Significant policy shifts in Budget 2024; 24 more steps on road ahead: DPM Wong

Budget rolls out first instalment of Forward S’pore agenda, he says at panel discussion

Beyond tackling immediate concerns, Budget 2024 makes significant policy shifts to better position Singapore for the future, said Deputy Prime Minister Lawrence Wong.

These include measures aimed at achieving better growth and jobs, and to equip workers for life through a very significant enhancement to SkillsFuture, he said.

Speaking during an hour-long panel discussion on the Budget, DPM Wong, who is also Finance Minister, reiterated that Budget 2024 rolls out the first instalment of the Forward Singapore agenda.

"There will be more to come, because you can't do everything in one Budget. But we will continue to fine-tune, review and update our plans," he said.

The recording was aired on local broadcaster CNA on Feb 21. DPM Wong recapped plans he had laid out in his Feb 16 speech that included more CDC vouchers, cash payouts for the lower- and middle-income groups, as well as a corporate income tax rebate for businesses.

He also touched on the moves to strengthen safety nets and give greater assurance to families and seniors in areas such as housing, retirement and healthcare.

Many of these initiatives were signposted earlier in the Forward Singapore report released in October 2023.

The panel included Nominated MP Abdul Samad Abdul Wahab, who is vice-president of the National Trades Union Congress; Singapore Management University sociology professor Paulin Straughan; and married couple and entrepreneurs May Leena Krishnan and Jeevan Ananthan, who have a two-year-old daughter.

Ms Katherine Chua, a single mother of five, was also interviewed in a pre-recorded segment on the topic of upskilling, as she had enrolled in part-time courses while working as an executive secretary.

DPM Wong said Budget 2024 comes as dramatic changes are happening around the world, and Singapore is entering a new era that will be marked by conflict and confrontation.