00:00 For structural reform, the top three things I would do is I would finish what everyone
00:06 speaks of in terms of subsidy rationalisation.
00:10 That's number one.
00:11 So that's really introducing the subsidised quota for petrol goods every month.
00:23 So that's done on a means-tested basis.
00:25 However you do it, I think the RFPZ is doing something with a bunch of stats from different
00:30 data departments.
00:31 But you have to do it.
00:32 You have to rationalise subsidies.
00:34 That means it's means-tested, especially your petrol goods and your utilities.
00:38 Secondly, tax base has to be increased.
00:42 In a sentence, it's bring back GST, full stop.
00:44 That's it.
00:46 We can argue until the cows come home, whether it's regressive or otherwise.
00:50 But my view has been that since I was 2018, at Guaneng.
00:54 I debated it many times in Parliament.
00:56 I said there's a huge mistake.
00:57 There's one thing that you should renege on in your manifesto is don't touch GST.
01:02 And of course, come in together slowly with the biggest exclusion list in the world.
01:09 We have the biggest exclusion list in the world, or zero rated item in the world.
01:12 You can go Pasar Malam, Pasar Tani, no GST.
01:15 No other country has that.
01:17 But we did.
01:18 And it still contributed, I don't know, 20 plus billion additional to the KT, which is
01:22 needed.
01:23 So that's number two.
01:24 Pension reform.
01:25 Absolutely 100%.
01:26 I told the, I brought this up in cabinet many times when I was minister.
01:31 I told Anwar this when I met MOF.
01:33 I said, every day that you delay pension reform, you are adding to the pension bill.
01:41 This is a government pension bill.
01:42 So everyone needs to move to EPF.
01:45 Apart from those who are already in government.
01:48 You cannot touch people who are already government officers.
01:52 Once they're in there, you can't change the contract.
01:55 It can't be retrospective.
01:56 That's bad.
01:57 But for new hires into government, for permanent staff, no more pensions.
02:03 Including politicians.
02:04 I've always felt that if you are there, you should make the tough decisions, even at your
02:11 own expense.
02:12 And that's why I said you have to have a policymaker that doesn't really care what happens to them.
02:20 And again, I would try to make it as irreversible as possible, because nothing is irreversible.
02:26 But if you do these three things, then I think your fiscal space, okay lah.
02:30 Apart from your rationalising programmes, too many government departments, wastage,
02:35 all that kind of stuff.
02:36 That's all important, all that.
02:37 Anwar talks about good governance and all that.
02:39 But that only takes you so far.
02:42 These are the three big ticket items.
02:43 Do you agree?
02:44 These are the three big ticket items.
02:46 That's it.
02:47 It's not rocket science.
02:48 [end]
02:48 [BLANK_AUDIO]
