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Singapore Budget 2019: Singapore to invest more to tackle climate change
THE Singapore government will apply a carbon tax on this year’s emissions and launch a Zero Waste masterplan in the second half of 2019, said Minister for Finance Heng Swee Keat on Monday.
This comes as Singapore is expected to invest more to protect itself against climate change and rising sea levels. “Together with existing infrastructure needs, our total bill for infrastructure will increase significantly,” he said.
“We will continue to do our best to look forward, develop fiscal plans well in advance, and put in place the right approach to finance such long-lived major infrastructure. Each generation should contribute a fair share.”
The carbon tax is an important signal to companies and households to reduce emissions and adopt energy-efficient practices, said Mr Heng.
As for the Zero Waste masterplan, it will review better management of food waste, e-waste, and packaging waste including plastics.
For all of our Singapore Budget 2019 coverage, news, analysis, and infographics visit bt.sg/budget19