PETALING JAYA: Prime Minister Datuk Seri Anwar Ibrahim referenced a Chinese proverb and an idiom while speaking about targeted subsidies tabling the Budget 2025.
He cited the proverb "guo er bu gai, shi wei guo yi" by Confucius, along with the idiom "yi cuo zai cuo", underscoring the importance of not repeating the mistakes.
"If you make a mistake and do not correct it, this is a true mistake.
"This fatal mistake, according to Confucius, is what has led us into the vicious cycle of yi cuo zai cuo, which means repeating the same failures over and over again," he said, drawing applause from the august House.
He noted that the government needs to boldly target subsidies so that they are no longer spent in bulk.
"This step has resulted in meaningful savings that can be allocated for other interests," he said.
Anwar, who is also Finance Minister, said the government had doled out RM80bil in subsidies last year, which was also enjoyed by both the rich and foreigners.
He said while revenue had increased, the subsidy expenditure is among the highest the Asian region.
"To address this conundrum, the revenue base must be expanded. Our tax collection rate is among the lowest at 12.6% GDP compared to Thailand (16.1%), Philippines (14.1%) dan Singapore (13.7%)," he said.
