Wisdom Wise

Budget 2016

Ben Gan
Publish date: Sat, 24 Oct 2015, 08:11 AM
Ben Gan
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Budget 2016

Sadly lacking in this budget is that nothing is done to mitigate corruption, cronyism and the abuse of power which are the causes that bring hardship to the people of a nation. 

No plan is also put in place to restore the value of our depreciating ringgit, and nothing much is done to improve our security and to promote tourism.  

Building cheap and affordable houses for the low-income and middle-income group is a good move. As housing has a big multiplier effect, many industries will benefit. Those companies involve in cement, iron, bricks, sand and other building materials will benefit. Consumables such as household utensils, electrical, wood-based and plastic products will also be in demand as new homes require all these necessities.

The lowering of corporate tax by 1% is good for the stock market. This will probably be reflected on Monday when Bursa starts trading. 

Construction companies and those involve in food production will probably see some improvement in their prices. The former will have much to do as transportation and other infrastructure activities come on line. The latter will benefit form tax incentives.

Sabahans and Sarawakians will benefit much from this budget as many goodies are in place for them. 

Overall, this budget is not doing anything to bring about the prosperity of the nation. 



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