Hoped-for Budget increases

THE honourable Prime Minister will soon be announcing Budget 2018. Those from the lower and middle income groups are waiting for it with high expectations that there would be measures to help ease the cost of living pressure.

Without doubt, the introduction of the goods and services tax (GST) back in April 2015 coupled with subsidy rationalisation efforts and the weakening of our ringgit have contributed towards spiralling the cost of living, the impact of which is being felt by consumers today. Inflation rose to 4.1% in the first half of this year and may rise even further if the value of the ringgit continues to decline. Meanwhile, food prices rose 4.2% in the 12-month period ending July 2017.