Controlling healthcare spend a fiscal challenge

CONTROLLING total healthcare spending is the key fiscal challenge of Singapore's future, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam yesterday as he wrapped up Parliament's debate on Budget 2014.

But even as the government takes on a larger share of the country's medical tab, the rise in expenditure must also translate into good healthcare outcomes, and must be done in a cost-effective way to prevent the total bill from spiralling upwards.

Said Mr Tharman: "To put the scale of things into perspective, the pioneer generation is 450,000 Singaporeans. The next generation, aged 45-64, is one million Singaporeans. And they will be entering into retirement 10-20 years from now . . . That is a very important challenge (that) we have to meet - how to provide quality care in an affordable way."