Balance was a key theme of DPM Wong's speech as “the Budget cannot cover everything”. Read more at straitstimes.com.
SINGAPORE - Budget 2023 has been a delicate balancing act to find the sweet spot amid a tight fiscal position and competing demands, said Deputy Prime Minister Lawrence Wong on Friday.
“So we enhanced our parenthood and family-related schemes in this Budget. Next time, we will look at other schemes, so everyone will get a chance,” said Mr Wong, adding that every Singaporean still stands to benefit from the Budget. “The Government remains very focused on advancing the well-being of the broad middle of society,” added Mr Wong, who is also Finance Minister.
“Compared to citizens elsewhere, Singaporeans pay much less in taxes and yet are able to enjoy high quality public services. At the same time, this low tax burden rewards hard work and enterprise and allows our people and businesses to keep most of what they earn,” he said in a 90-minute speech wrapping up the Budget debate.which had included a suite of measures to support parents and families, as well as financial support measures to combat the rising cost-of-living and inflation.
Mr Wong said he wanted to set the record straight on economic growth. Singapore remains focused on growing the economic pie and has not moved from a pro-growth to a pro-redistribution approach.
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