2027 Budget offers hope for meaningful reforms

GEORGE TOWN: The 2027 Budget offers hope for meaningful reforms, with measures to strengthen social protection, promote inclusivity and address past tax injustices, former finance minister Lim Guan Eng said.

Lim, who is also DAP adviser, described it as the most reform-minded budget presented by Prime Minister Datuk Seri Anwar Ibrahim so far.

He welcomed the expansion of the social safety net to include vulnerable groups such as gig economy workers, persons with disabilities (PwDs) and senior citizens.

He also commended efforts to make fund allocations more inclusive and adjust personal tax rates to address what he described as past injustices.

However, he said more needed to be done to ensure a fairer distribution of public funds, particularly for non-Bumiputera communities.

"This is to ensure fair, equitable and rightful allocation of taxpayers' money to non-Bumiputera communities, who have been neglected and ignored by previous governments," he said in a Facebook post.

Lim said the initial steps towards budgetary reform offered hope for more substantial and meaningful changes.

"Future reforms should focus on containing cost-of-living increases, fostering sustainable economic growth, particularly for micro, small and medium enterprises (MSMEs), and generating greater prosperity for all Malaysians.

"Putting more money in the hands of Malaysian households should remain a key objective to help people cope with rising living costs and support broader economic well-being," he added.

Prime Minister Datuk Seri Anwar Ibrahim tabled the 2027 Budget yesterday.

The budget focused on strengthening household support, expanding education and healthcare funding, improving wages and social protection, and accelerating infrastructure and economic development, while supporting Bumiputera businesses and regional growth.