Take a look at yourself in the mirror, Pua tells Najib

PETALING JAYA: DAP today dismissed Najib Tun Razak’s claim that Pakatan will bankrupt the nation if they came into power, asking him instead to take a “look at himself in the mirror”.

Contrasting the expenditure and debt collection records between BN and Pakatan, DAP national publicity chief Tony Pua said the prime minister’s claims were preposterous.

He was responding to Najib’s fiery speech at the Umno annual general assembly yesterday where the Umno president accused Pakatan of espousing poor policies.

Najib said Pakatan’s plans, which included a RM4,000 monthly household income, abolition of tolls, RM500 special allowance for teachers and 20% royalty for oil-producing states, will spiral the federal budget deficit to almost 30% in the first year.

“By 2015, our debts to GDP will sky-rocket to 140%. In three years, we will reach a critical stage where we will lose our economic sovereignty, like Greece,” said Najib.

Pua said Pakatan, in its Alternative Budget 2013, spelt out expenditure proposals at RM234 billion and projected deficit of 3.5%, as opposed to BN’s RM252 billion and a 4% deficit.

“How did Najib pluck a 30% or an incredulous RM300 billion deficit from thin air?” he asked.

Pakatan prudent in managing finances

The PJ Utara MP also criticised BN’s “unacceptable excuses” for not recovering the RM250 million soft loan to the Umno Wanita chief Shahrizat Abdul Jalil’s family in the failed NFC project.

On the other hand, Najib had instructed that the RM589.6 million outstanding debt from Tajuddin Ramli to federal government subsidiaries be written off for no good reason.

Pua said at the same time, about RM140.2 billion worth of contingent liabilities or federal government guaranteed debts are not included in our official debt of RM502 billion.

“The contingent liabilities or hidden debts are rising at an exponential rate as a means for the BN government to bail out cronies and failing GLCs such as the RM12.5 billion PKFZ,” he said.

The DAP MP said Pakatan-led states, on the other hand, have been prudent in managing state finances.

He cited as examples the Selangor government’s recovery of RM392 million debts from Talam Corporation and the financial surpluses in Penang and Selangor.

“Hence the proof of the pudding is in the eating, and Malaysians can evaluate and compare the performance of the BN administration against Pakatan state administrations,” he said.