Budget 2022 debate: Foo Mee Har on Singapore as philanthropic hub
Budget 2022 takes decisive steps towards strengthening Singapore's social compact, said MP Foo Mee Har. Speaking in Parliament on Monday (Feb 28), she highlighted the need to get the wealthy to do more for society. Instead of depending so heavily on taxes to redistribute wealth, tap on the strong spirit of giving amongst wealthy families, she said. She pointed out that more wealthy individuals are engaging in philanthropy. Singapore should enhance its philanthropic policy framework to accommodate new and more sophisticated forms of giving. She said wealthy families aspire to make significant contributions beyond plain "chequebook" giving. They want their gifts to be transformational. Ms Foo said Singapore should aspire to be a philanthropic hub and a pillar of excellence alongside its hub status for finance and sustainability. She also wanted to know how the Government will respond to the crisis in Ukraine.
Budget 2022 takes decisive steps towards strengthening Singapore's social compact, said MP Foo Mee Har. Speaking in Parliament on Monday (Feb 28), she highlighted the need to get the wealthy to do more for society. Instead of depending so heavily on taxes to redistribute wealth, tap on the strong spirit of giving amongst wealthy families, she said. She pointed out that more wealthy individuals are engaging in philanthropy. Singapore should enhance its philanthropic policy framework to accommodate new and more sophisticated forms of giving. She said wealthy families aspire to make significant contributions beyond plain "chequebook" giving. They want their gifts to be transformational. Ms Foo said Singapore should aspire to be a philanthropic hub and a pillar of excellence alongside its hub status for finance and sustainability. She also wanted to know how the Government will respond to the crisis in Ukraine.
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