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FORMER Finance Minister Lim Guan Eng praised Budget 2027 as the most reform-minded fiscal policy in memory, but said there is still room for improvement, especially in allocations for non-Malays.
Expanding the welfare safety net to needy groups, including gig economy workers, the disabled and senior citizens; more inclusive allocation of funds and adjusting the personal tax rate to correct past injustices are right steps forward, stressed the Bagan MP.
But the DAP adviser said that there is much more to do, particularly allocations for non-Bumiputeras.
Lim is seeking just 10 per cent of total Bumiputera allocations (without reducing a single cent of Bumiputera allocations) to ensure a fair, equitable and rightful allocation of taxpayers' money.
"Such a group was neglected and ignored by previous governments," said Lim.
These initial steps of budgetary reforms give hope that there will be more future substantial meaningful reforms in the pipeline that will contain the rise in living costs.
These reforms can create sustainable economic growth, especially for micro, small, and medium enterprises (MSMEs) and generate prosperity by ensuring that there is more money to spend for Malaysian households.
Lim had earlier also sought the Inland Revenue Board (LHDN) to expedite the rebates of excess taxes to the working class, particularly the MSMEs.
His approach is to inject more cash into the domestic consumption market to drive healthier cash flows and boost domestic demand due to the signs of a poor global economy. - October 10, 2026.
