Budget 2026 debate: Xie Yao Quan on 'fiscal marksmanship' for the long term
Can the revenue mix in Budget 2026 be sustained? Can it become a viable blueprint for fiscal security in subsequent budgets? That is the key question when it comes to "fiscal marksmanship", said MP Xie Yao Quan. Speaking in parliament on Wednesday (Feb 25), he said that Singapore’s fundamental mission is about raising revenues structurally to around 19.5 per cent of GDP by 2030 to meet the country’s long-term spending needs. “It is fiscal marksmanship not year to year, but over many years,” he said, adding that raising the Goods and Services Tax has been essential in helping the country achieve fiscal marksmanship for the long term.
Can the revenue mix in Budget 2026 be sustained? Can it become a viable blueprint for fiscal security in subsequent budgets? That is the key question when it comes to "fiscal marksmanship", said MP Xie Yao Quan. Speaking in parliament on Wednesday (Feb 25), he said that Singapore’s fundamental mission is about raising revenues structurally to around 19.5 per cent of GDP by 2030 to meet the country’s long-term spending needs. “It is fiscal marksmanship not year to year, but over many years,” he said, adding that raising the Goods and Services Tax has been essential in helping the country achieve fiscal marksmanship for the long term.
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