Speaking in the Dewan Rakyat, Yamani said the ministry welcomed the proposals by several MPs to boost the government’s coffers, especially to replenish the funds spent on various aid packages.

“The government is looking at several measures to increase revenue, including taxing capital gains on shares and also imposing a one-off higher tax rate on companies that obtained extraordinary profits amid the pandemic.

“The additional revenue from these taxes would be used by the government to fund recovery programmes and activities for selected target groups,” he said during his winding-up speech on the King’s address.

He also took note of several MPs’ views on imposing a windfall tax on businesses that had boomed amid the pandemic, but maintained that the government needed to get the views of stakeholders first.

“The government must consider the views and get feedback from various stakeholders on the effects of this special tax, so that it does not affect Malaysia’s economic position and competitiveness, especially in attracting foreign investment.”

Yamani also said that of the various aid packages said to amount to RM530 billion, there was only RM91.8 billion in direct fiscal injection from the government.

On calls for an interest-free loan moratorium for borrowers, Yamani said Putrajaya was still in discussions with financial institutions because it involved a commercial decision between banks, their directors and shareholders.

“The ministry wants a workable and proportionate solution taking into account the long-term effects on borrowers, depositors, investors, financial institutions and the economy.”