Govt dips into consolidated fund for 'mini budget'

PARLIAMENT | Putrajaya will seek Parliament’s permission to spend RM107.7 billion from the Consolidated Fund to fund government services next year.

This was detailed in the Consolidated Fund (Expenses on Accounts) Bill 2022 that was tabled by Prime Minister and Finance Minister Anwar Ibrahim today.

According to the explanatory notes for the bill, a partial expenditure was necessary because the Supply Bill for 2023 cannot be passed before Jan 1, 2023.

The debate on the bill is expected to take place tomorrow.

The government will be invoking Article 102(a) of the Federal Constitution which allowed Parliament to authorise expenditure for a part of the year before the passing of a Supply Bill.

Although the previous Ismail Sabri Yaakob administration tabled a Supply Bill for 2023 in October, Anwar’s administration will table a new one soon.

This was not without precedent. In 1999 - an election year - a similar “mini budget” had to be tabled in December.

Then finance minister Daim Zainuddin tabled the budget for 2000 only on Feb 29 that year.

At RM107.7 billion, the “mini budget” for 2023 amounts to just under a third of the expenditure for the entire year of 2022. - Mkini