BN Pledges To Reduce Deficit, No Tax Hikes

najib:don't get too excited pak lah






KUALA LUMPUR, Feb 25 (Bernama) -- Barisan Nasional (BN) pledged in its manifesto released today to reduce the budget deficit further to have more funds for development, without increasing taxes.
The coalition of 14 component parties assured that it will also follow through on the five economic development corridors encompassing the whole country to bring equitable growth, investment and job opportunities to all parts of Malaysia.
The manifesto by the coalition, themed "Security, Peace, Prosperity," was launched by BN and Umno president Datuk Seri Abdullah Badawi, who is also the Prime Minister.
In his speech, he said the budget deficit was reduced from 5 pct in 2003 to 3.2 pct of the gross domestic product (GDP) last year.
Under the progress report card, BN said the GDP had grew by 18 percent from RM427 billion to RM504 billion with all sectors showing growth, including new areas such as modern agriculture, biotechnology and Islamic financial services.
The coalition said since 2004, about 1.3 million job opportunities were created, while since 2005 more than 204,000 small and medium entrepreneurs were nurtured, with RM107 billion worth of loans disbursed.
Over the next five years, BN plans to generate at least two million quality job opportunities and nurture and assist one million entrepreneurs.
Abdullah also said the BN government will continue to cushion the effects of rising prices and ensure quality living standards for the people.
"BN spent RM43.4 billion last year in subsidies to reduce the burden of the people," the Prime Minister pointed out.
In stressing that the government always conducts itself well in all matters, he said that this also extends to managing the nation's finance.

tunku : suddenly i feel like hearing to a budget speech.anyway if the government promised no tax hikes that is a very good promise but at the same time DON'T INCREASE THE PETROL PRICE.