SUPP Stakan chairman: Continue cash assistance for B40, reduce income tax for M40 in Budget 2030 retabling

Dato Sim Kiang Chiok

KUCHING, Feb 16: Continue the cash assistance for B40 and reduce income tax for M40 as proposed by the previous government in the retabling of Budget 2030, says Sarawak United Peoples’ Party (SUPP) Stakan branch chairman Dato Sim Kiang Chiok.

Sim opined that the proposed government guarantee for bank loans, housing credit guarantee, including providing a small loan by Bank Simpanan Nasional (BSN), reduction of stamp duties of RM500,000 to RM1 million for houses, and RM10 stamp duty for houses transferred between family members should also be carried forward to help improve the economy.

“This includes the unapproved proposal of 2 per cent reduction of income tax from RM50,000 to RM100,000 bracket which will help about 1 million tax payers,” he said in a statement today.

Sim emphasised that control of inflation and bank interest hike must also be monitored carefully to prevent the shrinking economic recovery and growth by raising bank interest rates.

He added, job creation must always be maintained to ensure unemployment rates are low.

Meanwhile, he also echoed Cuepacs’s view to revert the lending guidelines back to a longer tenure of 35 years instead of 25 years for housing loans, and to extend personal loan tenures to 25 years from 10 years to assist lenders.

“This would also help to increase disposable income while reducing the bankruptcies in our country,” he opined. — DayakDaily