The Hope Alliance, led by former Prime Minister Mahathir Mohamad, also promised to clip the powers of the prime minister, revive a fuel subsidy and abolish tolls.
The next general elections must be held by August but are widely expected in the second quarter this year.
Mahathir said in announcing the coalition's manifesto late yesterday that the opposition has been labelled "government-in-waiting" as he rallied supporters to unite to oust the coalition that has ruled since independence.