Saturday, October 16, 2010

Chua: A Budget designed to sustain economic growth

MCA president Datuk Seri Dr Chua Soi Lek has described the Budget as a good one that will sustain economic growth for many years to come.

He, however, noted the impact of a slowdown among Malaysia’s major trading partners, including the United States, the European Union and Japan.

“This will affect us badly if they are actually facing a recession,” he said after attending the SJK(C) Pui Teh Teachers Day celebration here yesterday.

Dr Chua, in welcoming the setting up of the Wage Council to implement a minimum wage, said it was timely as a depressed wage system would not augur well for the country’s competitiveness.

Nevertheless, it was disappointing that issues on foreign workers were not addressed, he said.

Dr Chua said the goods and services tax (GST) ought to be implemented in order to widen the revenue base.

He said there was also the need to rationalise subsidies, particularly for oil, gas and electricity.

On Chinese education, Dr Chua said the RM250mil allocation in development expenditure for religious, Chinese, Tamil, mission and government-assisted schools was less than expected.

“We (MCA) are disappointed as we were thinking of about RM150mil a year (for Chinese schools alone).”

Regarding the 100-storey 1Merdeka building, Dr Chua said details were yet to be made available.

“Hopefully, it will not become a white elephant,’’ he added.

THE STAR (Saturday October 16, 2010)

1 comment:

I swear said...

Dr Chua,

Are you sick? I have a feeling you are because you failed to see how a lousy budget it is.

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