Measures against the rich will please the poor but not hugely boost government coffers. Read more at straitstimes.com.
KUALA LUMPUR – There’s a story going around that Malaysian Prime Minister Anwar Ibrahim eschews wearing a necktie because he adheres to the view that it’s a symbol of subjugation to the wealthy aristocratic class.
But the tax rate was increased for another 150,000 people – about 1 per cent of the labour force – who earn a taxable income upwards of about RM20,000 monthly. According to Universiti Malaya Centre for Democracy and Elections sociopolitics lecturer Awang Azman Awang Pawi, “the premier has sought to be seen as pro-lower and middle classes since he first got involved in activism and politics”.
Some observers were reminded of the English legend of Robin Hood, an outlaw who stole from – and scorned – the rich to give to the poor. “Social justice will be the main narrative thrust, where Anwar will target the better off to convince the wider public that his government will ensure the pain is shared.”
Higher prices hit everyone, and with inflation expected to continue at an elevated level – within range of 2022’s 3.3 per cent instead of the decade’s average of below 2 per cent – the measures against the rich will please the poor but hardly result in any belt-tightening for the well-off.
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