THE country’s largest-ever Budget, at RM322.5 billion, has been tabled. It is no coincidence that the unprecedented proposed mega spending comes at one of the most critical junctures in Malaysia’s history.
The Covid-19 pandemic, and the trail of economic turmoil it left behind, has necessitated fiscal and monetary interventions unlike any we have seen before, whether in quantum or approach.
In healthcare alone, a whopping RM31.9 billion has been allocated. This will go towards buying some of the most critical items in the fight against the virus, whether personal protective equipment for frontliners or test kits, to name a couple.
As for cash aid for the B40 group, some 8.1 million Malaysians stand to benefit from the RM6.5 billion allocated under the Bantuan Prihatin Rakyat (BPR) programme. This is up from the 4.3 million beneficiaries under Bantuan Sara Hidup, the predecessor to BPR.
In terms of job creation, the Human Resources Ministry has allocated RM4.134 billion as social safety net, skills training and recruitment incentives. With the unemployment rate climbing, these measures are set to provide relief to tens, if not hundreds, of thousands of people fired or retrenched due to the pandemic.
The list of people-centric initiatives under Budget 2021 goes on and on. From jobs and healthcare to welfare, women and entrepreneurship development, just about everyone gains from it, whether directly or indirectly through spillover effects.
Be that as it may, it is not given that the Budget will enjoy a smooth passage through the legislature. Already, there are threats to vote down the bill unless amendments are made, such as redirecting the proposed RM85.5 million allocation for the Special Affairs Department (Jasa) to other more critical agencies.
Regardless of whether tweaks are made in the bill before it is put forward to a vote, here are some of the things that would happen if Budget 2021 fails to be passed:
* Federal civil servants will not be paid salaries come January, including many of the frontliners battling Covid-19;
* The various cash aid allocated to the B40 and M40 groups will be withheld, robbing them of an economic lifeline during these hard times;
* Vulnerable groups, such as the handicapped and single mothers, will be deprived of promised aid;
* Retraining and reskilling programmes to help Malaysians who have lost their jobs will be put on hold;
* The cabinet will need to resign;
* A snap general election may be held, significantly elevating the risk of Covid-19 transmission, going by the Sabah polls experience;
* Capital flight, as jittery investors, including foreign fund managers, look for more politically stable markets; and,
* The stock market will nosedive, exacerbating an already weary economy.
Are the above necessary, especially at a time when we need to rally around efforts to put the country’s economy back on track?
Do we really want to see the intended beneficiaries being deprived of economic and social lifelines? Are we so heartless as to let politics cloud our morality?
A lot of the grouses on social media on Budget 2021 surrounds the allocation for Jasa. Of the RM322.5 billion total Budget allocation, the RM85.5 million set aside for the department is only 0.026%. How would you feel if you were fired because of a 0.026% deficiency in your KPI?
By all means, tweak the Budget before it is put forward to a vote, because that is what the legislature is for. However, there is really no need to cut our nose to spite our face just because we fail to see the big picture in what the most critical Budget in recent times entails. – The Vibes, November 13, 2020
Julian Chua
Klang, Selangor
