Budget 2016 Speech By DAP Secretary-General And MP For Bagan Lim Guan Eng In Parliament On 26.10.2015
GST the cause of the economic downturn and the RM42 Billion 1MDB as well as the RM2.6 billion donation scandal the cause of the depreciation in the Ringgit. By not abolishing GST, reduce petrol price, freeze toll hike and outline concrete measures to restore the value of the ringgit, the 2016 Budget will not overcome Malaysia’s economic crisis nor improve the living standards of the rakyat. The Federal government has admitted that the GST saved the government from bankruptcy and even of not having enough money to pay civil servants, caused by reduced revenue following low global commodity and petroleum prices.
GST helped the Federal government to collect an expected sum of RM39 billion next year, which would be a net extra amount of RM21 billion collected, after taking into account revenue lost following the abolition of sales and services tax to make way of GST. It is this extra RM21 billion collected from 30 million Malaysians, not from rich crony companies in petroleum or toll companies, that has saved the government.
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