Consumers’ expectations of Budget 2021

CONSUMERS and workers are facing severe disruptions in their lives during this Covid-19 crisis. The Federation of Malaysian Consumers Associations (Fomca) hopes that Budget 2021 will address the three key issues of income, increasing costs of living, and consumer empowerment.

The most serious issue consumers face as workers is unemployment and reduction in income. According to the Social Security Organisation, 90,000 workers have lost their jobs since the crisis began. Another study indicates that 200,000 workers in the informal sector – such as contract workers, maids and hawkers – may fall into poverty due to loss of or reduction in income. A study by a think tank indicates that more than two million may lose their jobs eventually.