GEORGE TOWN: The sudden increase in assessment tax in the state will set off a multiplier effect on many things, which will in turn hike living costs, says Tanjung MCA division chairman Loke Poh Chye.
He explained that when assessment tax increases, the people would be burdened with a sudden increase in living costs.
"Many businesses and families in Penang are renting units and houses.
"An increase in assessment tax will definitely lead to an increase in rentals and the price of goods and services.
“Businesses would want to hike prices to cover expenses, and house owners would do the same for rentals to maintain their profits,” he said during a press conference at the Gold Coast Restaurant Saturday (Sept 28).
During the press conference, more than 200 residents in Lebuh Macallum were also present, holding banners which read "Listen To The People" and "Retract The Announcement".
Loke said prior to deciding the hike, the Penang state government should have first consulted the people.
“Even if they wanted to hike taxes, they should have first gotten the opinion of the people, and not make sudden announcements.
“A proper survey should first be carried out. But now, the people’s hopes are for taxes to be retained or lowered.
“We hope there will not be a hike in the assessment tax,” he added.
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