(ANN/THE STAR) – Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim has indicated that Budget 2025 will focus on assisting those genuinely in need, while cutting back subsidies for the ultra-wealthy, including in areas like education.
“We will ensure the allocation is distributed fairly and leakages are addressed. Currently, high subsidies are being enjoyed by the children of the ultra-rich attending secondary science schools, and we need to stop this,” Anwar, who is also the Finance Minister, said during his speech at the National Symposium to End Poverty 2024 at the Putrajaya International Convention Centre (PICC) on Monday (September 30).
“I mention this as an early indication ahead of the Budget announcement next month,” he added.
Anwar emphasized the importance of being equitable, especially for vulnerable groups. “We must focus on those truly in need, such as children with autism, who deserve our attention and support.”
Acknowledging that the move could be unpopular, the Prime Minister stressed that it was a necessary step for the country’s progress.
He also highlighted the need to end subsidies for the ultra-rich and foreign workers, directing resources toward Malaysians in need. “These foreign workers don’t pay taxes and send their earnings back to their home countries, yet we have provided them with subsidies, including electricity subsidies, for many years.”
Anwar underscored the importance of a comprehensive approach to generating revenue and ensuring fair distribution.
The upcoming Budget 2025, the third under the Unity Government, will be tabled in Parliament on October 18.
