Sunday, October 17, 2010

REACTION TO THE BUDGET 2011

Among the benefits are:

> For first time house buyers, the government will provide a guarantee of 10% down payment for houses below RM220,000 through Cagamas Sdn Bhd, allowing them to take a 100% housing loan.

> Youths will also benefit from the formation of Talent Corp, 1Malaysia Training Programme and The Academic Medical Centre.

> The exemption of import duty and sales tax on broadband equipments and mobile phones until 2012, to increase broadband penetration is welcmoed.

The RM119 million allocation for Multimedia Development Corridor programmes to create an innovative digital economy is also lauded. It is hoped that the funds will be used wisely, supported by homegrown knowledge workers who are also local graduates.

Other positive elements include RM5 billion for development in Sabah and Sarawak and the freeze on toll hikes for PLUS expressways for the next five years. It is hoped that this move will also be extended to other expressway concessionaires.

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