KUALA LUMPUR, Oct 9 (Bernama) -- Budget 2027, tabled by Prime Minister Datuk Seri Anwar Ibrahim today, reflects the government’s commitment to addressing the concerns of the people, including the middle-income (M40) group.
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the measures announced in the budget were expected to ease the financial burden of M40 households facing pressure from high expenditure commitments.
“So far, in terms of income surplus and purchasing power, they (the M40 group) have been under considerable pressure due to their high commitments,” he told reporters after the tabling of Budget 2027 in the Dewan Rakyat.
Earlier, Anwar announced that the individual tax relief limit would be increased to RM12,000 from RM9,000, which had remained unchanged since 2010, benefiting the M40 group.
Ahmad Zahid also welcomed the increase in the minimum wage to RM2,000, effective June 2027, with micro, small and medium enterprises (MSMEs) with annual sales below RM50 million exempted from the new rate to allow them time to adjust their business models.
“The same goes for graduates and skilled workers, who will be offered premium wages. In my view, this is a change that will be warmly welcomed by graduates and those with skills qualifications,” he said.
Ahmad Zahid, who is also Rural and Regional Development Minister, said the budget as a whole also focused on increasing national exports, which depended in part on the development of micro, small and medium enterprises (MSMEs) and strengthening the capabilities of local entrepreneurs.
He said this would be aligned with his responsibilities as chairman of the Cabinet Committee on Entrepreneurship Development to intensify efforts to produce more competitive entrepreneurs.
On the allocation for the Rural and Regional Development Ministry (KKDW), Ahmad Zahid expressed his appreciation to the Prime Minister for allocating RM12.68 billion to the ministry for next year, an increase of RM281.08 million or 2.27 per cent from RM12.40 billion this year.
He said existing programmes and high-impact initiatives would be prioritised, including those benefiting the Orang Asli community.
On Technical and Vocational Education and Training (TVET), he said the allocation would help strengthen efforts to produce highly skilled workers who meet industry needs.
“Through the TVET Council, we will focus on high-level TVET and robotics, which offer job opportunities. We will also introduce more relevant courses to improve graduates’ employability,” he said.
He added that rural infrastructure development and the halal industry would also receive attention next year.
-- BERNAMA