How You Can Benefit From Pakatan Rakyat's Shadow Budget 2014

The shadow budget, finalised yesterday and which will be revealed in full on Thursday. Prime Minister Najib Abdul Razak - in his capacity as finance minister - will table the federal budget on Friday (25 October 2013).

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Anwar said Pakatan does not want to present the shadow budget in full too early, in order to prevent BN from "stealing" its ideas. "We don't mind if they steal our ideas, but there should be an acknowledgement of it," Anwar told a press conference today in Parliament House.

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Opposition leader Datuk Seri Anwar Ibrahim, who announced the Pakatan budget at a meeting room in Parliament, said it was aimed at three core areas.

"The three areas are strengthening the nation's fiscal standing, balanced and inclusive economic development, and improving the rakyat's quality of life".

In announcing the summary of the shadow budget, Opposition leader Datuk Seri Anwar Ibrahim said the estimation is done after taking into consideration the fragile and uncertain global economy conditions, but stressed that the deficit estimation by Pakatan Rakyat is lower than the one estimated by Barisan Nasional (BN).

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The Pakatan Alternative Budget 2014 predicts a 5.2% economic growth for and a fiscal deficit of 3.2% of the GDP( Gross Domestic Product) for the country. This is based on a spending of RM262 billion and RM228billion in revenue.

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Pakatan has estimated that the national deficit for 2014 will be RM34 billion which is around 3.2% of the national income.

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It introduces a proposed fiscal reformation that supposedly ensures a reduced deficit at 3% GDP by 2015, and achieves a budget surplus by 2018.

Anwar proposed a 10% cut in the operating costs of ministries, through temporary suspension of allowance increase for Cabinet ministers and heads of government departments.

This will be enforced by suspending ministers' and government department heads' allowances, reviewing government procurement processes and reviewing targeted subsidy for fuel, sugar and flour.

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Have a bipartisan Parliamentary Select Committee (PSC) to specifically overlook spending of the Defence Ministry due to its immense wastage and mismanagement.

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Take strict action against ministries which have records of wastage and misappropriation of funds as reported by the auditor general.

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"We will also look into postponing the National Service programme for next year until a review is done by a select committee. The programme costs us RM800 million annually. On top of that, 22 trainees have died undergoing the programme and we have cases of female trainees giving birth during their three-month stint,” Anwar said.

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“We do not oppose the GST but the timing of it is wrong,” Anwar told reporters at the preliminary launch of PR’s 2014 Budget held in Parliament here.

Pakatan said it would not consider implementing the GST until the a minimum target is achieved in terms of household income.

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Pakatan also suggested that the Real Property Gains Tax (RPGT) should return to the pre-2007 levels - where the rate is 30% for sales within the first year and the lowest rate is fixed at 5% for sales in the fifth year - to more effectively curb speculation activities.

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Reviewing the government's cabotage policy which has led to the increased price of goods in Sabah and Sarawak

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Ensuring all rural areas have 100% electricity and water supply, including Sabah and Sarawak

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Completing the long-delayed Pan Borneo highway to connect towns in Sabah and Sarawak by 2014.

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Pakatan is also suggesting a 24-hour SOCSO insurance scheme. “At this time, the SOCSO insurance scheme only covers accidents when workers are on the way to work and while working,” said Lim.
“With this 24-hour sceheme, it allows the Federal Government, employers, and employees to contribute RM1 every month,” he said.

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Implement a more comprehensive scheme to protect farmers, fisherman and cattle-breeders from weather impact, changing season and other unexpected events

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Aside from that, Pakatan Rakyat suggests to increase 200,000 new jobs in three years, mainly for those between 15 to 24 years of age.

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Building flagship vocational schools to enhance skills training programme among Malaysian youths

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Establish Special Needs School for children with special needs.

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Assist 1,854 vernacular schools with a an annual payment of RM300 per student to increase quality of education in the schools.

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Allocation of RM1200 a year to all working mothers to fund child care services for children below 12 years old.

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Setting up the National Women Provident Fund worth RM3 billion to help women. RM 600 will be given to wives whose husband contribute RM 120 to RM 1200 to the fund. The money can be withdrawn when there is death of a partner, divorce or loose of permanent income.

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Increase programmes to help OKUs who earn less than RM1,200 monthly and to increase quality of care for the elderly by increasing the number of geriatric specialist from 16 to at least 1000 by 2030.

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"We also propose to improve care of senior citizens by increasing the number of specialists in geriatrics to at least 1,000 people by 2030, from the current number of just 16," he said.