Yesterday PM announced his budget. I didnt watch the live telecast because it was boring!!!!!!!! Anwar Ibrahim did a better job when he was the Deputy Prime Minister/Finance Minister. Every one had to get dictionary to understand the words he used in his budget presentation. This budget is prelude to an election in 2007. I doubt AAB will call for election after April 2008 by which time Anwar is eligible to contest. UMNO leaders are afraid of Anwar Ibrahim. They claimed they had buried him but they are afraid of his shadows growing bigger in their midst. So the budget benefits a cross section of the people. It is always the civil servants who benefitted the most - housing, allowance, 2 months bonus, loans, etc. But there is no reduction on cars. I wonder why. The cars dealers are crying of slacking sales. Some secondhand car dealers had closed shops. Proton posted a loss in Q2 Profit and Loss Result....Tax increases for sin products which is good but I dont think it will work. Addicts will find it expensive but they will buy and indulge in these unhealthy goods - rain or shine they will go and buy!! Corporate tax will be lowered to 27% in 2007 and 26% in 2008 and pensioners will get a one off payment from $200 to $500 but I doubt it will help these pensioners. It is better to put in a trust fund earn interest or invest it to get better returns and the banks guarantee the principle sum invested. In this way the pensioners will get a better deal every year. I have nothing much to gain in this budget. I have nothing to take and give. I am practically on my own..
Saturday, September 02, 2006
budget 2007
Yesterday PM announced his budget. I didnt watch the live telecast because it was boring!!!!!!!! Anwar Ibrahim did a better job when he was the Deputy Prime Minister/Finance Minister. Every one had to get dictionary to understand the words he used in his budget presentation. This budget is prelude to an election in 2007. I doubt AAB will call for election after April 2008 by which time Anwar is eligible to contest. UMNO leaders are afraid of Anwar Ibrahim. They claimed they had buried him but they are afraid of his shadows growing bigger in their midst. So the budget benefits a cross section of the people. It is always the civil servants who benefitted the most - housing, allowance, 2 months bonus, loans, etc. But there is no reduction on cars. I wonder why. The cars dealers are crying of slacking sales. Some secondhand car dealers had closed shops. Proton posted a loss in Q2 Profit and Loss Result....Tax increases for sin products which is good but I dont think it will work. Addicts will find it expensive but they will buy and indulge in these unhealthy goods - rain or shine they will go and buy!! Corporate tax will be lowered to 27% in 2007 and 26% in 2008 and pensioners will get a one off payment from $200 to $500 but I doubt it will help these pensioners. It is better to put in a trust fund earn interest or invest it to get better returns and the banks guarantee the principle sum invested. In this way the pensioners will get a better deal every year. I have nothing much to gain in this budget. I have nothing to take and give. I am practically on my own..
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