2015 Budget proposals to address spiralling costs

THE 9.5% to 10% hike in petrol and diesel prices from last Thursday would compound the anticipated cost escalation caused by the Goods and Services Tax (GST) to be introduced on April 1.

While wealthy individuals and large corporations have the resilience to embrace the challenges brought on by rising costs, the lower and middle income group and the small and medium enterprises (SMEs) may not withstand the headwinds.