Budget 2026 debate: Yip Hon Weng on trust in fiscal strength
Fiscal resilience is strategic capability as it preserves Singapore’s strategic autonomy, said MP Yip Hon Weng. Given its current surplus position, perhaps it can signal stability by avoiding further tax increases in the near term, he said in parliament on Tuesday (Feb 24). Mr Yip noted that the government may need to raise revenue but stressed that revenue adjustments should be designed with cost pressures firmly in mind. Where space exists, it should be used to cushion households and strengthen trust. Trust must also underpin Singapore’s AI transition, he said. If Singapore gets it right, it will not merely adopt AI but will guide, shape and humanise it.
Fiscal resilience is strategic capability as it preserves Singapore’s strategic autonomy, said MP Yip Hon Weng. Given its current surplus position, perhaps it can signal stability by avoiding further tax increases in the near term, he said in parliament on Tuesday (Feb 24). Mr Yip noted that the government may need to raise revenue but stressed that revenue adjustments should be designed with cost pressures firmly in mind. Where space exists, it should be used to cushion households and strengthen trust. Trust must also underpin Singapore’s AI transition, he said. If Singapore gets it right, it will not merely adopt AI but will guide, shape and humanise it.
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