Budget 2023 aims to reposition Singapore’s resilience for a new era

SINGAPORE’S Budget 2023 comes at a pivotal moment, as the country adapts to secure a promising future amid global challenges. The plans announced by Deputy Prime Minister and Minister for Finance Lawrence Wong will chart paths to create resilience for our continuing prosperity in a changing world.

Many of these measures are in line with KPMG’s recommendations for this year’s Budget, focused on areas including retooling our economy for resilience, doubling down on innovation for competitiveness, and providing continued focus on sustainability.

Crucially, this Budget also focuses strongly on strengthening Singapore’s social compact. The government is boosting social spending and enhancing social mobility, while maintaining a fair and efficient tax system.