Jessica Tan on reviewing public finances to help Singaporeans
The world is facing unprecedented challenges and disruptions caused by geopolitical tensions and climate change and the uncertain outlook and slower economic growth are likely to be more prolonged than expected. This is why it is all the more important that measures Singapore takes to address these difficulties are sustainable. MP Jessica Tan said this in Parliament on Wednesday (Feb 7). She said the key is spending to support the current needs of Singaporeans while continuing to invest for future needs and growth. The reality, she said, is that funding comes from taxes, from how Singapore spends its past reserves and accumulates future reserves. So, adhering to the principles of not spending more than the revenue within each term of Government and protecting the past reserves will enable Singapore to achieve this balance.
The world is facing unprecedented challenges and disruptions caused by geopolitical tensions and climate change and the uncertain outlook and slower economic growth are likely to be more prolonged than expected. This is why it is all the more important that measures Singapore takes to address these difficulties are sustainable. MP Jessica Tan said this in Parliament on Wednesday (Feb 7). She said the key is spending to support the current needs of Singaporeans while continuing to invest for future needs and growth. The reality, she said, is that funding comes from taxes, from how Singapore spends its past reserves and accumulates future reserves. So, adhering to the principles of not spending more than the revenue within each term of Government and protecting the past reserves will enable Singapore to achieve this balance.
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