Measures to ease M40 burden among Budget 2027 priorities

The Prime Minister of Malaysia, Datuk Seri Anwar Ibrahim, has indicated that measures to alleviate the financial burden on the middle-income group (M40) are among the key priorities for the upcoming Budget 2027. Speaking at a Budget engagement session, Anwar emphasized that the M40 remains a central focus of the Madani administration, with various relief measures implemented since 2023.

Prior to the Budget, the Finance Ministry highlighted the M40 as a central focus, with a range of initiatives launched to provide relief, including a reduction in individual income tax rates for residents earning between RM35,000 and RM100,000. Other initiatives benefiting the M40 include RM150 in Early Schooling Aid, two rounds of RM100 Sara for All payments, and tax relief for early childhood education and learning disabilities.

The government has also expanded insurance and takaful coverage for children and provided stamp duty exemptions for first-time homebuyers. Looking ahead to Budget 2027, the government aims to cushion living costs, expand social safety nets, bolster economic competitiveness, and improve fiscal sustainability, while assessing cost-of-living pressures across various sectors. The 2027 Supply Bill is expected to be tabled in Parliament on October 9.

Brief written by urgent.news from New Straits Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.