Budget 2023 is committed to looking after everyone's interests

TABLED on Oct 7, Budget 2023 which delivered plenty of good news, indicates that Putrajaya is committed to taking care of people from all walks of life in a comprehensive manner. This includes the welfare of the M40, youths and e-sports athletes.

The 2% reduction in income tax reflects a government that is empathetic towards the M40 whereby assistance has been increased to those in need.

These include raising the assistance for single-parent families to RM3,000 while aid for families with a household income of RM5,000 and under has likewise been increased.

At a time of severe economic challenges, this important help from the government is timely.

In the spirit of Keluarga Malaysia, RM1bil has been allocated to the existing Keluarga Malaysia hardcore poverty eradication programme (BMTKM) beginning next year, to help the destitute come out of poverty through entrepreneurship, agriculture, and electronic technology.

It is better to teach a man to fish than to give him fish.

Only by improving the competitiveness amongst Malaysians may our country's development go further.

Additionally, Putrajaya has resumed aid for paddy farmers where RM228mil has been allocated benefiting 240,000 beneficiaries.

This will increase rice yields and quality and further strengthen our nation’s rice supply.

RM256mil funding has been allocated as aid during the monsoon season whereby 320,000 small-time farmers will each receive RM800 to help them overcome difficulties arising from poor harvest due to the torrential rains.

One of the highlights is that the Digital AgTech agricultural technology promoted by MDEC provides electronic training for farmers.

This includes big data analysis, the Internet of Things and artificial intelligence technologies to assist farmers in transformation so that Malaysia’s agriculture will modernise at a sustainable development pace.

Electronics and technology are major trends that cannot be ignored in the world.

We should also step up our pace to improve the quality and yield of crops, ensure Malaysia's food security at a time when the global supply chain is unstable, and export to foreign countries to increase national income.

I welcome the establishment of a National Scam Response Centre by the government in light of the growing prevalence of online fraud and the increasingly advanced technologies used to scam.

The pledge to strengthen cyber security surveillance will ensure that network security not only protects the personal data security of the general public but also encourages more confidence among foreign investors in our country's business environment and makes our country more attractive as a destination for investments.

In support of youth and sports development, the government has allocated RM154mil in comprehensive development of the Malaysian sports ecosystem.

For young adults, new ways and opportunities have been opened up to unearth and develop their talents, so that they can steer towards a career as full-time sports athletes.

Not only that, as many e-sports players in Malaysia have achieved excellent results in the international stage, the government has also announced an allocation of RM13mil to develop the domestic esports industry.

In general, the measures in Budget 2023 not only focus on reducing the economic burden of people, but will also boost their disposable income, increase their purchasing power, and inject more funds into the market.

WONG SIEW MUN

MCA Spokesperson