The 2008 Budget, to be tabled in Parliament on Sept 7, is expected to bring more cheer to the rakyat as well as businessmen as the government is expected to announce several major incentives in its move to spur the country's economic growth, according to a local bank.

"We foresee this year's Budget to be fundamentally a people's Budget with further incentives to encourage new growth areas and initiatives that will put more money in the hands of the people," Alliance Banking Group chief executive officer Datuk Bridget Lai said today.

"We foresee this year's Budget to be fundamentally a people's Budget with further incentives to encourage new growth areas and initiatives that will put more money in the hands of the people," Alliance Banking Group chief executive officer Datuk Bridget Lai said today.

"It also will be a business-friendly Budget in spurring economic growth, reducing further the cost of doing business in Malaysia and renewing confidence in the country's performance and competitiveness vis-a-vis other emerging markets," she told Bernama in pre-Budget comments here.

Lai said that to underscore its seriousness in delivering on this year's Budget theme, the government had already made several major announcements, all of which are geared towards the fulfilment of the 2007 Budget promises.

"Already there is something for everyone in terms of the allocation of the economic pie," she added.

"There is the Iskandar Development Region in southern Johor, the Northern Economic Corridor Region and the Eastern Corridor.

"In addition, there have also been various other announcements and developments on the corporate and personal tax incentives front, all of which have created a 'feel good' environment."

The 2007 Budget's theme is "Enhancing Competitiveness and Sharing Economic Prosperity".

Source : BERNAMA