COVID-19 pandemic has worsened the uncertainty of B40 households regarding job security and the development of their children’s education. Government’s approach to address their economic challenges must be radically changed.
A comparison of stimulus packages between Malaysia, Singapore and the UK was done in this paper. Malaysia package should focus on companies and preservation of employment as per Singapore and UK packages.
We should not overlooked impact of the Covid-19 outbreak on the nation’s low-income group and gig workers.
Malaysia urgently needs to reassess its classification of income groups to ensure policies are relevant and targeted appropriately. A B20, M60, T20 rather than a B40, M40, T20 classification reflects the population demographic and aspirations more accurately, thereby streamlining welfare expenditures without compromising the wellbeing of the worst-off in Malaysian society…
A massive intervention is required to prevent the economic fabric of the nation from disintegrating. What are the immediate efforts required to “flatten the recession curve”, and why it is important to do it, now.
FWAs are more than just a tool to cope with Covid-19, their positive externality effects such as diversifying economic growth and labour force, as well as reducing traffic congestion, are too good for us to pass up for much longer.
Our post-crisis recovery efforts should be planned well in order to rebuild the country for a stronger and more resilient economy and society under the idea of “build back better”.
To cushion the sudden global downturn, the government need to double down on measures announced, expand scope of application to more workers and businesses, and do it quickly.