Budget 2024 should help middle-income earners help themselves by freeing up time and space for them to make more money through secondary incomes without relying too much on the government.
As Budget 2024 approaches, it is important to remember that all income groups have been squeezed by higher inflation and cost of living as well as sluggish wage growth which combined have reduced our purchasing power.
So the M40 will be hit hard if petrol subsidies are removed too quickly. The government must ensure that targeted, transitional help is provided as the much-needed subsidy rationalisation reforms are introduced. Good tax incentives on secondary incomes will also help middle-income groups. Above all the key is to provide wider universal opportunities to increase incomes rather than extend limited cash payments, projects or welfare programmes.
As eating out has become more expensive it takes up more of their disposable income and so the cost of living becomes more of a burden. Eating out has become less of a luxury or recreational activity and more of a cost of working due to long working hours. It affects everyone who works because it increases the cost of working for individuals.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Orang Asli seek housing subsidies, land solutions in 2024 budgetCommunity also urges Putrajaya to consider cash aid or monthly food vouchers to help it deal with the rising cost of living.
Read more »
MIPFM: Review electricity tariffs for strata residences in upcoming Budget 2024KUALA LUMPUR: The Malaysian Institute of Property and Facility Managers (MIPFM) is hoping that the government will review the electricity tariff for s...
Read more »
Budget 2024: Tax institute sees no tax cuts for individuals, corporatesKUALA LUMPUR, Oct 8 — The Chartered Tax Institute of Malaysia (CTIM) does not expect tax cuts for individuals or corporates, but more details on the luxury goods tax (LGT) and...
Read more »
Budget 2024: Glove makers seek GSA revision, lower natural gas cost, export cess removalKUALA LUMPUR, Oct 8 — A simplified gas supply agreement, natural gas supply at reduced cost and the removal of a 0.2 per cent export cess — these items are high on the...
Read more »
Budget 2024: Tax institute sees no tax cuts for individuals, corporatesKUALA LUMPUR, Oct 8 — The Chartered Tax Institute of Malaysia (CTIM) does not expect tax cuts for individuals or corporates, but more details on the luxury goods tax (LGT) and...
Read more »
Dewan Rakyat sitting starting tomorrow to focus on Budget 2024KUALA LUMPUR, Oct 8 — The tabling of the 2024 Budget will be the highlight of the third meeting of the second term of the 15th Parliament when the Dewan Rakyat session begins...
Read more »