The NEM is geared towards a high-income economy and this is a move in the right direction and Malaysians are awaiting the government's initiatives in achieving this. The depression of wages in Malaysia for the last 30 years has further widened the gap between the rich and the poor and caused uneven distribution of wealth.

Consequently, the middle and lower-income group were compromised on healthcare, education and their quality of family life and are surviving on borrowed income to sustain a decent living. These choices are detrimental to the quality of life and will eventually result in social ills in the society.

That being so, the intended abolishment of subsidies through gradual reduction will actually impose a financial catastrophe on millions of Malaysian workers. It is the duty of the government to at all costs to ensure Malaysian workers move towards a higher income.

Employers can no longer hide behind ‘productivity’. Output in the country has been steady and sustaining in the last 10 years. This is further supported by our country's strengthening GDP growth. Productivity translated into profits in Malaysia is evident with the emergence of new proclaimed millionaires and billionaires in the corresponding year.

Whilst we congratulate them for their hard work, it is their social responsibility to ensure  that the middle and lower income workers in their establishments benefit from a fair distribution of the wealth in comparison to their top management instead of continuing in the trend of top management getting a bigger share of the profit cake while the masses struggle to share the minimum share.

This gap between the rich and poor must be bridged immediately as the government has played a significant role for these establishments to succeed. In return, these establishments must ensure the success of the government's high income economy.

If this is achieved, Nube members will surely  support the government's gradual reduction in subsidies to reduce the governments debts. Currently, Nube is unable to give its support as the 30,000 workers in the banking sector are lowly-paid with increasing debts even though they have given their best performance as the profits of the banks in the last 10 years are very evident.

The writer is general-secretary, National Union of Bank Employees (Nube).