Budget 2023 debate: Tin Pei Ling on spending prudently and guarding Singapore's reserves

Budget 2023 is generous with measures that recognise and target the immediate challenges Singaporeans face, as well as the needs for Singapore's future, said MP Tin Pei Ling. Speaking in Parliament on Wednesday (Feb 22), she said against a challenging macro environment and competing needs domestically, she is glad that the Government will continue to uphold the practice of fiscal prudence and principles underpinning the protection of Singapore's reserves. She asked if Deputy Prime Minister and Finance Minister Lawrence Wong could give the commitment that the money taken out of Singapore's past reserves will be put back at the earliest opportunity. She believes it is necessary to draw on the reserves to help Singapore and Singaporeans get through difficult times. While it needs to spend enough to help Singaporeans with the immediate cost challenges, it has to use this "pot of gold" wisely so that future generations can continue to have this asset to fall back on when they face the "crisis of their generation", she said.