BFM Podcast
Income Inequality in Malaysia
Dr Lee Hwok Aun, Senior Lecturer, Department of Development Studies, Universiti Malaya
13-Nov-14 16:44
A joint study by Khazanah Research Institute and Universiti Malaya found that wealth is increasingly concentrated in the already affluent. This despite official government figures pointing out that inequality in gross household income has been declining. How did the study come to this conclusion? We find out with the study’s co-author Dr. Lee Hwok Aun, senior lecturer in the Department of Development Studies at Universiti Malaya.
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Sources of income inequality easily obtained from income tax department (HDN) and EPF.
Different categories needed to make meaningful comparison:-
1. Wage earner
2. Self employed like hawker
3. Businessman
Household income carry less accurate picture compare with individual income. Reasons:-
1. Single (male/female) staying separately from parents
2. Young couples both are working
3. Working children staying with parents
You see, one person working it is definitely earn less than two working.
Moreover, household income changes when new family member start working or retire.
Today the household income could be 200k.
If one child start working tomorrow and adds 50k, Household income then is 250k.
If one retire, household income becomes 100k.
2014-11-14 10:09