PM says subsidy cuts and BR1M to stay
MalaysiaKini.com
Oct 9, 2014

Malaysians should brace for more subsidy cuts in the future, as the government is committed to reduce its fiscal bill.

In a statement on the eve of the Budget 2015 speech, Prime Minister Najib Abdul Razak said that this is as subsidies at the current levels are "unsustainable".

However, he said the Bantuan Rakyat 1Malaysia welfare aid will continue to be part of policy.

"It is part of our subsidy rationalisation. By switching from blanket subsidies to more targeted support, we are getting better value for money," he said.

Najib, who is also finance minister, will unveil Budget 2015 at the Dewan Rakyat at 4pm tomorrow.

He said that cutting subsidies will also help the government reduce its deficit.

This is with the aim of meeting its target of 3.5 percent this year and three percent in 2015.

What it right, not what is popular

To do so, he said, the government must not cave in top popular demand.

"It is wrong to pass the burden of debt to the next generation. We must pass on a stronger economy with less debt.

"We must do what is right for Malaysia’s economy, not what is popular. By doing so, we will ensure long term prosperity for the people," he said.

Even so, he assured that Budget 2015 will be "pro-rakyat" and will include measures to ease cost of living, enhance job opportunities, improve education and affordable housing.

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