Budget 2020 offers chance to build enduring home base

Such a home base is one that offers shelter from storms and the right policy measures for the growth of individuals and businesses.

Published Mon, Feb 17, 2020 · 09:50 PM

fiscal policy

CRISIS and uncertain times test the true mettle of governments and the people. Singapore has proved itself in the past. Budget 2020 is a valuable opportunity for the nation to show the world it is and will remain the best home for Singaporeans, businesses at home and from afar, as well as global talent.

Budget 2019 underpinned the government's vision of positioning Singapore as the global-Asia node in its next phase of economic transformation. The country's aspirations have not and should not change.

Yet much has happened since then, including protests in Hong Kong, developments in the US-China trade war, unprecedented bushfires in Australia, Brexit and now, the outbreak of Covid-19.

When there is global geopolitical uncertainty and more, people and businesses need a base they know they can count on even more than ever. While it is hard for an open economy to stay insulated from the impact of such uncertainties, Singapore's smaller size makes the republic more agile in its response. It can provide a strong element of …