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Budget 2024: govt encouraging women to rejoin workforce with tax incentives, childcare initiatives | Scoop
The government will be implementing several initiatives to increase the rate of women’s participation in the workforce to 60%. – Scoop pic, October 13, 2023
News

Budget 2024: govt encouraging women to rejoin workforce with tax incentives, childcare initiatives

Kemas will receive RM586 mil with RM20 mil to upgrade its education premises

Bernama
Updated
8:36 PM MYT

 

KUALA LUMPUR – The unity government, through the Malaysia Madani Budget 2024, will implement several initiatives to raise women’s participation in the labour force to 60%, which is a benchmark in the Madani economy framework.

“To continue encouraging women to return to work, the tax incentives for women to return to work will be extended until December 31, 2027. 

“The government proposes for income tax exemption limits on childcare allowance received by workers or paid directly by employers to childcare centres to be increased from RM2,400 to RM3,000,” he said when tabling Budget 2024 today. 

Anwar said the government will continue to pay attention to early childhood education, with the Community Development Department (Kemas) receiving RM586 million next year, while RM20 million is allocated to upgrade Kemas early childhood education premises. 

He said a total of 10 new kindergartens and nurseries costing RM31 million will also be built in Kg Paya Berenjut in Kemaman in Terengganu, Felda Jelai 1 in Negri Sembilan, and Taman Kota Masai in Johor Bahru, Johor.   

“(A total of) 26 new pre-schools under the Education Ministry will be built costing RM82 million, including the construction of pre-school buildings in SK Abang Kadir Gedong, Simunjan, Sarawak, SK Bunut Rendang, Kuantan, and SJKC Chabau, Melaka,” he said. 

To empower the appreciation of Islamic education and knowledge of the Quran from a young age, Anwar said the government will implement Kemas pre-tahfiz programmes with an allocation of RM20 million aimed at producing 100,000 “hufaz cilik” (young Quran memorisers) by 2026. 

He also said that the government will expand the Immigration Department’s Baitul Mahabbah (Welfare Centre) programme next year to provide temporary shelter for children, with three such centres, involving an allocation of RM10 million. 

He said these initiatives will be implemented in line with inclusive development to ensure equal opportunity for all, adding that specific assistance will continue to be channelled to certain groups, especially the vulnerable group and those requiring aid. 

To increase the capacity and competitiveness of Bumiputera micro, small and medium enterprises, Anwar said a total of RM1.6 billion worth of loan facilities and guarantees are provided specifically for that group, including the provision of capital venture financing for Bumiputera start-up companies.   

In addition, Anwar said Bumiputera investment institutions will be placed under Yayasan Pelaburan Bumiputera (YPB). 

“Pelaburan Hartanah Bhd (PHB) will also be merged under Permodalan Nasional Bhd (PNB) and strengthened through the government’s strategic land injection, especially in Kuala Lumpur, for housing projects. 

“Equinas will also be placed under the umbrella of YPB to enhance Bumiputera business expansion with the collaboration of PNB and Perbadanan Usahawan Nasional Bhd,” he said. – October 13, 2023

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