Tengku Zafrul’s missed ‘golden opportunity’ for changes

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Finance minister Tengku Zafrul Abdul Aziz presenting the 2022 budget on Friday. (Bernama pic)PETALING JAYA: The 2022 budget was a missed “golden opportunity” to make real changes, noted economist Jomo Kwame Sundaram told a public forum today, while an MP said budget proposals should come under greater parliamentary scrutiny.Jomo, a noted economist and former government adviser, said the missed opportunity was “something quite sad”.The 2022 budget, being a pre-election budget, was the perfect time for finance minister Tengku Zafrul Aziz, who is not an MP, to reduce the political elements in government budgets, he said.Jomo also called for the government to move towards a more progressive tax system based on taxing income and wealth, rather than on consumption. Jomo Kwame Sundaram.He said tax initiatives introduced in the 1980s had shown that lower income and company taxes did no…