The Federal Budget will now be postponed by more than a month. The Speaker received a letter from the prime minister informing him of the change. The tabling of the budget was originally slated for 2nd October and now the new date is 6th November.
A postponement of this nature is not good news for an already jittery economy. This is not going to be a confidence booster. In the best case scenario, this postponement means that the government just needs more time to organise itself financially, but in the worse case scenario, this postponement could mean the government is just clueless.
I think the clueless argument is better supported by the fact that the 12th Malaysia Plan (RMKe-12) which was slated to be tabled on 6th August, will also be postponed with no indication whatsoever, when it will be tabled.