Being a post-election budget, Budget 2023 prioritises issues such as the cost of living, promoting investment, education, and skills.
Several key agendas under Budget 2023 would likely be based on Pakatan Harapan’s shadow budget, which revolved mostly around policies meant to safeguard the country’s recovery from the effects of the Covid-19 pandemic, with coalition leaders hinting at an expansionary budget based on the 2023 budget strategy document.
Placing institutional reforms and taming inflation would be the focus with special emphasis on reforming the business environment, reducing government involvement and making it easier to do business with less regulatory restrictions. This requires a full review, not just ad hoc issues around the goods and services tax or GST because international tax changes such as the Global Minimum Tax will begin to have an effect soon.
Existing student loans and training funding should be reviewed to replace the National Higher Education Fund Corp or PTPTN and the Human Resources Development Fund with a new sustainable funding system. Both the Pakatan and Barisan Nasional manifestos were pointing in the same direction on this issue and it would be a good unity policy.
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