Syed Saddiq: Budget 2024 Will Squeeze Those In Middle Income Group

As we all know, Budget 2024 was tabled by Prime Minister Dato’ Seri Anwar Ibrahim 0n 13 October at the parliament.

In response to that, Muar MP, Syed Saddiq Abdul Rahman, who is also the president of the political party MUDA, has said that the budget will squeeze those who are in the middle-income class (M40) which is where a majority of the Malaysians are.

He backed up his claims by stating these 4 elements: reduced subsidies, raised taxes, continuous wastage, and forgotten promises.

The Muar MP brought up how he thinks that the increase in Sales and Services Tax (SST) from 6% to 8% is just Goods and Services Tax (GST) in disguise. He gives an example.

“If a Malaysian makes 20 transactions in a day, each transaction will have a 2% increase.”

He elaborated that it is not a small amount as it will show up when we buy our household items such as toiletries, sanitary pads, clothing, school equipment and so on.

Even though SST is excluded from the F&B sector, restaurant operators still need to buy equipment to run their businesses.

“When the restaurant owners’ cost increase, they will transfer these costs to the consumers — that’s us.”

The MUDA president further explained why he thinks that the increase in SST is just GST in disguise.

“Why I say that it’s because the government — who previously were the Opposition — refused to implement the GST, and when they don’t want GST they increase the SST.”

If you would like to watch the full press conference at the parliamentary building, you can do so here.

What are your thoughts on this? Let us know in the comments.

Also read: Budget 2024: Targeted Electric Subsidies to Continue, RM40/month Bill Rebate for Over 142k Poor Households