Budget 2025: Worth keeping the bigger fiscal picture in mind

THE debate on Singapore’s Budget begins today (Feb 26), with Members of Parliament (MPs) sharing their views on what was announced in last Tuesday’s speech and what more can be done. Even as they scrutinise specific policies, however, it is worth keeping broader issues in mind.

In this week’s debate, grouped measures such as the Large Families Scheme and SG60 Package may receive particular attention. The ensuing Committee of Supply debates on each ministry’s budget should also bring details – which can in turn be analysed – of schemes only briefly mentioned in the Budget statement. Concrete measures and policy goals – whether encouraging parenthood or attracting investment – are natural focal points for discussion. But even as they may rightly occupy the bulk of the Budget debate, there is room for a speech or two that reminds the House of the greater context.

One form of context, which the government itself may be eager to stress, is the Forward Singapore movement. Arising from a national engagement exercise, that policy agenda encapsulates the fourth-generation leadership’s vision for Singapore – and will presumably be central to the ruling party’s campaign in the upcoming general election.