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Finance Minister is accountable to Parliament with Fiscal Responsibility Act

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KUALA LUMPUR: With the recently passed Fiscal Responsibility Act, the Finance Minister is now accountable to Parliament for hitting fiscal targets, says Datuk Seri Anwar Ibrahim.

"Implementing targeted subsidies, the capital gains tax and the high-value goods tax will increase the government's revenue by RM4bil. Hence, I believe the fiscal targets can be achieved". He said this means that the government cannot set targets arbitrarily as it is answerable to Parliament.He also said that the notion that narrowing fiscal deficits would mean that there will be less funds for development and spending on the well-being of the people is false.

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