KUALA LUMPUR – Prime Minister Datuk Seri Anwar Ibrahim’s Budget 2024 has sailed through the Dewan Rakyat at the policy stage via a voice vote today.
The RM393.8 billion budget, first tabled in Parliament on October 13 by Anwar, who also serves as finance minister, will go through the committee stage when the Dewan Rakyat session resumes on Monday.
At around 7pm, Dewan Rakyat Speaker Tan Sri Johari Abdul called for a voice vote after Anwar completed the Finance Ministry’s winding-up speech on the Supply Bill 2024, which lawmakers from both sides of the political aisle have been debating over the last three weeks.
MPs were heard giving a clear “Setuju!” (agree) when Johari called for the voice vote.
Opposition lawmaker Datuk Seri Shahidan Kassim (Arau-PN), however, took the time to quip in jest that the speaker should not rush through the vote process, saying: “Don’t go so fast, do it slowly so that it sounds nicer.”
Johari merely answered: “I want to go break my fast (buka puasa).”
During the committee stage, MPs will be allowed to scrutinise budget allocations for all ministries before another voting session is held, prior to the supply bill being tabled for the final approval or third reading.
It will then be tabled in the Dewan Negara before being submitted to the Yang di-Pertuan Agong for the royal assent.
Themed ‘Economic Reforms, Empowering the People’, Anwar’s supply bill is the biggest budget the nation has seen to this point, with RM303.8 billion for operating expenditures, RM90 billion for development expenditures, and RM2 billion for contingency savings.
Among the key points in Budget 2024 is that next year’s fiscal deficit is expected to decrease to 4.3% compared to the 5.0% target this year.
The government will also enforce the new high-value goods tax and the capital gains tax, the latter of which will be implemented for the disposal of unlisted shares by local companies based on the net profit at a rate of 10% from March 1, 2024. – November 2, 2023