PM Anwar’s Robin Hood Budget is populist but no game changer for Malaysia’s economy

KUALA LUMPUR – There’s a story going around that Malaysian Prime Minister Anwar Ibrahim eschews wearing a necktie because he adheres to the view that it’s a symbol of subjugation to the wealthy aristocratic class.

The story’s probably apocryphal, but it is in keeping with the messaging so far from his three-month-old government. The revised Budget 2023 he tabled on Friday further reinforced this stance, containing measures to tax and redistribute the wealth of the “super-rich”.