Budget 2020+: From Singapore to Singaporeans

BUDGETS take a long while to plan, and one can imagine that the Covid-19 outbreak in recent weeks must have added more measures (and anxiety) into its workings. Potentially, the outbreak could have created knee-jerk Budget responses. But this is Singapore - and this Budget is one of calm and confidence. It addresses the present situation with strength while keeping a keen eye on the future security of the country.

In the weeks leading up to the Budget, Singaporeans witnessed the nation's resilience in combating the challenges from Covid-19. Various targeted reliefs were extended to sectors that were hardest hit by Covid-19 - even before Budget Day. Expectations had mounted for relief measures akin to the 2003 Sars Relief package, which had helped companies through short-term cashflow needs. Others expected the Budget to be a generous Election Budget.

Deputy Prime Minister and Finance Minister Heng Swee Keat was swift in delivering the plans to deal with the current capricious crisis.