KUALA LUMPUR, 27 Oct 2017:
Apart from continuing to invest in infrastructure and national development programmes, plus the usual allocations for enhancing jobs and livelihoods, there were few surprises in the Budget 2018 speech by Prime Minister Datuk Seri Najib Razak today.
- MRT3 or Circle Line would be completed by 2025, earlier than the initial target of 2027
- Plan for construction of a bridge connecting Labuan with mainland Sabah
- East Coast Rail Link between Port Klang and Pengkalan Kubor, Kelantan – aiming for 4-hour travel for passengers and cargo
- Pulau Pangkor declared a duty-free island – but not for alcoholic beverages, tobacco and motor vehicles
- Toll collection is to be abolished at four places from January 2018 – Najib said toll collection would be discontinued at Batu Tiga and Sungai Rasau in Selangor, Bukit Kayu Hitam in Kedah and at the Eastern Dispersal Link in Johor
- Penang and Langkawi international airports are to be upgraded, construction of a new airport in Mukah as well as expansion of the Kota Bharu and Sandakan airports
- 14 new sports complexes costing RM112 million to be built nationwide
- Individual income tax rate cut by two percentage points for income tax band RM20,000-RM70,000
- Minimum pension raised to RM1,000 per month
- Employers can soon hire foreign domestic helpers directly from nine selected countries
- Every Malaysian baby born between 1 Jan 2018 and 2022 will be provided with an Initial Savings Fund of RM200 through the PNB Unit Trust Scheme to be named Amanah Dana Anak Malaysia or ADAM50