An action plan for Singapore’s shared future in a new reality

WHILE Budget 2024 indicated some bright spots ahead for Singapore, including improving economic growth and moderating inflation, Finance Minister Lawrence Wong underscored the need for the nation to contend with a new reality, marked by a “new era of conflict and confrontation”.

By setting the course for the Forward Singapore road map in this year’s speech, he drove home the need to plan for longer-term threats, including climate change and technological disruptions. This calls for innovative solutions to resource the country’s needs, while keeping taxes competitive and progressive.

Largely in line with our Budget recommendations, measures such as the Refundable Investment Credit (RIC) and Enterprise Support Package will help Singapore stay competitive and continue to attract investments.