For those of you who are concerned, or have a nugget to share regarding the nation’s budget, you should know that the next Budget Statement will be delivered on 18 February 2022.
Our Minister for Finance, Mr Lawrence Wong, is set to release the statement in Parliament.
Yup, that’s the first time Mr Wong would be addressing the nation about moolah since he took over the role from DPM Heng Swee Keat.
Budget 2022 Will be Delivered on 18 Feb by Mr Lawrence Wong
You can catch the live broadcast practically over any mainstream media be it TV, radio or the Singapore Budget website.
Real-time updates are also available for the internet-savvy via Facebook and Twitter.
If these are not enough, the Ministry of Finance (MOF) welcome the views and suggestions of fanatics through the government’s REACH’s Budget microsite or its e-Listening Points. Simply go to http://www.reach.gov.sg/budget2022. Do note that there is a cut-off date for submission by Monday, 17 January 2022.
For learned uncles and aunties who like to talk politics over coffee, the MOF has partnered the People’s Association (PA) in a virtual engagement platform
Details of this virtual platform can be found at www.go.gov.sg/shareyourviews2022.
The MOF welcome your views and suggestions relating to relevant issues for Budget 2022 through the following channels:
Singapore Budget Website: www.singaporebudget.gov.sg
REACH Budget Website: www.reach.gov.sg/budget2022
REACH Singapore Facebook: www.facebook.com/REACHSingapore
REACH Singapore Instagram: www.instagram.com/reachsg
PA Ask Kopi Kakis #shareyourviews Webpage: www.go.gov.sg/shareyourviews2022
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Why The Budget is Important
While many of us would think of angbaos or GST hike when it comes to the Singapore budget, you might be shocked to learn that the Budget has a very useful feature: it’s to recommend how Singapore would use its money for the entire year.
Kind of like financial planning.
Of course, after the Budget is proposed, it needs to be approved by Parliament, but in Singapore whereby most MPs are in the same party, the Budget is always approved, though it would still be debated for quite a while.
What Important Things Were Announced in Budget 2021
Over 10 months ago, during Budget 2021, three key things were announced:
- COVID-19 relief packages
- No GST increase in 2021
- Increase in petrol duty
Simply put, there were then two good news and one bad news.
Would Mr Wong be the bad guy who announce the GST increase?
Well.
Watch this video to the end to know more about GST:
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Featured Image: YouTube (CNA)