Budget 2014 Expectations

The announcement of whats to come for Budget 2014 is drawing near and there are many expectations for the Government to cater to.

Budget 2014 will be announced this Friday, October 25 2013 and as we count down the hours to the announcement, many are already posting their expectations for the budget. Since August this year, the Prime Minister has been requesting for public feedback via the #Bajet2014 campaign.

The expectations have been the same. The people of Malaysia would like Budget 2014 to focus on policies that will help both the lower and middle-class groups. A young married couple of 25 and 27 have been searching for a suitable house for over a year but current real estate prices are beyond their planned budget. A homemaker hopes the Government will work together with Bank Negara to come up with realistic financial policies for young wage earners to buy their first properties, as it's still difficult to obtain a loan. A Technical marketing engineer said he would like for the lowering of income taxes to counter the current cost of living.

But for CIMB Group Holdings Bhd group chief executive Datuk Seri Nazir Razak, Budget 2014 should emphasize on rejuvenating the health of the country's fiscal condition. It is vital for the Government to get the budget right, stressing that the health of the Government's financial position would determine the country's sovereign rating.

Budget 2014 is going to be the most challenging budget so far in terms of Government spend management and introducing new initiatives to increase Government revenues, he said.

Because of this, he believes that Malaysians should not hope for additional incentives or handouts in the upcoming budget. He said now is the time for financial institutions as well as the people to give priority to the government's agenda in managing the budget deficit.

So who's expectations will be fulfilled for Budget 2014? We can only wait patiently for the day it will be announced, and we can all only hope that Budget 2014 will see us through the storm and towards the rainbow.

*Picture courtesy of freemalaysiatoday.com


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