KUALA LUMPUR: The Dewan Rakyat today passed the 2024 Supply Bill (2024 Budget) at the policy stage with a majority voice vote.
The voice vote was called for by Dewan Rakyat Speaker Tan Sri Johari Abdul after Prime Minister Datuk Seri Anwar Ibrahim, who is also finance minister, completed his winding-up speech on the bill.
Johari then proceeded to announce that the bill had been passed.
The 2024 Budget will now proceed to its second reading to be debated at the committee level, before being presented in Dewan Negara.
On Oct 13, Anwar tabled the 2024 Budget, the second Madani budget, demonstrating the unity government's commitment to empowering the people's economy.
Themed "Economic Reform, Empowering the People", the 2024 Budget involves an allocation of RM393.8 billion, the highest budget ever tabled by the government.
Of the total, RM303.8 billion was allocated for operating expenditure, RM90 billion for development expenditure and RM2 billion for contingency savings.
Among the key points of the budget was that next year's fiscal deficit was projected to decrease to 4.3 per cent compared to the 5.0 per cent target this year.
The government will also enforce a capital gains tax for the disposal of unlisted shares by local companies based on net profit at a rate of 10 per cent from March 1, 2024