Stimulus package should exceed RM50b: Guan Eng

GEORGE TOWN : Chief Minister Lim Guan Eng says the economic stimulus package should be at least RM50 billion in tandem with similar packages by other nations in the region.
"The package must be a minimum US$14 billion (RM50 billion) to allow the people to benefit from the money directly," he said today.
Lim said the current stimulus package worth RM7 billion was paltry compared to what other nations were preparing to spend.
He noted that Indonesia was preparing a stimulus package worth RM228 billion, Singapore RM27 billion and Vietnam RM22 billion, while the US had announced a package of RM5.6 trillion.
"We hope the government can also implement infrastructure projects during this period," he told a press conference in his office here.
Lim called on the federal government to prepare a substantial allocation for retrenched workers to receive unemployment benefits.
He noted that the Manpower Department had reportedly said that some 100,000 people are expected to be retrenched by April.
He proposed that each worker who loses his job because of the economic crisis be given RM800 monthly. He estimated that the government would need to allocate less than RM1 billion for 100,000 affected workers.
"This is better than spending RM5 billion of government money to save companies in Bursa Malaysia," he said.
"If the government is willing to throw money in the stock market, why not help the workers?"
He described the government’s move to help the companies as "irresponsible and a failure to protect the interests of 27 million Malaysians".
Asked if Penang was allocating any money for affected workers, Lim said: "We don’t have enough money in the state. We are asking this allocation for all Malaysians. The situation can hit everyone now. It is very worrying."
Penang had announced earlier this year a RM10 million allocation to retrain retrenched workers.

tunku : it is easy to talk when you don't have to do anything but talk to be popular. From where the government will get the fund (RM50 billion)? I think the government should not spend more than RM35 billion for the stimulus package.RM50 billion will make our deficit difficult to manage later. again it's easy for guan eng to say that the government should pay RM800 to each retrenched workers. is he going to do so in penang?no, because not enough fund, and what he thinks of federal government, they have lots of fund? federal government too had set allocation for retrench workers to undergo courses etc which is free and they are given some allowance.
it will be good for guan eng to show what he can do rather than just talking and talking without any action.