Anwar plans to cut education subsidies for ultra-rich kids in Budget 2025

PUTRAJAYA: The Budget 2025 will benefit those genuinely in need and cut subsidies for the “ultra rich”, including in education, hints Prime Minister Datuk Seri Anwar Ibrahim.

"We proceed by ensuring that the allocation will be distributed appropriately and to stop leakages. We also want to stop the high subsidy currently being enjoyed by the children of the ultra-rich attending science secondary schools.

"I’m saying this as an early indication before announcing the Budget next month," said Anwar, who is also the Finance Minister, in his speech at the National Symposium to End Poverty 2024 at Putrajaya International Convention Centre (PICC), on Monday (Sept 30).

"We must be truly fair to those in need, especially those vulnerable groups, children with autism for instance, that should be given the focus,” said Anwar.

The Prime Minister said the move would be unpopular but necessary for the country.

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He then pointed out that the government should stop giving subsidies to the ultrarich and foreigners and use the money to help the people and those in need instead.

"These foreigners do not pay taxes and what they earn will be sent back to their home countries. But we still give them subsidies, including electricity subsidies, for many many years," he added.

"So, we have to look at the issue more comprehensively. How do we get revenues and at the same time how do we distribute it," he said.

Budget 2025, the third under the Unity Government, will be tabled in Parliament on Oct 18.