Mark the Date for Singapore 2021 Budget – 16th February 2021
Singapore will be unveiling its 2021 budget in the midst of February later this year. In his announcement last Thursday on the 31st of December 2020, the Deputy Minister of Singapore assured Singaporeans that the Government is ready to tackle the projected economic turmoil. The Minister of Finance added if the track to recover the economy is on course, then the Budget 2021 will be more ‘traditional’, however, if the situation takes a turn and becomes dire, the Government is prepared and ready to adapt accordingly.
What You May Have Missed
In the Finance Minister’s announcement, he also addressed COVID-19’s impact on the country, especially the toll it took on the economy. The Minister informed the public that “Preparation of Budget 2021 is well on its way,” and the outbreak is contained, coupled with the ongoing vaccination exercise. At the time being, the Government is prioritizing on crucial areas such as vaccination, testing, tracing, and safety management.
For those wanting to watch the Budget 2021, they can do so by logging on to the Singapore Budget website to catch a live telecast session, radio coverage and a live webcast as well. After the budget delivery, a complete version of the Budget Statement will be published on the Singapore Budget website. Aside from that, keynotes from the speech will be updated on a real-time basis in the Ministry of Finance’s (MOF) website and Twitter account.
Share Your Thoughts
Leading up to the budget, plenty of platforms have been designated for Singaporeans who would like to share their opinions, suggestions and hopes for the upcoming Budget 2021, until the 8th of January 2021. REACH – a Feedback unit under the Ministry of Communications and Information (MOI), has established roving feedback booths strategically located at dense areas to prompt citizens’ response. On the other hand, the People’s Association and its peer organizations will be utilizing virtual platforms to reach out for feedback. Click here for more information on how to submit your views.
Here are the key themes which will be discussed in the Budget 2021 are as follows:
- Adapting our way of life to be a Safe and Smart Nation
Healthcare system and digital adaptation top the list of key themes this year. Healthcare systems are invested and prioritized to contain the outbreak from spreading further. Digital access has been improved to help low-income students and less tech-savvy, particularly older people, become more comfortable adapting to technology.
- Emerging Stronger as an Economy
To lessen the COVID-19 impact, the Government has launched Emerging Stronger Taskforce (EST) to update economic roadmaps and new economic opportunities.
- Emerging Stronger as a Workforce
To support older workers, gig workers and low-wage workers, the Government doubled efforts to expand job, provide traineeship, training opportunities, and give schemes to help impacted citizens.
- Emerging Stronger as a Society and Community
The Government intends to ease the burden of those heavily affected by the COVID-19 outbreak by introducing measures in financial assistance such as vouchers, grants and monetary schemes. Apart from that, the Government intends to encourage philanthropy and volunteerism by introducing 250% tax reduction.
- Building a Green and Sustainable Future
Singapore has plans to make collaborations between the Government, community and businesses to foster a green-friendly environment. This initiative facilitates the sustainability agenda alongside an increased emphasis on tackling climate change and global warming.