)famous shifting of the goalposts analogy chanted by one katak-ised 犬养mfer.
Target the person, ignore the system. Then blame goalposts shifted.
i pick najibnomics anytime, he is the first pm that give free money so the rakyat can buy iphone.
ReplyDeleteIn between, u get more than the monthly crumbs of the usual.
DeleteEven a f*cked katak on heat WOULD jump on the selection.
Any wonder?
but conman/lge hv to follow the same way right, what to wonder?
DeleteWow!!!
Delete南魔萬 England on show AGAIN!
Bravo!!