KUALA LUMPUR: Under the ‘Rakyat’s Economy’ thrust of the Barisan Nasional manifesto, Barisan Nasional aims to generate more income for the people to boost their economic spending power.
Among the efforts include raising the minimum wage in phases to RM1,500 from the current RM1,000, aside from reducing the maximum limit on interest rates and late payment charges for credit cards.
To ensure the price of daily necessities can be reduced, BN plans to amend the Price Control and Anti-Profiteering Act so that action can be taken against traders who make excessive profits.
BN also plans to minimise the involvement of middlemen in agricultural and fishery products aside from transforming the agriculture sector into a high-income industry.
Students too will benefit from the introduction of special student discount cards which would help them reduce the cost of transportation, government services and education-related necessities.
Armed forces veterans will receive an annual RM600 special assistance. At the same time, the government would implement the Veterans Annuity Scheme to assist armed forces personnel where they would receive monthly payments upon retirement.
FAST FACTS
• Establishing a Fair Works Commission so that the salary levels of private sector workers are more equitable
• Intensifying Felda 2.0 initiative via 15 plans for 2018 and 2019 with RM300 million allocation
• Writing-off Felda settlers’ debt from the purchase of FGV shares
• Increasing the Monsoon Season Aid for rubber smallholders
• Introducing multi-tiered dividend and bonus rates for government-linked investment funds and unit trust funds (e.g: PNB, Tabung Haji, LTAT)
• Special assistance scheme worth RM222 million for Felcra, Kesedar and Ketengah settlers
• Revising individual and corporate income tax rates
• Building 20 fish markets nationwide
• RM3 million allocation for the Arts Practitioners Welfare Fund every five years
• Providing a RM5 million grant every five years to heritage bodies activists
• Establishing a RM10 million welfare fund to assist cultural groups and creative industries
• Strengthening the socio-economic status of the Indian community