Its RM204 billion Budget is based on pre-Goods and Services Tax (GST) revenue, derived from various existing taxes and royalties.
According to their Budget, the Opposition pact would tighten operating expenses, most notably by reducing the allocations to the PM’s Department by RM10 billion, from the current RM20.31 billion.
This would be reduced in subsequent years until the department was allocated only RM5 billion annually.
It would also implement “relatively cheap” anti-corruption management practices and this, together with reduced operating expenses, would see 20 per cent savings across the board.
“We will channel these savings towards national development, especially in the poorest states.
“By adopting prudent fiscal governance, we expect to narrow the debt-to-gross domestic product (GDP) ratio.”
Beyond the fiscal projections, Pakatan also detailed 11 policy proposals as part of its Alternative Budget.
“We base our policies on universal social-justice principles, as espoused by Maqasid-As-Syariah (Objective of Islamic Law), to realise just and equitable development for all,” it said.
The 11 policies are:
1. Equal employment opportunities;
2. Increasing minimum wage to RM1,500;
3. Reducing reliance on foreign labour;
4. Greater transparency and accountability in fiscal reporting;
5. Adoption of anti-bribery management systems into government decision-making;
6. Pursuing equality between East and West Malaysia;
7. Cultivating the padi and rice industry;
8. Better use of the Universal Service Provision to reduce digital divide between urban and rural areas;
9. Promoting affordable and accessible urban public transport;
10. Public housing geared towards ownership; and,
11. Strengthening public healthcare.
“Our Alternative Budget is neither a magic ball nor a magic bullet.
“It is, however, proof that as a government-in-waiting, Pakatan Harapan has the economic prudence and political will to reform the rickety institutions that fail to support all Malaysians justly.”
On Friday, Prime Minister Najib Razak will table 2017 Budget.
The full document on PDF: