Committee of Supply 2023 debate, Day 1: Foo Mee Har on enabling philanthropic impact
As Singapore anticipates a tighter fiscal space in years to come, there is scope for wealthy families, businesses and individuals to contribute meaningfully through philanthropy to the country’s rising needs, said MP Foo Mee Har in Parliament on Friday (Feb 24). And unlike a conventional system that relies heavily on taxation and redistribution, she said philanthropy has the added benefit of strengthening Singapore’s social compact. However, she noted that it is important to ask what types of philanthropy will have the greatest impact for Singapore. Two examples she touched on were fostering innovation and supporting climate mitigation and adaptation. Ms Foo asked the Government to consider how it can bolster support and public-private partnerships both here and overseas for philanthropic causes, and also promote more diverse ways of doing good.
As Singapore anticipates a tighter fiscal space in years to come, there is scope for wealthy families, businesses and individuals to contribute meaningfully through philanthropy to the country’s rising needs, said MP Foo Mee Har in Parliament on Friday (Feb 24). And unlike a conventional system that relies heavily on taxation and redistribution, she said philanthropy has the added benefit of strengthening Singapore’s social compact. However, she noted that it is important to ask what types of philanthropy will have the greatest impact for Singapore. Two examples she touched on were fostering innovation and supporting climate mitigation and adaptation. Ms Foo asked the Government to consider how it can bolster support and public-private partnerships both here and overseas for philanthropic causes, and also promote more diverse ways of doing good.
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