Hope Fund has some hope

Maybe the Hope Fund can work, especially if corporations contribute to it.

Dr M has announced that the government would be setting up a "Hope Fund" for people to help reduce the government's massive debt obligations.

This is not the first time Dr M has attempted to do something like this. Back during the 1998/99 economic crisis, he had set up something similar where people could donate money and even jewellery (anything of value) to help the government out of its economic woes. That one was a flop.

The reason is simple. Back then, most civic-minded and conscientious people felt the government was corrupt and didn't want to contribute. It's probably the same reason people hate the GST so much (beyond the fact that it raises the price of goods by 6%). They felt the BN government was corrupt and that the GST was needed precisely because so much public funds had been siphoned off for things like 1MDB.

When people think the government is corrupt, they don't want to contribute. Now that there is a new government in place, perhaps the Hope Fund has a chance. People may want to contribute, especially if they are confident that their donations will actually be used for its intended purpose, of paring down the government debt.

Frankly, the contributions of individuals is insignificant. It makes for good headlines to say so and so contributed his or her hard-earned savings towards saving the country. But the corporations can really make a difference. And this is where much of the big money can (and should) come from.

Some might want to contribute because they sincerely want to do "national service" and help to reduce the heavy debt burden. Some might want to do it to show the new government that it's a good corporate citizen. It doesn't matter. Whatever the motivation, if they contribute millions of ringgit, it will help the country reduce its debts.