KUALA LUMPUR: The Pakatan Harapan Alternative 2018 Budget was described as a repetition of the same old promises that falls short of substance.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the latest fails to provide clear and consistent plan on how the promises will be financed.
He urged Malaysians not to be deceived by the populist and unsustainable measures outlined in the Alternative Budget revealed by Pakatan Harapan and PKR president Datuk Seri Dr Wan Azizah Wan Ismail in Parliament.
“This Alternative Budget is a repetition of the same old promises - abolition of GST and tolls, as well as free higher education among other things,” he said in a statement.
Mustapa pointed out the abolition of GST will leave a big hole in the government revenue that needs to be filled up.
“Instead of sharing with us their plans to compensate this drop in revenue, they are only relying on the questionable assumption that a tax cut will result in higher consumption and tax collection.”
He said such were the political rhetoric used by the opposition to mask their failure in coming up with a credible economic agenda.
“For a political coalition that keeps on spreading their unsubstantiated claims that Malaysia is heading towards bankruptcy under the BN government, they are actually the ones driving the country into that direction with their fiscal irresponsibility.
“The budget to be unveiled by the Prime Minister on Friday will be a sound and responsible economic plan needed to elevate our status to a high income economy, in contrast to what the opposition has to offer.
“An economic agenda will only be credible if the planned expenditures are backed with necessary revenue-generating measures. I appeal to the objectivity of the Malaysian public not to be deceived by the populist and unsustainable measures outlined in the Alternative Budget.”