October 8, 2011
www.malaysiakini.com
Netto upon Najib's 2012 Santa Clausian Budget: Xmas is early this year
by Terence Netto (10-08-11)
COMMENT: A distinguished Pakatan Rakyat leader who enjoys a attribute with Prime Minister
Najib Razak which allows for amiable chaff called upon a PM upon a first day of a new Adilfitri celebrations.
Nattily ready to go in his Bersih-yellow shirt, a Pakatan notable, after charity festive greetings, dispensed with preliminaries as well as went straight to a point.
"This year or subsequent year?" he chortled.
"What good will it do for me to wait," dead-panned a Prime Minister.
Yesterday's 2012 Budget which a PM as Finance Minister unveiled is substantially a most transparently electioneering budget ever tabled in Parliament. It did not only sport a sign which 'Polls have been near'; it came flat out as well as pronounced 'These something good to eat have been meant get me your vote.'
It would be genuine to expect which a annual matter of how a incumbent monetary minister wants to procure income as well as how he intends to pay for it would be exempt from politics as well as unconditionally debasing to a imperatives of advantageous bookkeeping.
But to proffer a single which is as nakedly vote-enticing as Najib's 2012 Budget is an abandonment of fiduciary duty.
Going bankrupt? Never heard of it
It is as if a murky prognostications of Pemandu chief Idris Jala (right) which stream levels of
income as well as output would have us swamped in red ink by 2019 were unheard.
And it is as if a liquid bullion which gushes from next as well as off a coasts contributing up to 60 percent of income for a annual budget is set to last for a prolonged time instead of depleting in a couple of years.
There have been essentially two schools of suspicion upon a monetary crisis now besetting a United States as well as tools of Europe. One binds which a plague was brought upon by a poisonous decoction of subprime mortgages as well as runaway speculation in monetary derivatives, aided as well as abetted by marketplace fundamentalism upon a part of regulators.
The other is which even if undiscerning exuberance had not characterised a dabbling in new monetary products, a ever-enlarging entitlements which some democracies ladle out to their adults would in a destiny describe their governments insolvent.
Fortunately, Malaysia had not ascended to a levels of monetary lack of simplicity which would have done it susceptible to a bank failures which assailed a economies of a US as well as other tools of a West in late 2008, recovery from which is proving elusive. But in permitting a size of a public sector to grow as well as in treating with a polite use as a opinion catchment area, Malaysia is careening into paths which pave a approach to a sclerosis which presently assails Greece.
Najibspeak
With a bloated polite use of 1.3 million (for a race of 28 million) as well as counting, with both government as well as a opposition treating them as dedicated cows which cannot be put out to pasture, a desert enligh! tenment which warps fiscal formulation in some western democracies is headed for trespass in Malaysia.
Combined with UMNO-BN's partiality to a plutocratic few, a Malaysian domestic economy is set to become, more markedly than ever underneath a Najib Razak administration, crony capitalistic during a top as well as a present welfare state during a middle, during least.
Presumably, those during a bottom of a economic totem stick would be left to try out Marie Antoinette's recommendation "Let them eat cake" to a inspired rank as well as file upon a eve of a French Revolution.
That Najib is means to furnish his erstwhile nostrums in a mantle of reformist labels Government Transformation Programme, Economic Transformation Programme, etc, only attests a prescience of George Orwell's warning of multiform decades ago about how denunciation corrupts suspicion as well as clamp versa.
A public which is not beguiled by these lone labels would not be left in ignorance about a destiny costs of Najib's stream munificence where over RM20.5 billion is to go for debt-servicing, up 60 percent over a grant in a prior year.
Rather it would be determined to absolved a nation of governance which conceives of a role as responding to exigency expediently, as securing support by pay-offs.
In other words, it is a government which is for a survival as priority, for a people as afterthought, as well as for a destiny as amnesia.
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