RM67B stimulus package - What's in it for us?

There you have it. Our Deputy Prime Minister Datuk Seri Najib Tun Razak has just tabled a RM60B "mini budget". Well, this package is not mini by itself (accounting to more than 9% of Malaysia's GDP and almost a third of 2009 budget). It's 8 times bigger than the first RM7B stimulus package aimed at helping Malaysia to weather the world economic crisis, the worst economic contraction since the 1930's.

With addition of the stimulus pacakge, Malaysia's GDP gowth is expected to be between -1% to 1%. (doesn't sound good at all, even at best case scenario). So what does all this means to people like us? Well, if I understand corrently (and I highlight the important bits)............

• No increase in necessities food prices like sugar, flour and bread in two years
• No increase in toll in two years
• Tax relief of up to RM10,000 on interest paid on housing loan for three years
• Repair and mantainence of public ammenities to make our living conditoon better and improve the tourist spots
• Government will issue saving bonds to all citizens aged 21 and above, with a minimum investment of RM1,000 and a maximum of RM50,000
• Job training and placement for the unemployed and setup of more job centers. Government will also hire more people to work in various government positions
• To reduce retrenched worker's burden and their increase disposable incomes, the Government proposes that the existing tax exemption of RM6,000 given on retrenchment benefits be increased to RM10,000 for each completed year of service
• Bosses who hire retrenched worker will get double tax benefits up tp RM10,000 deduction per month
• The Government will undertake to finance tuition fees and research grants of up to RM20,000 for every student pursuing a PhD locally and RM10,000 for Masters to encourage self development in higher studies
• Reduced dependence on foreign workers in certain sectors
• A discount of RM5,000 given to car owners, who trade in their cars, must beat least 10 years old, for buying new Proton or Perodua cars. The Government will continue to finance part of the discount
• And added funding for rural development to provide better electricity and water facilities

Read the full speech of DPM DS Najib Tun Razak and what's more in the "mini" budget, click HERE (The Star)

Now, we as good citizens must ensure that 100% of the money is put into good use and not fuel corruption.....