GST, Subsidy Rationalisation For More Development – Najib
KUALA LUMPUR, Nov 29 – Prime Minister Datuk Seri Najib Tun Razak said implementation of the Goods and Services Tax (GST) and subsidy rationalisation is to enable more development to be carried out and not intended to burden the people.
He said revenue obtained from GST and the reduced expenditure for subsidy could be spent for rural development, improve the quality of the country’s education, build houses, increase the skills of the Malays and other development plans.
“Allocation for rural areas has to be given priority, (allocation) for education we have to increase further. Why is the income of the Malays low, it is because most of them are SPM (Sijil Pelajaran Malaysia) holders, we have to provide them with upskilling training,” said the Umno president during the winding up session at the 2014 Umno general assembly today.
He said Majlis Amanah Raya (Mara), as an institution which symbolised the Malays and bumiputera, should also be given additional allocation so that more Malays could be given scholarship by the agency. Najib, who is also Finance Minister, said GST, which had been adopted by more than 160 countries, was fairer as it could prevent traders from avoiding to pay tax.
“They get service from the government for free. It is not fair, they should pay tax because they should also bear the expenses for the people,” he added. On complaints of the country’s economic growth not being felt by the people, Najib said economic growth meant increase in the country’s revenue and enabled the government to cover administration cost.
Najib also touched on Malay reserve land where he said there were problems in terms of the law, to enable access to Islamic financial instruments to develop the land. “A committee had already been set up and its report had been prepared. I want all laws that needed to be amended to be carried out so that the Malay reserve land can be developed into a valuable asset for the owner,” he added.
To increase the marketability of Malay graduates, the prime minister announced a 100 per cent increase in the number of participants for the 1Malaysia Training Scheme. Since the scheme was launched in 2011, it has helped secured jobs for 42,000 unemployed graduates.
You may be interested
1,200 Marketers Converge On Hong Kong’s Inaugural MarketingPulsePocket News - March 22, 2018
HONG KONG, Mar 22 - MarketingPulse, Asia's premier conference and rendez-vous for marketers and brands, launched with a debut edition…
Govt To Continue With GST Due To Its Proven EfficiencyPocket News - March 22, 2018
PUTRAJAYA, Mar 22 - The Barisan Nasional government will stick to the goods and services tax (GST) since the tax system…
OTT Summit – Day 1: Addressing The “Perfect Storm”Pocket News - March 22, 2018
SINGAPORE, Mar 22 - Asian video industry association, Casbaa, held its annual OTT Summit, Asia's OTT industry marquee event, on…