BUDGET SPEECH PDF

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Budget Speech of. Piyush Goyal. Minister of Finance. February 1, Madam Speaker,. I rise to present the Interim Budget for the year Home; Budget Speech. Budget Speech by Hon'ble Finance Minister. Budget Speech in PDF Format PDF File Opens in a new window · Budget Speech in Word. Budget Speech. 3. Madam Speaker. Mr President. Mr Deputy President. Cabinet Colleagues. Governor of the South African Reserve.


Budget Speech Pdf

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Source: authors own construction using Budget Speeches. 2. Social Protection: Scaling up continues. The Social Protection budget has decreased. BUDGET SPEECH. By Honourable O.K. Matambo. Minister of Finance and Economic Development. Delivered to the National Assembly. The Budget Speech of the Government of Ghana for the. Financial Year. Presented to Parliament on. Thursday, 15th November By. Ken Ofori-Atta.

This year, we will reinvest these savings back into the program. This investment will offer people who use the program a range of new treatment options. We all recognize that improved health outcomes start with healthier, more active lifestyles. This free mobile app rewards users for living healthier, active lives and so far we have seen over 36, residents use the app and earn loyalty reward points for healthy living.

A multi-year approach for community grant funding will be announced in the coming weeks. It is a responsibility that we take very seriously.

Newfoundland and Labrador is known for its culture of hard working individuals. For some people, however, injuries in the workplace have negatively impacted their livelihoods. Together, with WorkplaceNL, our government is committed to maintaining a sustainable workplace injury system for workers and employers. That is why, beginning April 1, we are increasing the income replacement rate for injured workers from 80 to 85 per cent.

The higher income replacement rate will improve benefits to injured workers and dependent spouses, without increasing the average assessment rate charged to employers. Speaker, we believe that safe, stable and affordable housing is fundamental to the social and economic well-being of individuals, families and our communities.

Our government is working closely with our community partners to help improve access to affordable housing and make it easier for first-time home downloaders to enter the market. In partnership with the Federal Government, we anticipate building new housing units, as well as upgrade some of our existing social housing units to reflect the present day family size and needs of seniors.

The focus will be on providing additional housing to those who need it and reducing wait lists for social housing. As I announced yesterday, along with the Minister responsible for Newfoundland and Labrador Housing, our government is making it easier for new home downloaders to download their first home.

These are innovative programs that will stimulate new home construction, economic activity and job creation. Our government is taking a strong stand against violence and harassment. Our amendments to the Family Violence Prevention Act reflect the value we place on further supporting adult victims of domestic violence and their children. As a community we need to work together to take action to end violence in all forms and break down the barriers victims face.

Their review included engagement with teachers, parents, students and stakeholders and led to recommendations that focus on inclusive education, student mental health and wellness, mathematics, reading, Indigenous education, multicultural education, early years, career and cooperative education and teacher education and professional development. Speaker, we appreciate some of the challenges parents can experience securing care for their children, as well as the cost that comes with it.

There is no disputing that child care is an essential support to parents participating in the workforce or pursuing workforce development opportunities. This supports early learning and child care options through subsidies, grants, bursaries, and professional learning opportunities. This agreement will help deliver early learning and child care systems that will improve the lives of children and their families.

It will help: Expand and enhance the Operating Grant Program to improve accessibility and affordability of child care for low and middle income families, and a new operating grant program for regulated family child care homes. Benefit Early Childhood Educators by providing increased bursaries and grants for upgrading qualifications and enhancing access to professional learning. In September , our government implemented full-day Kindergarten. Feedback from teachers and parents has generally been very positive.

In September , approximately 5, children will enroll in full-day Kindergarten and join the approximately 10, who have already benefited from our investment. Our government continues to provide operating grant funding for the Provincial Information and Library Resources Board. Memorial University and the College of the North Atlantic make valuable social and economic contributions to our province.

They are also highly-regarded among their peer institutions across Canada and around the globe. Our government continues to invest significantly in infrastructure at our public post-secondary institutions. Once constructed, these new facilities will help improve program delivery, increase capacity for research and lead to new opportunities to collaborate with industry. It has been 14 years since there has been a review of the public post-secondary system.

Over that time, there have been changes in our economy, in our demographics and changes at our post-secondary institutions.

Through the Independent Appointments Commission, government will appoint a committee of experts to undertake a system-wide review that will explore how our post-secondary education system compares to other jurisdictions, and to recommend options to achieve better outcomes in post-secondary education in a more cost-efficient manner.

Memorial University and the College of the North Atlantic will play key roles in this review. Government continues to provide funding to Women in Science and Engineering Newfoundland and Labrador to give female high school students real work experience in science and engineering careers they may consider in the future. The secretariat will lead important work on apprenticeship, labour market information, business supports, youth initiatives, and immigration.

This year, our government will continue to modernize and strengthen apprenticeship through more flexible delivery models. We will further build on our online capacity for skilled trades. We will also continue to collaborate with industry and community organizations to identify and create opportunities for women in trades and technology, providing annual funding to the Office to Advance Women Apprentices and the Newfoundland and Labrador Organization of Women Entrepreneurs.

In addition, through funding for the Newfoundland and Labrador Organization of Women Entrepreneurs, women receive assistance in creating jobs for themselves, and others, by starting a business. Newfoundland and Labrador continues to participate in the Atlantic Apprenticeship Harmonization Initiative which aligns the rules and standards for apprenticeships in Atlantic Canada. This year, it will be expanded to include six more trades and also engage stakeholders in the development of a new apprenticeship management system.

This work will be supported through the Atlantic Apprenticeship and Harmonization Office which will be located in St. Speaker, the Provincial and Federal Governments are finalizing agreements that will provide additional funding to support employment and training programs.

Through these agreements, our government will strive to increase participation in the local labour market for under-represented groups, including women, and assist them to achieve gainful employment. The program, which is supported by federal funding, will provide 25 youth with work experience in each of these targeted sectors for a total of jobs.

We have targeted these high-growth industries first through the work of our Cabinet Committee on Jobs. Newfoundland and Labrador has many great attributes that makes our province an attractive place. We will leverage these strengths as we implement the actions outlined in The Way Forward on Immigration in Newfoundland and Labrador.

Building for Our Future underscores our working relationship with municipalities to advance infrastructure, create safer, more sustainable communities and encourage economic development.

We are also working to assist municipalities to utilize funds for used fire vehicles where acceptable options are identified. This funding, along with the supporting cost-shared ratios, encourage a focus on opportunities for regionalization of services. Our government is proud to continue the presumptive cancer coverage benefit that career and volunteer firefighters now receive.

Through Budget , we are also continuing to support communities and help residents build a greener, more energy efficient province. In collaboration with Newfoundland Power and Newfoundland and Labrador Hydro, we will continue to implement the Energy Efficiency Loan Program, which provides low-interest loans for energy efficiency home upgrades. Over the last two years, Newfoundlanders and Labradorians have continued to see the impacts of climate change first-hand. We have experienced significant weather events in the western, central and southern regions of the island and in Labrador.

We are consulting with the Federal Government to recover eligible expenses associated with the damages. We will continue work to ensure residents are supported in their time of need. Flood risk mapping enables us to know possible outcomes in case water levels begin to rise and to assist emergency management partners in responding. This work is in addition to the recently announced water and ice monitoring on the Churchill River, and community-based monitoring program that is focused on mitigating and responding to potential flooding events in the future.

We are continuing to strengthen the justice system in Newfoundland and Labrador. Our government is committed to improving access to justice and increasing transparency and accountability in law enforcement. We believe that justice must be inclusive and secure full public confidence. It is crucial that residents of our province have faith in the administration of justice.

The new location will help improve accessibility to services at the court. This funding will supplement the ongoing work related to the design and construction of a new facility. A new penitentiary will foster security, health and safety and operational efficiency, as well as support Adult Corrections in the development and implementation of policies and programs that will allow inmates an opportunity to become productive members of society and break the cycle of reoffending.

It will also enable a direct supervision model which focuses upon interaction between inmates and staff. These teams will include police officers who will join mental health professionals to respond to calls to those in mental health crisis.

This is being supported by funding secured through the bilateral agreement with the Federal Government. These funds will improve operations by adding staffing and resources to the office, including an additional pathologist. By the end of December, the Ministry of Finance issues a warrant for expenditure and upon receiving this, government agencies can execute the budget.

The budget objectives for the year fitted into the overall hierarchy of Vision , which aimed to make Malaysia a developed country by the end of the following decade. This vision incorporated the National Mission, which in turn was to be delivered through a series of plans, including the 9th Malaysian Plan.

It is therefore clear that, of the two aims that characterise Malaysian budget speeches, the desire to promote economic growth dominates over the need to foster social cohesion. As a result the government adopted an expansionary fiscal policy in order to try and meet the five objectives shown in Table 1.

It also reformed incentives and reduced corporation tax in order to encourage closer collaboration between government and the private sector — something that ministers felt was necessary to achieve the objectives set out in the National Mission.

The journey ahead is full of challenges. We must be determined, dedicated and act with a sense of urgency to ensure we achieve the national objectives within the stipulated timeframe.

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The National Mission, enunciated under the [9th Malaysian Plan], outlines five key development policy thrusts for the next 15 years. The budget speech continued to articulate the importance of the 9th Malaysian Plan, which was based on the five thrusts of the National Mission. Once again, the opening remarks reiterated the five thrusts and set out how well the country was performing economically, although it suggested that the government was increasingly concerned about social cohesion in the aftermath of the financial crisis.

In this way, the budget speeches for and both reflect government confidence over the economy.

Budget Speech

They both refer to the long term Vision , and aim to encourage the nation to work towards economic development. Nonetheless, the themes selected for these years also suggest that the government wants to take an inclusive and holistic approach towards achieving these objectives. As such, social cohesion plays an important — albeit subordinate — role in the budget speech, alongside the desire for economic growth.

During the Peak of the Crisis - Budget and Budget and the Financial Stimulus Package Table 2 shows the themes and objectives associated with the budget speeches of and However, the government had some confidence in the economic foundations of the country, and therefore the speech was carefully worded to articulate concerns about global market uncertainty, as well as to show its strong commitment to protect the wellbeing of the nation.

While still in line with the five thrusts of the National Mission, ensuring the well-being of Malaysians became the primary objective. This demonstrates how the government responded to the financial crisis by making social cohesion the dominant feature of its hybrid budget speech, with economic growth being relegated to a more subordinate role.

Reflecting this prioritisation, the budget focused on the broad range of measures to reduce the impact of rising living costs, especially among lower income groups. The budget speech also showed how the government used language as a technology for articulation to try and bring the whole population together, including those Malaysians of different political persuasions and ethno-socio-economic backgrounds.

It was therefore not merely governmentality of an economic performance exercise, but also a means of fostering social cohesion.

As we move forward, loyalty to the nation and the sense of unity continue to be indispensable in building a peaceful and prosperous nation. While there were attempts to align the interests of people from different political backgrounds, the ruling party would always have the power to shape the thinking of the citizen.

Efforts by certain parties to destabilise the country by attempting to seize power through illegitimate means, and without the mandate of the people, must be rejected. We cannot allow uncertainties to continue, as this will adversely affect foreign investment, economic sentiment and the capital markets.

I will not allow these disturbances to continue.

I will not permit the mandate given by the people to be seized from Barisan Nasional, which had won the last election with a majority of the seats, based on democratic principles. I am confident the people will continue to support the Barisan Nasional Government to govern the nation.

The above quote also illustrates how the budget was used as a mechanism of articulation to strengthen the political agenda of the government.

This happened shortly after the election, at which the ruling Barisan Nasional party suffered its worst election result since Malaysia became independent1. As such, ministers tried to use the 1 Malaya gained independence from Britain in and formed the federal state of Malaysia with the newly-independent territories of North Borneo and Singapore six years later. Singapore separated from this arrangement in In other words, the election and the global financial crisis both contributed towards the Malaysian Government pursuing a more inclusive economic policy, with the budget speech being more explicit about the need for social cohesion.

The Malaysian economy did not start to feel the effects of the financial crisis until the last quarter of , when revenue from exports and investments began to fall. The social nature of many of these initiatives showed once again how articulation by the Malaysian Government was prioritising cohesion by funding inclusive programmes, whilst also trying to reinvigorate the economy.

However, as progressed it became increasingly apparent that this first stimulus package would be insufficient. For instance, exports declined by As a result, the government revised its GDP projections and in March it introduced a second, much larger, stimulus plan of RM 60 billion, which it articulated would be implemented over two years, and However, it is also important to note that the Malaysian government articulated clear social objectives, which were given more prominence than merely a desire to promote economic development.

Although Budget was tabled just seven months after the launch of the second stimulus package, this speech shows how government ministers wanted to claim credit for their efforts in coming out of recession. In this way, it referenced the global economic uncertainty and argued that the stimulus package was a principle reason why the economy was recovering.

This was the first budget speech for the present Premier who took office in April It is based on the acceptance of social justice within a multiracial society. This is a good opportunity to reprioritise programmes, streamline processes and restructure government machinery towards enhancing efficiency and effectiveness, while meeting expectations of the rakyat ordinary people. The theme Together we Prosper invites everyone to play their part in strengthening the economy. Although some citizens viewed the concept of 1Malaysia as empty rhetoric, its language attempts to promote a feeling of national unity and working towards common objectives.

For example, the label of 1Malaysia is used everywhere, including in schools or colleges, youth activities, training activities — even at weddings. The government has also established a 1Malaysia shop that follows the concept of a co-operative form of mini market that offers items to meet basic essential needs at a relatively low price.

This shop also focuses on the products produced by SMEs and acts as a mechanism for the government to control prices and reduce the possibility of multinational companies increasing prices without proper justification.

After the Crisis: Budget and the 10th Malaysia Plan Table 3 highlights the themes and objectives from the budget speech. While the first three objectives of the budget had also appeared in previous years, strengthening public service delivery for the first time appears as a front line objective.

In this way, it echoes the themes from the and budget speeches, which took place before Malaysia felt the full impact of the financial crisis. In this way, the budget speech was the platform used by the government to connect the various programmes of the government with the future development of the country. Now they were integrated as a set of discourses in an effort to align the government, private sectors and the general public towards the same goal of economic development for the benefit of all Malaysians.

For this reason, using the budget speech to articulate reminders of the past would combine the belief and emotions of the citizen with the current programme of governing the economy.

As a result, criticism has turned to praise and prejudice to admiration. Hybridisations of Economic Governance with Social Cohesion through Budget Speech This paper has examined the budget speech during the period of financial crisis as an illustration of its significance for articulation of the Malaysian economic and social agenda. In particular, it demonstrates how the budget speeches included a mixture of rationales for resource allocation both economic development and social cohesion , technologies the mechanisms it sought to use to shape economic and social activities , and actors who are expected to take part in governing the economy and social well-being of the citizen.

Rationales The most obvious purposes of budget speeches is in the articulation to set out how various government programmes link together and how they will be funded — and these features were evident in the speeches we studied. We also found that the rationales for budget allocations were linked to prevailing national agendas of Vision and 1Malaysia, with the latter assuming greater importance after the financial crisis. For instance, during the peak of the crisis, government initiatives prioritised social cohesion, whilst also wanting to stimulate the economy.

This was illustrated by the creation of the 1Malaysia shop, which offers both affordable goods and entrepreneurial opportunities to the citizen.

As such, the Malaysian Government used its budget speeches as a hybrid of practices that brought together both economic and non-economic rationales into an overall national strategy.

This supports the arguments of Miller et al. For instance, the budget objectives during the peak of the crisis were focused on ensuring the well-being of Malaysians and strengthening the national economy. While the budget speech is a platform for the ruling party to demonstrate its political power, the political agenda was carefully articulated in the discourse of governing economic and social wellbeing of the nation.

This is important to ensure the budget is seen as a technology that is in alignment with rationales of governing the economy and social cohesion, as well as to engage various actors including the opposition to work towards common goals. Nevertheless, in order to implement this blueprint, the speech also needs to articulate an engagement with various actors in the process of achieving common goals.

In Malaysia this was achieved through the concept of 1Malaysia, which the government saw as glue to join various actors together, particularly different ethnic and social groups and from across the public-private sector divide, and thereby stimulate economic development but protect social cohesion. Moreover, the budget speeches provided a blueprint for the various actors to play their part in improving the economic and social wellbeing of Malaysians. For instance, they urged public servants to improve their productivity and the quality of public services.

Also read: BUDGET INDIA PDF

As such, we can see how they sought to mobilise various societal actors to achieve both the economic and social objectives of the government. The research adds to governmentality literature that primarily has been focused on western liberal democracies, with insights from a South East Asian context in the form of Malaysia.

Further, this study also adds to the limited literature that investigates hybridisation of practices and processes Miller et al.

National Budget Speech

This article found that budget speeches comprised various rationales, technologies and actors for both economic growth and social cohesion, and therefore demonstrated a hybridisation of accounting practices.

In particular, the Malaysian Government used budget speeches for articulation purposes in three ways. Firstly, they were viewed as technologies to align the interests of various constituents towards common goals. In doing this, the government articulated various programmes of governing the economy and linked them with the discourse of unity, economic prosperity and financial performance to promote social cohesion — particularly after The concept of 1Malaysia for instance, is the glue that holds people together in the spirit of sharing the economic cake among multi-racial constituents.

Although there were explicit calls to forget the differences in political ideology once the impact of the financial crisis became clear, our analysis clearly shows that the budget speech was used as a space for articulation to combine political interests with economic strategy.

The decision to use the budget speech to promote a political agenda is understandable, as this event receives wide coverage in the country. Thirdly, we suggest that the budget speech is a hybridisation of rationales, technologies and actors and is a form of practice that draws on both economic and non-economic agendas. In the context of Malaysia, articulation of budget speeches in the aftermath of the financial crisis blended economic rationales as set out in the Vision programme with various non-economic rationales which were grouped under the concept of 1Malaysia.

In other words, the budget is not just a technology for shaping the governable person to do their bit in the national interest for economic stability during the financial crisis and economic progress post financial crisis.

This is particularly important following financial crises where the perceived fairness of resource allocation may be called into question potentially undermining systems of governance and even political regimes of government. References Ahrens, T.Speaker, we appreciate some of the challenges parents can experience securing care for their children, as well as the cost that comes with it.

However, as progressed it became increasingly apparent that this first stimulus package would be insufficient.

This was illustrated by the creation of the 1Malaysia shop, which offers both affordable goods and entrepreneurial opportunities to the citizen. We have targeted these high-growth industries first through the work of our Cabinet Committee on Jobs.

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However, it is also important to note that the Malaysian government articulated clear social objectives, which were given more prominence than merely a desire to promote economic development.

Wildavsky, A.

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The journey ahead is full of challenges. The decision to use the budget speech to promote a political agenda is understandable, as this event receives wide coverage in the country. The second resource are technologies that attempt to standardise managerial and administrative interventions, including bureaucratic tools such as strategic plans, performance measurement systems and budgets.

In Silverman, D.