Bankers: Balanced budget focused on long-term fiscal sustainability

Maybank group president and chief executive officer (CEO) Khairussaleh Ramli said socio-economic uplifting measures for the poor and low-income groups, tax cuts for middle-income group, empowering micro, small and medium enterprises (MSMEs), promoting investment and tourism are ingredients for a balanced Budget 2023.

“There are also redistributive and progressive tax proposals such as increases in the tax rate of higher-income groups, luxury goods tax, capital gains tax on disposal of unlisted shares and excise duties on vape products, coupled with strengthening governance and effectiveness of public spending,” he said in a statement...