Budget 2026: Where to get live updates on PM Lawrence Wong’s speech
In a video, PM Wong said that Singaporeans may expect more job-related support from the government
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[SINGAPORE] Prime Minister Lawrence Wong will deliver Singapore’s Budget 2026 statement on Thursday (Feb 12) at 3.30 pm in Parliament.
The Business Times will provide live coverage of Budget 2026 on its Budget live blog and Budget microsite.
In a video released Wednesday, PM Wong said that Singaporeans may expect more jobs-related support from the government. More details on the plans will be shared in the upcoming Budget statement, he said.
In the video, PM Wong acknowledged Singaporeans’ concerns about securing jobs amid rapid technological change and an uncertain external environment.
“Given the rapid changes in technology and workplaces, I think people will have more career transitions,” said PM Wong, adding that such transitions could be moves within the same company, from one specialisation to another, or moving to a different industry altogether.
To help Singaporeans cope with such changes, the government will do more in terms of managing job transitions, equipping workers with skills to stay competitive and ensuring access to good jobs with rising income, PM Wong said.
“Work will change and evolve, and we need to help Singaporeans continually upgrade themselves to stay relevant,” he said.
The prime minister noted that the mindset of lifelong learning is catching on gradually, with more people starting to make use of their SkillsFuture credits.
PM Wong, who is also finance minister, is expected to speak about themes such as advancing the economy, securing good jobs and strengthening social support.
He is also expected to address Singaporeans’ aspirations and concerns about an “uncertain external environment”, including the impact of technology and artificial intelligence (AI) on jobs, as well as rising cost pressures.
Budget 2026 will be PM Wong’s second Budget as prime minister and comes ahead of the completion of a review of Singapore’s economic strategy, set to complete by mid-year.
The Economic Strategy Review by the fourth-generation government had earlier on in a January midterm update outlined recommendations for Singapore’s economy – these included prioritising lifelong learning, building Singapore’s AI leadership and expanding the range of good jobs, among others.
Industry voices have also expressed hope that Budget 2026 will address topics including additional buyer’s stamp duty for foreign buyers, competition between local and foreign retailers, regulation of rent for food and beverage retailers, and tax relief measures for sandwiched working mums.
To help them navigate macroeconomic uncertainty, firms may expect assistance from Budget 2026 to come in more targeted forms rather than broad-based measures, said observers.
Long-term issues such as climate change and ageing could also be addressed at Budget 2026, given that an election is unlikely for the next five years or so, observers also said.
For more of BT’s Budget 2026 coverage, go to bt.sg/budget26
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