Heng Swee Keat rounds up debate on Budget 2021

The Government must maintain a prudent fiscal strategy with a view to the long term, Deputy PM and Finance Minister Heng Swee Keat told Parliament on Friday (Feb 26). He urged MPs to make responsible choices and acknowledge upfront that more social spending will require more sustainable revenue, from taxes like the GST. Mr Heng also said if COVID-19 worsens, the Government may have to seek a further draw on past reserves to continue funding economic investments for recovery, but it would do its best to make good on the draw. He was rounding up a three-day debate on Budget 2021.