AS Prime Minister Datuk Seri Anwar Ibrahim recently emphasised, in 2024 the unity government is interested in three things – the economy, the economy, and the economy!
This is because in the coming year, the administration will be rolling out its plan to end the blanket subsidies on fuel and electricity that benefit mostly the rich folk and large corporations.
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Instead, the subsidies, which could amount to at least RM81bil this year, would now be channelled to low-income households, petty traders and fisherfolk, the Prime Minister has repeatedly stressed.
While realigning how it spends taxpayers’ funds, the government also wants to raise household incomes via a new wage policy that would be tested in the middle of next year.
Together with a handful of new taxes and increases on existing ones, these measures are some of the ways the administration wants to restructure the economy.
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