Ideas urges govt to ensure thorough process in early budget tabling

by AKMAR ANNUAR / pic TMR FILE

THE Institute for Democracy and Economic Affairs (Ideas) is calling on the government to immediately deliberate on the budget and other important legislation more rigorously.

Following recent news reports that the tabling of the national budget will be brought forward to Oct 7, Ideas believed that by tabling the budget earlier, the Parliament will have more time to discuss it.

It said it is crucial that the budget team has sufficient time to collect comments and feedback from all sectors and groups through the series of consultations the Finance Ministry is currently conducting.

“We believe that the government has a responsibility to ensure that a thorough process is maintained and to have sufficient time to prepare a detailed and programmatic budget for 2023,” it said in a statement today.

It added that the processes such as the anticipated political financing and fiscal responsibility bills should be investigated by all parties as they will be beneficial for the country in the long term.

Meanwhile, Ideas CEO Dr Tricia Yeoh said each year, the tabling of the national budget is the most anticipated event in the policymaking and business sector.

“Rightly so, as the budget lays out a comprehensive roadmap of all expenditures that are intended for the following financial year, including the much-desired incentives and benefits, especially for the vulnerable groups and households in the recovery phase,” she said in the statement.

She added that the responsibility falls not only on the Cabinet, but also on the backbenchers and the Opposition to balance policymaking needs with the political process.

“We call on parliamentarians to focus on permitting both policy and committee stages of the budget to be followed through; and finally, having the budget Parliamentary debate run its full course,” she said.

Yeoh concluded that the interests of the nation must be the priority and must always be the foundation of any policymaking decision.