EDGE WEEKLY: Budget 2024: Towards fiscal reforms

The Edge TV

Instead of cutting the petrol subsidy, the government raised the service tax and removed the diesel subsidy in Budget 2024. A luxury goods tax and capital gains tax were also introduced. Is this a prelude to more fiscal reforms in the mid-term?

Transcript

00:00 [Music]

00:04 Many had anticipated that Budget 2024 would entail some form of targeted petrol subsidy,

00:10 but that was not announced last Friday.

00:12 Instead, the government raised the service tax and chose to start with a rationalisation of diesel prices in stages.

00:19 A luxury goods tax and capital gains tax were also introduced.

00:23 Is this a prelude to more fiscal reforms in the midterm?

00:27 In certain countries, rapid urbanisation has placed immense pressure on infrastructure and housing developments in Malaysia.

00:34 Digitalisation plays a crucial role in helping the construction sector meet growing demand.

00:40 Industry players talk about the obstacles they face.

00:43 In options, it has been exactly 12 months since the triumphant reopening of London's Battersea Power Station.

00:50 Its trio of key stakeholders talk about the year that was

00:53 and what else can be expected of the iconic project in the near future.

00:58 Finally, in our ESG pullout, for some sectors, it is more difficult to decarbonise

01:03 because of technology constraints and prohibitive costs.

01:07 However, two Malaysian companies in the metal manufacturing business are forging ahead

01:12 to seize opportunities in the low-carbon economy.

01:16 Details are this week's edition of The Edge.

01:18 Save by subscribing to us for your print and/or digital copy.

01:22 The Edge is also available on Apple's App Store and Android's Google Play.

01:26 [Music]

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