Harapan's budget fails Accounting 101, says minister
Communication and Multimedia Minister Salleh Said Keruak is the latest BN leader to give the thumbs down for Pakatan Harapan's alternative budget for 2018.
He said the opposition coalition had perhaps publicised its budget early with the hope of “stealing the storm” from the official Budget 2018, which would be tabled by Prime Minister Najib Abdul Razak in Parliament at 3.30pm this afternoon.
“However, the alternative budget is unrealistic, ignores fundamental economics and accounting principles,” he added in a blog posting...
Communication and Multimedia Minister Salleh Said Keruak is the latest BN leader to give the thumbs down for Pakatan Harapan's alternative budget for 2018.
He said the opposition coalition had perhaps publicised its budget early with the hope of “stealing the storm” from the official Budget 2018, which would be tabled by Prime Minister Najib Abdul Razak in Parliament at 3.30pm this afternoon.
“However, the alternative budget is unrealistic, ignores fundamental economics and accounting principles,” he added in a blog posting.
Salleh pointed out that the basic rule of accounting dictated that one's income must match or exceed the expenditure.
“You cannot cut the income and at the same time increase the expenditure and still remain profitable.
“You cannot spend more than what you get. Countries in Europe and even the UK itself are facing a huge deficit because their budgets did precisely what Harapan is proposing.
“Have they not learned anything from the European experience?” he asked.
According to Salleh, the alternative budget is nothing more than wishful thinking on the part of the opposition coalition.
“Harapan knows they will never need to deliver it, except if they come to power. Harapan is playing around with the hopes and dreams of people, and this impractical budget is further proof of that.
“For a group of parties offering itself as the alternative, it is disappointing to see such irresponsible politics. Harapan should stop playing games and come down to reality,” he added.
Among others, the alternative budget promises to eradicate the Goods and Services Tax (GST) and revert back to the Sales and Services Tax (SST).
It also proposed to slash the allocation for the Prime Minister's Department.
Yesterday, Najib branded the alternative budget as populist and claimed that Harapan's fiscal plan lacked substance.
“The opposition budget is not based on facts and figures, and will create a big hole in government finances,” he said.
Opposition leaders, however, defended their budget, arguing that eliminating leakages and corruption would boost federal revenue.
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