Budget 2014 is bad news for business and consumers in Sabah

Monday, 28 October 2013

By Victor Ma

KOTA KINABALU - There’s no good news for Sabah in the 2014 Budget and in fact, it is bad news for businesses and consumers in Sabah, said Datuk Yong Teck Lee (photo), president of Sabah Progressive Party (SAPP).

The former chief minister of Sabah also opined that the “good news” for Sabah is way below the expectations generated by the Prime Minister during his visit to Sabah last week.

“The budget for the Kimanis gas project, the Sipitang SAMUR (Ammonia Urea Project) and the Lahad Datu regasification project are all recycled news. Even the Sandakan airport upgrading was first announced in 2010. There is no good news for Sabah in the budget. This is the price that Sabahans and other Malaysians pay for voting this BN government,” he said.

Yong said the people will suffer from the inevitable rise in prices of food and beverage caused by the hike in sugar prices.

Sugar prices had gone up four times before today; with 20 sen per kilo in January 2010, 25 sen in July 2010, another 20 sen in December 2010 and 20 sen in May 2011.

“Compounded by rising fuel prices and the sudden hike of 34 sen in sugar prices, the much dreaded GST will send the prices of goods and services into another round of spiralling inflation. This will hurt the economy, weaken the Ringgit and dampen consumer demand,” he said.

Yong also claimed that the reason behind the decision to impose the Goods and Services Tax (GST) at such a high rate of 6% and the rise in fuel and sugar prices is because the government is close to bankruptcy.

“The government is turning businesses into tax collection agents for the government via the GST. In fact, the only commodity that is keeping the federal government afloat is the oil and gas from Sabah and Sarawak,” he said.



Post a Comment

Important - The views expressed and the links provided on our comment pages are the personal views of individual contributors and do not necessarily reflect the views of Sabah Report.