Budget 2026 debate: Alex Yam on true fiscal responsibility
In a more complicated world where rules have become negotiable and great power politics have returned, Singapore - as a small, open economy - is among the first to feel the impact of trouble, said MP Alex Yam. In this situation, a budget surplus is not a luxury; it is insurance, he added. It means not having to borrow in haste, raise taxes suddenly or cut social support. At the same time, the Budget must not only be “macro-sound”, but “micro-relevant” to address people’s daily needs and concerns, said Mr Yam. He spoke in parliament on Tuesday (Feb 24).
In a more complicated world where rules have become negotiable and great power politics have returned, Singapore - as a small, open economy - is among the first to feel the impact of trouble, said MP Alex Yam. In this situation, a budget surplus is not a luxury; it is insurance, he added. It means not having to borrow in haste, raise taxes suddenly or cut social support. At the same time, the Budget must not only be “macro-sound”, but “micro-relevant” to address people’s daily needs and concerns, said Mr Yam. He spoke in parliament on Tuesday (Feb 24).
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