Budget 2021: Wishlist Recap

Budget is set to be tabled at 4pm and before we get to the long-awaited session, BusinessToday recaps the wishlists that have made it onto our site. With every party pushing for a more inclusive Budget this year, issues such unemployment, tax exemptions for businesses and digitalisation have been urged to be among focus areas.

Wishlists that you might have missed:

  1. BusinessToday looks into how the pandemic could affect the upcoming session, with insights from analysts from ISIS and IDEAS and Bank Islam’s Chief Economist. We chat about sectors that could possibly get a boost from the upcoming Budget. For more reading click here
  2. The Confederation of Malaysian Brewers (CMBB) is recommending for no increases in excise duties and sales tax for the upcoming tabling of Budget 2021, as such hikes are likely to be detrimental to Government’s revenue collections and further hamper business recovery.
  3. Following the healthcare crisis, BusinessToday speaks to business leaders and industry experts on what should considered by the government in the coming session. 
  4. Mah Sing shares their wishlist to Putrajaya on spurring more growth for the property segment. This includes reinstating maximum loan tenure to 45 years from current 35 years; higher debt service ratio; and using gross income rather than net income in loan applications review.
  5. BusinessToday’s maritime logistics expert and contributor, Nazery Khalid writes on items in the wishlist of different players in the vast logistics universe differ from one another, based on their business interests, wants, needs, competitive advantages, market landscapes, size of business, customers, regulatory environment, financial standing, strategies, aspiration and outlook, among many others.   
  6. Tan Ming Luk, Head – Malaysia and Singapore, OYO Hotels and Homes proposes to the Government to support the recovery of the tourism industry in a safe and sustainable manner, through a three-prong response plan combining monetary and non-monetary aid.
  7. According to PropertyGuru Malaysia, the Budget 2021 should focus on job creation and economic drivers, particularly for youth and first-time home seekers, while addressing specific developer concerns such as compliance costs.
  8. Ko Chuan Zhen, Co-founder & CEO, Plus Solar shares his six wishes on what could drive further adoption of clean energy with future allocations from the Budget 2021 .
  9. EY Tax Leaders highlights a three-phased approach to Budget 2021 and are expecting some immediate measures to increase the tax revenue of the country, including changes to existing tax provisions to broaden the tax base and tighten  gaps .
  10. MATTA is urging Putrajaya for sufficient funding for tourism businesses to invest in digitalisation and for the government to support local online platforms instead of relying on foreign platforms in the upcoming Budget 2021 session.
  11. Davis Chong Chun Shiong, Group CEO Solarvest Holdings Berhad urges for support for the RE industry to continue in Budget 2021 to enhance the uptake of solar PV installations across the residential homes, commercial and industrial as well as large-scale solar segment.
  12. Azlan Ahmad, Head of SSB Sales, Sage Asia is championing three strategic fiscal measures that can have lasting effects in helping SMEs and the nation as a whole, both recover and build resilience.
  13. Leon Foong, CEO of SOCAR Malaysia has several items on his wishlist propose to the Government to further support the recovery and growth of the mobility sector and gig economy

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