ust to recap the key pointers of our Budget 2022 Preview strategy piece released last Friday:

- Modestly expansionary, with focus on building resilience (B40, MSME) & rehabilitation (of GLCs)
- *Unlikely chances of punitive new windfall taxes (low probability) and capital gains taxes (moderate probability)
- There could be a temporary rate rise in the high income bracket personal taxes
- Potential moderate beneficiary sector: Plantation (raising base price for CPO windfall tax), property (continuing Home Ownership Program incentives), banking (proposal for the sector to absorb the gov mandated 3-month interest waiver for targetted groups rather than a blanket waiver for B50 income earners)