Deputy Prime Minister Lawrence Wong stated that this year's budget will focus on moving forward beyond Covid-19.
The Finance Minister stated in a Facebook post that the Budget would focus on "moving forward in a new era" and will outline how Singapore will secure its future in a challenging world.
The Budget will be presented in the Parliament on Tuesday at 3.30 p.m.
Mr. Wong explained that it is intended to assist Singaporeans grab new possibilities, enhance the social compact, and provide certainty for families, all while fostering a collective resilience as a nation.
Monday also marks the end of Singapore's Covid-19 restrictions, as announced on February 9 at a news briefing by a multi-ministry task task force. This includes the removal of mask restrictions on public transportation as well as border controls.
“We have pulled together to weather the crisis of a generation. While we have emerged stronger together from the pandemic, we now have to prepare for a new post-pandemic future,” said Mr Wong.
“The road ahead will not be easy. But through our collective efforts, and the trust we have in each other, I am confident that we will strive and secure a better tomorrow for all, and for our future generations.”
This budget will outline the enhancements to the Assurance Package that were previously mentioned. The $8 billion assistance package intended to mitigate the impacts of the goods and services tax (GST) increase will be revised to account for higher-than-anticipated inflation.
In addition, it is anticipated to incorporate revisions to government policy based on the feedback and suggestions provided during the Forward Singapore exercise.
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