Budget 2020 Speech to Be Delivered in Singapore 18 February
The Budget is Set to Tackle Immediate and Long-term Issues
Singapore’s Finance Minister is set to deliver the annual speech for this year – the Budget 2020 speech – on 18 February.
The announcement is set to be broadcasted on live television and radio. A live webcast will also be made available on the official website of the Singapore Budget. The Budget 2020 Speech will be a concise and strategic plan to financially address the near and long-term issues of the country.
Each Singapore budget has been built on budgets from previous years. Essentially, the older budgets have laid the necessary groundwork for newer budgets to continue their efforts on. The Budget 2020 speech is set to reflect the nation’s responsibilities, hopes and efforts to make the people a priority.
The new budget will reflect on how far Singapore has come as a nation. It will also draw on critical key lessons as the country works together to build a better future moving forward.
Measures Include in the New Budget
In an annual New year speech, Singapore’s Prime Minister Lee Hsien Loong gave the assurance that new budget will include several measures. These measures will include helping families, businesses, workers, the elderly, the poor and the vulnerable in Singapore’s society. Companies will be given the necessary help they need to build greater capabilities and raise productivity levels. This will be particularly beneficial for the mid-career professionals, managers, executives and technicians (PMETs).
As for the elderly and poor who rely on social safety nets, the Budget 2020 speech will announce improved measures in place. The government plans to help these household manage and minimise their cost of living.
This year, the government plans to increase its measures to support businesses. Included in the plan is the support provided to help eligible workers gain the skills they need. Additionally, families caring for senior members will be given the support they need. The details of this will be unveiled at the upcoming Budget 2020 speech.