SINGAPORE - This year’s Budget is about equipping Singaporeans to weather the “formidable challenges” expected as a result of heightened global uncertainty, Deputy Prime Minister Lawrence Wong said in his Budget speech in Parliament on Tuesday. Read more at straitstimes.com.
SINGAPORE - This year’s Budget is about equipping Singaporeans to weather the “formidable challenges” expected as a result of heightened global uncertainty, Deputy Prime Minister Lawrence Wong said in his Budget speech in Parliament on Tuesday.
Expenditure by the Manpower Ministry is also expected to decrease by $2.3 billion, or 37.6 per cent, year-over-year, mainly due to the Jobs Growth Incentive Scheme ending in March. Still, the total expenditure estimated for FY2023 is higher than FY2021 and the years before, as measures will be taken to help Singaporeans tide over immediate cost-of-living pressures, among other things.
To fund these measures, the Government is expecting operating revenue of $96.7 billion in FY2023, which is up by 7.1 per cent over revised FY2022 estimates.
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