Singapore’s economy is in a better position today as compared to 2020 when the virus first emerged. Nevertheless, the PAP government is not resting on its laurels. It remains committed to helping Singaporeans manage the cost of living while putting our country in a stronger position for the future.
This was emphasised by Finance Minister Lawrence Wong at a CNY business community event on Feb 3, 2022, where he gave a glimpse of what to expect in the upcoming Budget 2022 and promised that the Budget will tackle immediate cost of living concerns while planning ahead for future generations.
Sectors like aviation and tourism that continue to face difficulties will also continue to receive support, he added.
He also said that Budget 2022 will also focus on measures that will put Singapore in a stronger position for the post-pandemic world.
The measures include building new capabilities for the future; continuing to grow and transform the economy to create good jobs and opportunities for all Singaporeans; strengthening social support system; and forging a fairer, more inclusive, greener home for Singaporeans and the future generation.
He also noted that after experiencing the Delta and Omicron waves, we have strengthened our defences and become more resilient.
“This year, we are experiencing the Omicron wave. The daily infected cases are higher than before. But fortunately, the vast majority of vaccinated persons only have mild symptoms. So, we will do our best to ride through this Omicron wave without having to tighten our existing measures,” he said.
To leave no one behind
This year’s Budget will continue to build upon the foundations laid by our founding leaders as we move to strengthen the inclusiveness, cohesiveness and equity within our society
The PAP government believes in society-wide upliftment; It is the real Singapore Story. Senior Minister Tharman Shanmugaratnam said in 2015 that mobility for Singapore’s lower-income children is higher than in Denmark, and almost twice as high as in the US.
Budget 2022 will bring all Singaporeans forward in a fair and inclusive way as it addresses immediate issues such cost of living, while building a brighter, more secure future for all Singaporeans.
Together, we will ride out the current storm as we prepare for the better days that lie ahead.
Cover photo credit: Jem Sahagun on Unsplash
