Finance Minister Lawrence Wong to deliver Singapore Budget on Feb 18

THE 2022 Budget Statement will be delivered in Parliament on Feb 18 next year by Finance Minister Lawrence Wong, the Ministry of Finance announced on Thursday (Dec 30).

This will be the first time Wong is delivering the Budget statement since he became Finance Minister at the last Cabinet reshuffle in May.

Among the issues that could feature at the Budget will be whether the government will review the country's system of wealth taxes, as well as details on the revised carbon tax rate for 2024.

At an event in October, Wong said that Singapore's revised carbon tax rate for 2024 will be announced at next year's Budget, which will also indicate what to expect up to 2030.

Anaylsts also expect the upcoming goods and services tax (GST) hike to be discussed at the Budget, including a more specific timeline on when it could be rolled out.

The government had previously said that it would be sticking to its plan to raise the GST - the third highest tax type after corporate income tax and individual income tax - by 2 percentage points to 9 per cent, at some point between 2022 and 2025.

The Budget statement will be broadcast live on television and radio, as well as online at www.singaporebudget.gov.sg.

The public can share their views and suggestions on the Budget at go.gov.sg/budget2022 and other channels until Jan 17.

Parliament will debate the Budget Statement about a week or so after it is delivered, with Wong then making a round-up speech to address queries and feedback from members of parliament.

Parliament then sits as a Committee of Supply to scrutinise the spending plans of each ministry over a roughly 2-week period.