Helping the poors, doing more on education and most important healthcare is always i believe is the no 1 thing to be solved in Malaysia. But if i were to suggest. I believe most important is always to create a system that responsible before pouring money into it. So far, we have been always using money to hope for solving problem but always forgot that you need a good culture and system for a complete revamp.
Another example is like building mid cost house from RM 100,000 to RM 400,000. In fact, if we look at Singapore, Hong Kong and Shanghai. All these systems does not work and Hong Kong property prices are back to or above pre 1997 crisis level.
My example will be –
1st A cheaper interest rate for housing between RM 100,000 to RM 500,00. (1st home only at may be even 1%)
2nd Increase property gain tax for people who own more then 3 properties to 20% within 5 years.
3rd Increase stamp duty on property value above RM 1 Mil to subsidies to lower interest rate of point 1.
4th Financing for 4th property purchase only have max 50% margin financing.
5th Extra 1% stamp duty more for property value above RM 1 Mil if purchase with cash
Reasons are simple, may be i am wrong of above but main objective is how to assist in affordability at the same time do not hurt property developer that bring GDP contribution, government incomes and even a little from the rich that sure will profit due to their wealthy position.
Lets not worry about the bank as they will always trying every angle to achieve a min 10% loan grow. Dont believe me? Just ask yourself how many calls you got last 6 months that bank wants to offer you cash as personal loan? A situation long never seen since 1997 but back recent years.
Overall, i give it a pass but not outstanding. Retail will gain some strength due to the government bonuses. Personal income tax of savings up to RM 400 plus is nothing for today increasing cost of living.