DPM Lawrence Wong meets businesses, social sector leaders & union workers in lead up to Budget 2023

13/02/2023

Singapore has finite resources. They need careful stewardship in order to meet our people’s needs sustainably. Especially during difficult times like now

And that’s where our Budget comes in.

Deputy Prime Minister and Minister for Finance Lawrence Wong has been busy for months crafting Budget 2023. He will deliver it live tomorrow afternoon (Feb 14) at 3.30pm.

“It will be my Valentine’s Day present to all,” he said earlier this year (Jan 3).

Titled “Moving Forward in a New Era”, Budget 2023 has been a long time in the making, with DPM Wong getting feedback from Singaporeans from different walks of life — captains of industry, social sector researchers, economists and union workers and leaders.   

Chats with captains of industry

“We…discussed the many opportunities for growth and transformation that lie ahead, including how we can help companies innovate, internationalise and continue their transformation journeys,” posted DPM Wong after his dialogue with business leaders at the Singapore Business Federation’s pre-Budget engagement.

“The sentiments are more positive compared to previous years when we were in the throes of the pandemic,” said DPM Wong.

“But the outlook for the coming year remains challenging, with concerns about inflation and business costs continuing to weigh on everyone’s minds.”

During the dialogue, DPM Wong also heard business leaders’ concerns about rising operating costs.

“We will consider carefully all the inputs and feedback from the industry, as we put together our plans for the Budget.”

Speaking with social sector experts

DPM Wong also met social sector leaders and social researchers in the lead up to Budget 2023:

How went those meetings, though?

“Had good discussions with several social sector leaders and social researchers over the past week. I value the feedback and inputs from these sessions as we prepare for #SGBudget2023.” 

A firm promise to the Singaporean everyman

“#EveryWorkerMatters, and we are committed to supporting you — not only now, but also for the future,” wrote DPM Wong after a dialogue with the Labour Movement.

“Together with NTUC Singapore, we will continue to put the well-being of workers at the heart of everything we do. We will work closely with all our tripartite partners — employers and unions in the Labour Movement — to build a better Singapore!”

Engagements with economists

“Recently had good sessions with economists and more,” noted DPM Wong near the start of a packed week.

“Your views help shape the future of our country, as we continue building a fairer, greener and more inclusive home. 🏡”

Insights with innovators

“A visit to Mooreast, a homegrown company that provides anchoring and mooring solutions in the oil and gas industry,” wrote DPM Wong after spending the day touring its Tuas work yard.

“And it is now applying its capabilities in the growing offshore renewable energy space.”

“In the coming #SGBudget2023, I will share more about how we can build our enterprise capabilities to ensure Singaporeans seize new opportunities through innovation,” DPM Wong added.

Catering to the needs of Singaporeans

The thing about Budgets is that they are not just about numbers.

There is a very human dimension to them. The PAP Government is committed to benefit Singaporeans of all ages, even during this globally cloudy era — by spending to improve (among other areas) early childhood education, uplift lower-wage workers and enhance healthcare.

A good Budget is one that takes into account the needs of Singaporeans from all walks of life, and try to meet them, while making sure we invest enough for future generations.

And so perhaps the best Valentine’s Day gift this year is a Budget that is inclusive, meets the needs of different Singaporeans, and secures us a future in a post-pandemic world.

Images via Lawrence Wong/Facebook