Dewan Rakyat passes Budget 2026 at second reading

PARLIAMENT | The Dewan Rakyat passed the Supply Bill 2026 at the second reading via a bloc vote.

Speaker Johari Abdul said it passed with 120 votes in agreement and 67 votes against.

A total of 35 MPs were absent, he said.

Opposition chief whip Takiyuddin Hassan (PN-Kota Bharu) called for the bloc vote by invoking Standing Order 46(4). He was supported by more than 15 MPs.

The next phase is debates at the committee stage, which is expected to run from tomorrow until Nov 27.

Prime Minister Anwar Ibrahim, who is also the finance minister, tabled Budget 2026 on Oct 10.

The allocation for the budget stands at RM419.2 billion, RM1.8 billion less than the last budget.

The Anwar administration has reduced spending due to pressure from global oil prices.

The government has prioritised expenditure on healthcare and education, with RM46.5 billion and RM66.2 billion allocated for the Health Ministry and Education Ministry, respectively, alongside expanded aid for students, teachers, and health workers.

Comprehensive fiscal approach

Earlier, Finance Minister II Amir Hamzah Azizan, in his ministry's winding-up speech, addressed concerns regarding the involvement of GLCs, government-linked investment companies (GLICs), federal statutory bodies, and Minister of Finance Incorporated (MOF Inc) companies in the budget.

He framed it as a move that constitutes part of a more comprehensive fiscal approach, as the involvement of a selected number of these entities will make "catalytic" domestic investments.

"This approach optimises national resources under a coherent direction, in line with national priorities, as well as ensuring that the economic impact and the people's well-being are at the highest levels," he asserted.

He stressed that GLICs, in ramping up domestic investments to RM30 billion next year, will not touch government funds.

Neither will the loans for their projects be backed by the government, Amir added.

"(GLICs) will use their own funds. That is an important thing because we also have to comply with what we put in the Public Finance and Fiscal Responsibility Act 2023," he said.

In presenting the budget, Anwar said spending by GLICs, statutory bodies, and public-private investments would provide the government with an additional RM50.8 billion for public initiatives.

Several parties have criticised this, with former economy minister Rafizi Ramli cautioning that the move could negatively impact strategic companies involved in the matter.

Reporting by Alyaa Alhadjri, Haspaizi Zain, Zarrah Morden

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