Wall Street

ADUN SPEAKS | GST is wrong cure for our economic woes

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Malaysiakini (English)

ADUN SPEAKS | I am stunned that both current Prime Minister Ismail Sabri Yaakob and convicted former prime minister Najib Abdul Razak are bringing back the idea of introducing the goods and services tax (GST) for Malaysia. The regressive tax proposal has been pushed by neo-liberal economists and Treasury officials as early as the 1990s. When oil and commodity prices slumped drastically from October 2014 for an extended period into 2016, Najib followed some ill-advised neo-liberal ideas to cut budgetary outlays in 2015 and 2016 at a time when the economy was badly hit, and introduced the GST on…

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