Share This

Saturday 4 March 2023

MAHATHIR: A RACIST EXPOSED, Crime Watch Malaysia!

 

 

Arthur Toh

 “At the moment he is not trying to save the country, he is more worried of what will happen to his children in the future. Even the wealthiest person on earth would not be able to give birth to three ‘billionaires’. TMJ.

 
 
Related posts:
 

US hypes old 'lab-leak' theory in new information war operation against China

 


Three years into the COVID-19 pandemic, the US again gave the "lab-leak" theory a major boost, as its Energy Department, citing "new intelligence" but holding "low confidence" in it, joined the FBI in smearing China.

Reported exclusively by the Wall Street Journal (WSJ) on Sunday, the claim immediately made headlines in major US news outlets. However, its timing and source "only show the low credibility" of the report, analysts said, adding that the new hyping of an old topic is part of the US' political and information warfare with China.

Mao Ning, spokesperson of the Chinese Foreign Ministry, said at Monday's routine press briefing that the origins-tracing of SARS-CoV-2 is about science and should not be politicized. Certain parties should stop rehashing the "lab leak" narrative, stop smearing China and stop politicizing the origins-tracing, she noted.

The WSJ reported that a classified intelligence report provided by the Energy Department to the White House and key members of Congress said the virus likely spread due to a mishap at a Chinese laboratory.

The department admitted to having "low confidence" in the conclusion, which was made after "new intelligence" was gathered by the department's network of national laboratories, according to the WSJ report.

One of the WSJ report's authors is Michael R. Gordon, who was behind the "weapons of mass destruction" narrative the US fabricated to justify its invasion of Iraq 20 years ago.

Lü Xiang, research fellow with the Chinese Academy of Social Sciences, told the Global Times on Monday that the timing of the hype is not a coincidence, and that the US will not leave COVID out of its "ammunition depot" against China.

China's smooth transition in its COVID-response policy over the past months didn't give the US a chance to attack China over an out-of-control epidemic or economic failings, which is why the US had to rehash the same old story, Lü said.

Lü also ascribed the latest hype to the earlier-than-usual presidential election campaign, as media will bring topics to the table for both parties to "make a fuss about."

The WSJ report has already prompted debate between Trump supporters and opponents on Twitter. Some netizens also suspected the report aims to divert public attention from recent US mishaps, such as the train derailment and chemical leak in Ohio.

The WSJ report remained very ambiguous in its wording despite its sensational headline. National Security Advisor Jake Sullivan said there is "not a definitive answer" on the origins tracing as the intelligence community has "a variety of views."

Being ambiguous and non-official and using media rather than government departments to announce something demonstrated the US' skill in fighting a political war, Lü said.

Hysterical crusades against China have become a signature of the US in our time. To win the competition with China, the US will not let a single chance go by to smear China, whether it is a balloon that has gone astray, a carefully planned "lab-leak" theory, or unfounded weapon supply accusations regarding the Russia-Ukraine conflict, the expert said. 

Source link

RELATED ARTICLES
 

The COVID-19 “lab leak” theory totally twisted facts and it’s merely a lie fabricated by anti-China forces for .

COVID origins tracing is on US' 'anti-China production line' again: Global Times editorial

As we write this editorial, the hearing has not yet started, but we can roughly imagine what kind of scene it will be. From the "weapons of mass destruction" in Iraq to the "White Helmets" in Syria, they are all produced on the same assembly line. Historical experience tells the world that no matter how many lies Washington spreads and how many humanitarian disasters it causes, its political elites and media may not even blush. Otherwise, how could this shameful political farce be staged one by one? 

 

China resolutely opposes any form of political manipulation with the excuse of COVID origins-tracing: Chinese FM

The Chinese Foreign Ministry refuted on Wednesday the accusation made by the FBI that a leak from a laboratory in ...

 

US' hype of COVID-19 origin-tracing issue will only undermine its own credibility: Chinese FM

Chinese Foreign Ministry on Tuesday refuted the COVID-19 origin-tracing issue hyped up by US Ambassador to China, warning that politicizing the issue will not smear China, but will only undermine its own credibility.

 Related posts:

China says ‘no’ to US smears over COVID-19 as 20 million Chinese petition for Fort Detrick probe

 Update Online petition for Fort Detrick probe draws 20m signatures; China urges US to open UNC lab, disclose military games patients...

US president Donald Trump is world's biggest driver of Covid-19 misinformation, leading USA to super spreader of coronavirus

 

The world hijacked by Washington’s selfishness, Should India thank US' belated aid? 第三波疫情猛如虎 !

 

What Do You Want from Us? Message to Donald Trump, western media attacking China’s COVID-19 record

 

WHO-China joint report on virus origins:Wuhan Lab-leak is "extremely unlikely", ‘more states should be probed’...

 

:

Lie, Smear campaign of COVID-19 origin probe;Cornerstone of strategic deterrence

 

FORT DETRICK, THE UNITED STATES BIOLOGICAL WARFARE LAB IS WHERE CORONAVIRUS ORIGINATED

 

Coronavirus Covid-19 started in US, CDC director says so!

 

US owes world an answer on bio lab as UN Security Council to hear Russian claim of US labs in Ukraine

 

Human right violators: USA,Canada, Australia, UK, EU - Racism against Asians: Forever foreigner, alien or pendatang

 

 

The CHINESE & the WORLD, Lesson In History: *Ego or fear of retribution* ?

 

 

When White House cracks down on TikTok, what is US afraid of?

 


The US, with around 750 military bases across the globe, warships in most oceans, which is waging a proxy war, stirring up conflicts here and there, is now vehemently making a fuss about so-called "threats" it is confronting: Earlier this month, it was balloons, and now, it is TikTok.

The White House on Monday gave government agencies 30 days to ensure they do not have short-video platform TikTok on federal devices and systems, Reuters reported on the same day. In December last year, US Congress voted to bar federal employees from using the video app on government-owned devices. Now, US President Joe Biden officially tossed out the deadline.

The decision is as unreasonable as Biden's order to shoot down balloons with missiles. It is a typical irrational action generated by security anxiety stemming from a kind of mental illness, Shen Yi, an international relations expert from Fudan University, told the Global Times.

If the move reveals anything, it is that the US has gone hysterical in its anti-China stance while its relevant decisions have gone far beyond reality. TikTok has been trying to demonstrate its global nature. However, in the eyes of American elites, being born in China is an "original sin."

Over the past years, TikTok has been questioned on whether the Chinese government has access to US user data; whether its content is censored by China; whether its stored US user data is based on US soil … However, after TikTok appropriately responded and met all these requirements, the US still claims the app is a "national security threat."

In 2020, then president Donald Trump even tried to mandate that ByteDance, TikTok's parent company, strike a deal to sell TikTok's US operations. In other words, the US government has been attempting to harm this globally leading short-video platform which was not born in the US, using various excuses.

The latest ban is aimed at government devices and will only affect a small portion of TikTok's users in the US, yet some observers believe that, the US is actually attempting to fan the flames of a wider call to ban the app throughout the country. On the global arena, some US allies have already followed suit. Also on Monday, Canada announced a ban on TikTok from government-issued devices. Last week, the European Commission and Council of the EU, EU's two biggest policy-making institutions, banned staff from using the app.

It is a mystery why the US and its Western allies are afraid of TikTok, when there is no evidence to prove its "danger," and when it is basically a purely entertainment platform, which people can download out of their own free will. Against the backdrop, banning TikTok is absurd. And the US is behaving like the emperor in the folktale "The Emperor's New Clothes." Don't ask why he has no clothes, he is just being unreasonable and even mentally ill, Shen said.

"How unsure of itself can the world's top superpower be to fear a young people's favorite app like that?" Mao Ning, Chinese Foreign Ministry spokesperson, asked at a daily briefing on Tuesday, when responding to the White House's TikTok ban.

It cannot be ruled out that the Biden administration needs some scores to demonstrate its capability to keep staying in the White House and protect so-called US national security, observers noted. Moreover, reports show that TikTok was the most-downloaded app worldwide. That being said, killing TikTok means US internet companies will have one less competitor.

US Federal Chief Information Security Officer Chris DeRusha said this latest decision on TikTok is "part of the Administration's ongoing commitment to securing our digital infrastructure and protecting the American people's security and privacy."

US officials keep talking about "American people's security and privacy," do they mean it? As George Galloway, a six-term British parliamentarian, tweeted, "It's American intelligence, not Chinese, which is coming through your back door, your front door and all of your windows."

Worse, it was speculated that Washington's balloon frenzy earlier in February has a lot to do with covering up the scoop over what US did behind Nord Stream bombing. There is also reason to suspect the hype of TikTok is aimed at distracting people from Ohio derailment and chemical spill. Thanks to social media platforms like TikTok, short videos can be uploaded anytime and anywhere. And they helped to push the story into the public when traditional mainstream media covered their eyes. US' crumbling railway system is shocking, and US government's attempt to cover up the toxic train has been nakedly exposed to the world. 

 

 Source link

 

Related:

 

;

Sunday 26 February 2023

'US plan for destruction of Taiwan' draws public outcry, distrust grows toward Washington


Biden had revealed the US plan to destroy Taiwan

To kill everyone in Ukraine and Taiwan!! Fight against China and Russia!!! Are you an idiot for being the leader of China and Russia?

The United States issued bonds to borrow one trillion dollars from China,!! Biden used the borrowed money to fund anti-China groups!!, and encouraged them to attack China!! Can President Xi Jinping still expect peace?

Biden said our plan to destroy Taiwan is more catastrophic than destroying Ukraine!! It is to use the evil empire China+Russia as a tool in disguise!! Destroy Taiwan+Ukraine these two little allies!!

So letting the EU and Russia kill each other is also part of Biden’s plan!! No wonder the destruction of Nord Stream 2!!Ultimately killing the poor of America!!

Jesus said that God loves everyone!! Spread rumors about the so-called evil China, Russia, North Korea, and Middle East countries, and tell the poor to go to the battlefield to destroy them!! Is it in line with what Jesus said? May I ask the poor in the United States? Are you willing to go to the battlefield and die for Biden?

 'US plan for destruction of Taiwan' draws public outcry

A screenshot of a recent Taiwan media discussion on a social media post of the US president's purported claim of Washington's "plan for the destruction of Taiwan".  (PHOTO / CHINA DAILY)

 A recent controversy sparked by a purported “US plan for the destruction of Taiwan” has sparked growing distrust of and dissatisfaction in the United States by the island’s residents for using the island as a pawn to contain the Chinese mainland.

The remarks came in a social media bombshell dropped in Washington by Garland Nixon, a renowned American radio program host, who quoted a White House insider as saying that Biden had revealed the US plan to destroy Taiwan.

The incident also shows that Taiwan residents’ distrust of the US is growing and they are not willing to be used by US politicians

The post, on Feb 16, read that “when asked ‘if there could be any greater disaster than the neocon Ukraine project, President Biden responded, “wait until you see our plan for the destruction of Taiwan”.

The bombshell went viral on Taiwan’s social media platforms, trigging a public outcry and wrath against US politicians. Many media programs held debates on US’ intentions to exploit and sacrifice Taiwan for its hegemonic purposes, including plotting to undermine Taiwan’s chipmaking sector.

According to a media report by Hong Kong-based Ta Kung Pao, Zhang Wensheng, deputy dean of the Graduate Institute for Taiwan Studies at Xiamen University, said that although the post’s content has not been verified, it has always been evident that the US has used Taiwan as a pawn to contain China and never cared about the safety or interests of Taiwan residents.

The incident also shows that Taiwan residents’ distrust of the US is growing and they are not willing to be used by US politicians, Zhang added.

The island’s authorities rushed to defend the US stance, but analysts from the island brushed aside their simple denial with examples of US moves against Taiwan interests in the name of “shared value”.

A representative of a Taiwan youth council said US politicians and high-ranking military personnel have been pushing to liken Taiwan to Ukraine, when they are vastly different. American politicians and military personnel hype up tension across the Taiwan Strait in order to peddle more weaponry to Taiwan and turn the island into an arms storage facility for the US, the representative said.

A Feb 24 report by Bloomberg website headlined: “US to bolster its small force on Taiwan” said that US troop numbers in Taiwan “would grow to between 100 and 200.”

If the Bloomberg report is true, the US is blatantly breaking its promise to and infringing the sovereignty of China as Washington officially acknowledges that the People’s Republic of China is the sole representative of China and Taiwan is part of China, analysts said. The US is also violating international law and contravening the principles of the Charter of the United Nations, its founding document. 

 Source link

 

Distrust grows toward Washington amid revelation of US’ ‘destruction of Taiwan’ plan

Photo taken on Jan 12, 2019 shows the White House and a stop sign in Washington D.C., the United States. Photo:Xinhua 
Photo taken on Jan 12, 2019 shows the White House and a stop sign in Washington D.C., the United States. Photo:Xinhua

Along with reports of enhanced interactions between the US and the island of Taiwan, the US was also reported to have been considering plans to destroy the island in the event of a military conflict between the island and the Chinese mainland. Related reports have seriously damaged the belief that the US can "defend the island," and demonstrated that the US is just using it as a pawn.

US radio talk show host Garland Nixon last week wrote on Twitter that White House insiders said that US President Joe Biden had warned about the "destruction of Taiwan," when asked if there could be any greater disaster than the Ukraine crisis.

When asked for comments on the so-called "destruction of Taiwan" plan at a press conference on Friday, Chinese Foreign Ministry spokesperson Wang Wenbin said, "I also want to know what the 'destruction of Taiwan' plan is. The US should give a definitive explanation."

He noted that Taiwan is China's Taiwan and China will firmly safeguard its national sovereignty and territorial integrity.

Similar plans have been revealed before. In late 2022, Taiwan authorities said that they had rejected a proposal to destroy its flagship semiconductor industry in the event of a military conflict with the mainland.

The "destruction of Taiwan" must be one of the US' options, and it could even be one of the options that preparations are being made for, Zheng Jian, director of the Graduate Institute for Taiwan Studies of Xiamen University, told the Global Times.

For the US, the best strategy is to deter the Chinese mainland without using a single soldier. The middle and worst policy is to destroy Taiwan, or the essence of Taiwan, such as taking away TSMC and the talents on the island, Zheng explained.

Amid reports of the US' plans for destroying and abandoning the island, Washington has also recently ramped up military support for Taiwan.

It has been reported that Taiwan authorities plan to boost military exchanges with the US, after the island's regional leader Tsai Ing-wen met with some US lawmakers recently. The Wall Street Journal reported on Thursday that the US plans to deploy between 100 and 200 troops to Taiwan island in the coming months, up from roughly 30 there a year ago.

Zheng noted that the US' decision to release the news just before the first anniversary of the Russia-Ukraine conflict reveals its real intention, which is to closely bind the Taiwan question and the Russia-Ukraine conflict.

However, the Taiwan question is fundamentally different from the Ukraine issue, as China has reiterated on many occasions. The most fundamental difference is that Taiwan is an inalienable part of China's territory and the Taiwan question is completely China's internal affair, one which brooks no external interference.

Illustration:Liu Rui/GT 
Illustration:Liu Rui/GT

The US has made the Taiwan question, which is entirely China's internal affair, a strategic point for its competition with China. However, it has no confidence in defeating China and is making multiple plans to impede China's reunification, Zhu Songling, a professor at the Institute of Taiwan Studies of Beijing Union University, told the Global Times.

This revelation of so-called "destruction of Taiwan" plan has sparked heated discussions on the island, with the Democratic Progressive Party (DPP) on Wednesday labeling related reports as "false." 

快新聞/拜登有「毀滅台灣計畫」? 外交部嚴正駁斥

 快新聞/拜登有「毀滅台灣計畫」? 外交部嚴正駁斥:絕非事實 

外交部發言人劉永健。(圖/翻攝自中華民國外交部官方YouTube)

The plan and previous US media reports on "blowing up the TSMC" have frustrated Taiwan secessionists and some pro-US politicians, said Zhu.

What the US has done to other countries and regions, especially those it called "allies" in the past decades, clearly shows how fragile US promises and commitments are. The US' continuous fanning of flames in the Russia-Ukraine conflict has also turned away more people on the island of Taiwan, analysts said. 

 Source link

 

RELATED ARTICLES
 

Malaysian Budget 2023 revised up to RM388.1bil, GDP to grow 4.5% in 2023 from the expanded 8.7% in 2022

Budget 2023 revised up to RM388.1bil, GDP growth at 4.5%

KUALA LUMPUR: Budget 2023 is revised upward to RM386.1 billion, making it the largest allocation in Malaysia’s history, as the government continues to provide support to steer the economy, according to the Ministry of Finance (MoF).

The budget allocation is an upward revision from the RM372.3 billion budget tabled by the previous government in October 2022, which could not be passed before Parliament was dissolved.

In its Updates on Economic & Fiscal Outlook and Revenue Estimates 2023 report released today, the ministry said of the amount, 74.8 per cent will be utilised for operating expenditure while the remaining 25.2 per cent is for development expenditure.

A substantial allocation of 23.5 per cent will be provided for emoluments, subsidies and social assistance (15.2 per cent), economic (14.3 per cent), debt service charges (11.9 per cent), supplies and services (8.3 per cent), retirement charges (8.0 per cent), social (6.9 per cent), security (3.0 per cent), grants and transfers to state governments (2.1 per cent), general administration (1.0 per cent) and others (5.8 per cent).

MoF said funding for Budget 2023 will be sourced from income tax totalling 39.9 per cent of the total allocation, borrowings and use of government’s assets (24.5 per cent), non-tax revenue (19 per cent), indirect tax (14 per cent) and other direct tax (2.6 per cent).

Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim said Budget 2023 will focus on addressing the high cost of living, further strengthening the social safety net and enhancing the micro, small and medium enterprises (MSMEs) eco-system.

He said the government will also examine ways and means to reduce market disruptions as well as streamline business processes through the adoption of high technology and digitalisation.

"The government is committed to protecting the livelihood of the rakyat, upholding integrity, enhancing a caring and compassionate society, as well as improving the effectiveness of public and private sector delivery systems.

"These commitments can be achieved through a methodical approach focused on the aspect of thought, spirituality and infrastructure, which is centred on the framework of Malaysia Madani that focuses on shaping the future of the nation and realising its full potential,” he said.

Malaysia Madani framework is supported by six core values -- sustainability, prosperity, innovation, respect, trust, and lastly, care and compassion.

After Anwar was sworn in, the Dewan Rakyat had, on Dec 20, 2022, passed a RM163.7 billion temporary operating budget to allow the government to spend a portion of the total estimated expenses during the months prior to the retabling and passing of the Supply Bill for 2023.

The amount includes RM107.7 billion, which is from the Consolidated Fund, to pay for emoluments and aid for the first six months of 2023, and RM55.96 billion from the Development Fund to fund the ongoing development projects.

Moderate 2023 GDP Growth

Anwar said Malaysia’s gross domestic product (GDP) is poised to record a growth of approximately 4.5 per cent in 2023, backed by the nation’s sound macroeconomic fundamentals, robust domestic demand coupled with the effective implementation of the 12th Malaysia Plan (12MP).

With the transition to the endemic phase and the reopening of international borders, Malaysia has seen an increase in tourist arrivals as well as trade and business activities, contributing towards a steady recovery, especially in the services sector, he said.

"2023 is expected to be a challenging year. The government will continue to be vigilant of economic headwinds as well as any potential geopolitical conflict in order to devise the appropriate strategies and actions,” the Prime Minister said.

The report indicated that the services sector will continue to steer growth in 2023, expanding by 5.3 per cent on the back of better domestic demand buoyed by wholesale and retail trade, transportation and storage, information and communication, food and beverages and accommodation, and finance and insurance subsectors.

Anwar also said the government remains steadfast in balancing the need to safeguard the well-being of the rakyat and the nation while ensuring a sound and sustainable fiscal position.

This is crucial in maintaining the high standing of the country's sovereign ratings and to ensure the country’s premier position as an investor- and business-friendly country, especially in creating and attracting high value-added investments to achieve quality and inclusive growth, he said.

MoF said the acceleration of infrastructure projects with high multiplier effects, robust growth in private investment and continuous external demand particularly among major trading partners will further support the economy.

It also said the contribution of the tourism-related sector is expected to improve following an increase in tourist arrivals.

"Looking ahead, efforts will be intensified to position Malaysia as a major investment destination. Various measures will be implemented to uplift and enhance the economic potential for Malaysia to become more competitive, sustainable and inclusive,” it said.

It added that the government will continue to provide counter-cyclical policy support as well as expedite structural reforms to strengthen the country's growth prospects and resilience.

As for trade, the total trade is expected to expand further to RM2.887 trillion in 2023, with an estimated surplus of RM264.33 billion.

Strict Fiscal Discipline

Anwar said the government will prioritise strengthening the governance ecosystem at all levels to increase public trust in government institutions.

This initiative will focus on transparency, integrity and efficiency, particularly in government procurement, good governance, and the developmental role of government-linked companies (GLCs) and parliamentary institutions, he said.

He also said various initiatives have been identified to address issues related to public finances, including exploring new sources of sustainable revenue and minimising leakages.

"In achieving these initiatives, the government will prioritise on public expenditure review while ensuring debt sustainability and enhancing public spending efficiency in the long run.

"These measures will improve the nation's fiscal flexibility, allowing the government to implement counter-cyclical measures and maintain our economic resilience,” he said.

According to MoF, the fiscal deficit is expected to consolidate further to 5.0 per cent of GDP, to -RM93.94 billion from -RM99.48 billion in 2022.

Stellar 2022 Performance

Despite the softened global growth and escalating inflationary pressure, the Malaysian economy has performed better-than-expected in 2022, spearheaded by strong domestic demand and higher export performance in the aftermath of the COVID-19 pandemic.

Anwar said the country’s economic growth outperformed regional and global trends, rebounding to the pre-crisis level of 8.7 per cent, thanks to the swift policy responses and strong economic fundamentals.

MoF said in the report that growth in 2022 was anchored by the services sector, which grew by 10.9 per cent and contributed 58.2 per cent share to the GDP, mainly supported by the wholesale and retail trade, transportation and storage, as well as real estate and business services sub-sectors.

It said the manufacturing sector grew by 8.1 per cent with 24.2 per cent contribution to the GDP, while agriculture (0.1 per cent/6.6 per cent), mining (3.4 per cent/6.4 per cent), and construction (5.0 per cent/3.5 per cent).

The growth was also attributed to robust external demand, especially among Malaysia’s major trading partners, which resulted in a 27.8 per cent increment to RM2.848 trillion total trade last year. Similarly, the trade surplus expanded by 0.6 per cent to RM255.1 billion. - Bernama
 
 

Restoring confidence Largest one in M’sian history heralds overhaul of country’s finances

Prime Minister Datuk Seri Anwar Ibrahim has unveiled a Rm388bil Budget, the largest in Malaysian history, and one that is inclusive and holistic as well. His approach to dishing out goodies is novel, taking care of priority areas while also setting the country up for a financial overhaul.

Budget 2023 will be based on three thrusts, that is spurring the economy, reforming institutions to ensure investor confidence and ensuring social justice to balance inequality. Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim

PETALING JAYA: Budget 2023, unlike many earlier ones, is not one that is a continuation of promises laid out in larger umbrella plans like the Malaysia Plans.

Instead, it is a unique creation under Prime Minister Datuk Seri Anwar Ibrahim’s Malaysia Madani concept, which is a manifestation of the more inclusive approach promoted by the unity government.

The Rm388.1bil budget is the largest in Malaysian history, with Rm97bil being earmarked for development expenditure, also the highest allocation yet.

While the government has been drumming home a message about the mounting debts of the Federal Government, why did it propose such a huge spending Bill?

The answer lies in government taxes, which rose strongly last year to Rm294.4bil due to much stronger economic growth than forecast. With the economy clocking an 8.7% growth rate, tax collection will mirror the performance.

Still, there will be a relatively high deficit in the budget at 5% of GDP. This, however, will be less than an earlier estimate of 5.5%.

The plan is to bring it down to 3.2% by 2025. That debt reduction schedule is going in the right direction.

Higher tax revenues are only part of the cash-raising proposals. Asking the well-heeled populace to foot their fair share of tax revenue is a good step.

High-income earners are not going to make too much of a fuss about paying their fair share in raising government finances. It was also good that vape and e-liquids be subjected to tax.

It is a huge grey area that has flourished without government control. The best thing now is to tax such products as they are substitutes for cigarettes and basically perform the same function.

Then there is the tax on sale of shares in unlisted companies. This is basically a capital gains tax on unlisted companies that sell their business for a profit. This will also be an equitable approach.

It is not an inheritance tax, but just a case of the government taking a slice for enabling companies to sell their assets at a profit. Maybe it is a different approach from the prosperity tax (or windfall tax), but in an era of high indebtedness by countries and greater calls for progressive taxes, such a tax was inevitable.

The tax on luxury goods will have to be balanced against the need to maintain tourism receipts. Will this put off potential tourists given that Malaysia is one of the cheapest destinations for luxury goods? The devil will be in the details. Budget 2023 also reflects a different approach to addressing the issues of the past.

The usual ministries received an allocation bump and for good reason, but with a twist. Healthcare got a raise but there is acknowledgement that fixing the bottlenecks will use “the whole of nation” approach with spare beds and doctors from university and army hospitals, along with private hospitals, being utilised.

The move to tackle the problem of the hardcore poor is to be applauded. The call to alleviate the scourge of poverty within a year is formidable, but for Malaysia, which is on the cusp of high-income nation status, having 130,000 people on the wrong side of the poverty line is a shame.

Fixing the amenities at schools fast is also an urgent need, thus the increased allocation for the Education Ministry.

Defence too got higher allocations, as these are the basic foundations of any country.

The caring side of the budget was shown when it looked to help micro, small and medium enterprise sectors. These small companies employ a lot of people, and for them to get a tax deduction will go some way towards helping to shore up their finances.

The overall tone of Budget 2023 was appropriate.

It showed care and compassion for a large cross section of Malaysians. It is surely the start of an overhaul of the country’s finances as we head towards a national revitalisation over the next few years

By the Star Malaysia25 Feb 2023By JAGDEV SINGH SIDHU jagdev@thestar.com.my 

 

Highlights of Budget 2023/Belanjawan 2023


1. Bankrupts with debts of less than RM50,000 who fulfil certain requirements will be released from bankruptcy on March 1. This is expected to benefit 130,000 people.
2. The government will amend the Insolvency Act 1967 to release bankrupts automatically.
3. Bank Negara will allow consumers to freeze their accounts should they detect any suspicious activities.
4. RM10 million to support the National Scam Response Centre.
5. A special task force to reform government agencies, known as STAR, will be set up. It will be led by the chief secretary to the government.
6. Malaysian Road Records Information System (Marris) allocations increased to RM5.2 billion.
7. RM50 million to install lampposts in accident-prone areas.
8. Government will use district engineers to speed up the repairing of federal roads.
9. RM2.7 billion to repair and upgrade federal roads.
10. RM1.2 billion to repair 400 dilapidated clinics and 380 dilapidated schools.
11. The government plans to table amendments to the Whistleblowers Act to better protect whistleblowers.
12. The government plans to table the Government Procurement Act.
13. Government procurement must be transparent. RM22 billion worth of contracts linked to flood mitigation projects and the Jana Wibawa project were awarded via direct negotiation.
14. Private sector to establish a “Madani wakaf” involving assets worth more than RM1 billion.
15. The government will increase the availability of Islamic financing.
16. The government will also support the plans for the private sector to develop a port in Pulau Carey.
17. The government will support the development of the Sanglang port in Perlis.
18. Putrajaya to expand Subang and Penang airports to attract investments. This is more economical than the proposed construction of a RM7 billion airport in Kulim, says the prime minister.
19. The Tun Razak Exchange will become the country’s international financial hub.
20. Bank Pembangunan Malaysia Berhad to provide RM6 billion in strategic funding to encourage automation.
21. Tax incentives for aerospace industry will be extended to Dec 31, 2025.
22. Tax incentives for manufacturers to move operations to Malaysia will be extended to 2024.
23. The government will introduce a New Industry Master Plan 2030. This will include the restructuring of investment incentives.
24. The government will give incentives to local councils that make it easier for businesses to be set up.
25. Government proposes extending the Green Investment Tax Allowance (GITA) and Green Income Tax Exemption (GITE) incentives until Dec 31, 2025.
26. Bank Negara to provide RM2 billion in loans to support green technology startups and help SMEs embrace low-carbon practices.
27. RM50 million to increase the number of wildlife rangers to 1,500 people.
28. RM38 million allocated to protect endangered wildlife including tigers and elephants.
29. The government will increase allocations given to states to preserve forests from RM70 million a year to RM150 million a year.
30. RM50 million for the armed forces, fire and rescue department, and Rela to prepare for natural disasters.
31. RM150 million for Nadma to prepare for natural disasters.
32. Six flood mitigation projects will be re-tendered.
33. Anwar gave the example of flood mitigation projects. He said the government could have saved RM2 billion for the projects awarded by the previous government.
34. High impact projects must be awarded via tenders to ensure the government enjoys the best value and savings.
35. Bank Negara to provide nearly RM10 billion in loans for SMEs.
36. Government to waive driving test fees for taxi, bus, e-hailing and B2 motorcycle licenses.
37. Syarikat Jaminan Pembiayaan Perniagaan will provide RM20 billion in loans to SMEs in high value sectors.
38. RM1.7 billion in loan facilities under Bank Negara, BSN and TEKUN.
39. Government agencies to provide RM40 billion in loan facilities for MSMEs.
40. RM176 million to upgrade business premises and facilities under Mara, DBKL, PUNB and UDA.
41. RM50 million to build and upgrade 3,000 stalls and kiosks nationwide
42. Income tax for micro SMEs reduced from 17% to 15% for the first RM150,000.
43. The government will incentivise self declaration for income tax arrears beginning June 1.
44. Half of revenue from excise duties collected under the Generational Endgame (GEG) law will be channelled to the health ministry.
45. Putrajaya to introduce excise duties on vape and e-cigarette liquids containing nicotine.
46. The government will study the possibility of introducing a capital gains tax from 2024.
47. The government will introduce wealth tax. Luxury watches and goods will be taxed.
48. The government will maintain electricity subsidies for all domestic users and SMEs.
49. Lower income Amanah Saham Bumiputera (ASB) contributors will be given more dividends.
50. The government will table a Fiscal Responsibility Act in Parliament this year to ensure better management of the economy in the future.
51. Government aims to reduce fiscal deficit to 5% this year, compared to 5.6% in 2022.
52. Government aims to collect RM291.5 billion in revenue, a decrease compared to RM294.4 billion in 2022.

Budget 2023 highlights

Budget 2023; Highlights from updates on economic & fiscal outlook
and revenue estimates 2023

GDP to grow 4.5% in 2023 

 

PETALING JAYA: The Malaysian economy is projected to grow by 4.5% in 2023, even as the World Bank warned about the global economy being “perilously close” to falling into recession this year.

In the first section of the 2023 Economic Report, the Finance Ministry said all economic sectors are expected to remain in the positive growth trajectory in 2023, driven by the services and manufacturing sectors.

Other sectors, namely agriculture, mining and construction - which remained below pre-pandemic levels as of 2022 - are also expected to grow further in line with the improvement in economic activities.

“However, downside risks such as prolonged geopolitical conflict, climate-related disasters and persistently high inflation are expected to further hamper the global economic growth, hence, affecting Malaysia's performance.

Overall, the nation’s gross domestic product (GDP) is forecast to grow approximately 4.5% in 2023,” the ministry said.

Earlier this month, Bank Negara said the economy could grow by 4% to 5% this year. In 2022, the GDP expanded by 8.7% - the strongest growth since 2000.

The growth in 2023 would be mainly supported by steady domestic demand primarily private expenditure as well as initiatives under Budget 2023 and development expenditure under the 12th Malaysia Plan 2021-2025.

“However, a slowdown in external demand is expected to moderate exports growth, particularly in the electrical and electronic products and major commodities,” the Finance Ministry said.

The ministry projects the local services sector’s GDP to expand by 5.3% in 2023, down from a growth of 10.9% last year.

Manufacturing growth was forecast at 3.9% this year, as compared to 8.1% in 2022.

It is noteworthy that last year’s strong growth rate was largely attributed to the low-base effect as the economy was still impacted by Covid-19-related restrictions in 2021.

The mining sector is also forecast to record a slower growth next year by 1.2%, as compared to 3.4% in 2022.

However, the agriculture and construction sectors are projected to witness stronger growth rates, at 1.1% and 6.1% respectively.

In 2022, the agriculture sector’s GDP grew by a mere 0.1% and the construction sector expanded by 5%.

Commenting on the global growth, the Finance Ministry said the world economy is expected to further soften in 2023 at 2.9%.

The global economy would be weighed down by persistent pressures such as inflation, tightening global financial conditions and economic deceleration among major economies. 

 Source link

Budget 2023: An inspiring budget for all - New Straits Times

 

 Related post:

Malaysian Budget 2023 RM372.3bil from last year’s RM332.1bil

(Original)