Budget 2012

Budget 2012 was out yesterday. To me, there is no surprises and yet it's a disappointment. The budget gives out a lot of money in 2012 but it does not solve the problem. By just giving the fish to the people instead of teaching way to fish, that's only a short term solution and not long term solution. After going through the budget, I can only see a few items which are relevant to us.

- In the spirit of “People First,” all subsidies, incentives and assistance totalling RM33.2bil will be continued

- For those in private sector earning RM5000 and below, employers' EPF contribution will increase from 12% to 13%

- My First Home Scheme will be expanded to increase the limit of house prices from a maximum of RM220,000 to RM400,000

For more information, you can refer to

http://thestar.com.my/news/story.asp?file=/2011/10/7/nation/20111007162147&sec=nation