While we are still digesting the ‘shock’ of hearing a minister saying (the shock is more because it is rare for a minister to be so frank and not the bankruptcy part) that if we don’t mend our way, we will go the way of Iceland and Greece, another shock is being created.
The country is burdened with this amount of debt (quoted from the Sun):
While the government owes a debt of RM 362 billion , someone announced that the Parliament is going to be shifted to PutraJaya at a cost of 800 millions.
At the rate these people plan their projects , Malayisa may become bankrupt even before 2019. A big chunk of our operating budget goes to pay debts, and we should try to be more financially conservative to reduce this debt so that in future we will have more money for development purposes.
If I owe a bank 3 millions, I would definitely hesitate to spend 80,000 to renovate my house. I would rather use this 80,000 to pay off part of the debt.
Even if we do not use the 800 millions to pay off external debts, we can use it more productively, like improving Mass transits in city, or create more scholarships to send deserving students, rather than to build a Parliament hall as great as a 6 star resort. Britain has been using their Parliament buildings for centuries. Why can’t we do the same?