MPs: Set recovery measures, address national debt

KUALA LUMPUR: Ahead of the tabling of the revised Budget 2023, MPs across the political divide stressed the importance of prioritising measures to ensure economic recovery while addressing the country’s debt.

Subang MP Wong Chen is hoping for an indicative roadmap on how the government will manage the national debt, which stands at RM1.5 trillion as at January.

“It should include a targeted subsidy scheme and an aggressive campaign to curb wastage and corruption,” he said.

Wong also said development expenditure should be set at a reasonable level, and government projects should be awarded via open tender with transparent terms and realistic economic multipliers.

Keen for change: (From left) Wong hopes to see an indicative roadmap on how the government will manage the national debt while Rayer calls for the RM1mil development allocation to be increased. Siti Mastura says she hopes the government will introduce an all-encompassing budget.

“There should also be incentives for industries where Malaysia has a comparative advantage, such as palm oil, rubber and timber, to encourage greater downstream activities,” Wong told The Star.

Tenggara MP Manndzri Nasib said the budget must be comprehensive and forward-thinking to ensure Malaysians weather the looming economic storm.

He said it is crucial that the RM1mil development allocation for MPs be increased.

“MPs are the rakyat’s agents and they understand the needs of their local communities, particularly the B40 group and the youths,” he said.

Selayang MP William Leong said economic recovery and addressing the rising cost of living should be the top priorities in Budget 2023.

“I hope to see more development funds increased for more targeted rural projects with direct cash transfers to farmers, fishermen and agriculture activities by removing the middlemen or third party suppliers for more effective distribution,” he said.

Jelutong MP RSN Rayer agreed that the RM1mil development allocation is insufficient for his constituency.

“Hospitals, schools and police stations are basically in need of infrastructure improvements. I have cases of teachers seeing me and asking for money to upkeep their school compounds,” said Rayer.

Kepala Batas MP Siti Mastura Mohamad of Perikatan Nasional hopes that the budget would be comprehensive and meet all the needs of the people, especially those in the Middle 40 group.

“Particularly, there should be a comprehensive plan for the M40 group as it is often left behind, yet is not as financially capable as the Top 20 group,” she said.

Bachok MP Mohd Syahir Che Sulaiman of Perikatan Nasional hopes that fiscal discipline, in terms of increasing revenues, debt management and prioritising high-impact spending, could be prioritised so that the country could get the most value for each ringgit spent.Julau MP Datuk Larry Sng said Budget 2023 should not be an “austerity budget”, as a drastic reduction in government spending will dampen the economy and hurt the B40 and M40 groups the most.

“The government should incentivise small and medium enterprises to grow the economy, develop clean energy and prioritise local companies in government projects,” said Sng.