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Singapore appointed 2 idiots to lead the task force.

from straitstimes.com:

From the Gallery​

No monopoly on good ideas in Parliament, but some gaps and questions remain​

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Grace Ho
Deputy News Editor
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Some MPs raised issues in Parliament that may be less high-profile but no less vexing, such as those faced by single unwed mothers and their children. ST PHOTO: ALPHONSUS CHERN
UPDATED

7 HOURS AGO

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After covering Parliament for some time, I’ve come to realise it can sometimes seem to be a case of “he said, she said”, when it comes to who seeded an idea that eventually became policy. When someone claims credit for a good idea, others may disagree.
On the second day of the Budget debate on Thursday, Workers’ Party MP Jamus Lim (Sengkang GRC) said he had suggested in 2022 that the Government beef up the goods and services tax voucher (GSTV) scheme. He had argued then that the duration of offsets would be eroded by inflation.
That’s fair enough, if one assumes the offsets are immutable.

But I’m not so sure about his assertion that the latest Budget announcement to increase the permanent voucher scheme, “restores the Government’s original promise” of the number of offset years – given that the promise was never broken to begin with.
It had already been announced in Budget 2022 that the permanent GSTV scheme would be enhanced to provide continuing offsets for the GST expenses of lower- to middle-income households, and most retiree households, beyond the transitional period covered by the Assurance Package.
The Government never closed the door on future enhancements.

Take this quote from Deputy Prime Minister and Finance Minister Lawrence Wong in Parliament in July 2022: “We will continue to assess the adequacy of the Assurance Package as the inflationary outlook evolves. If need be, we will further enhance the Assurance Package to uphold our commitment.”

In October 2022, in conjunction with the announcement of an additional $1.5 billion support package, Mr Wong also said there would be an update to the Assurance Package to take into account higher than expected inflation.
Well, that has come to pass, with various payouts upped in this year’s Budget.
Ditto for the wealth and sin taxes Associate Professor Lim proposed as alternative revenue levers in his speech on the 2022 Budget statement, which he mentioned again on Thursday.

It’s not just opposition politicians who have made such proposals in the past.
In 2020, for example, Ms Foo Mee Har (West Coast GRC) had asked if the Government would consider introducing wealth taxes and bringing back the once-removed estate duty, as a better way to raise revenue to deal with rising expenditures such as healthcare costs and build a fairer society.
She had also highlighted Singapore’s other advantages, such as the rule of law and stability, that would grant wealthy individuals peace of mind even if wealth taxes were introduced.
But leaving aside the issue of who is the first mover – and without downplaying the hot-button topics of employment, business needs, climate change, and housing – some members raised issues that may be less high-profile but no less vexing.

Nominated MP Shahira Abdullah said that inadvertent structural roadblocks in Singapore society can penalise not just unwed single mothers, but also their children.
In order to continue availing themselves of state incentives which are geared towards married women, these mothers may find it impossible to walk away from bad or abusive relationships. It can affect how their children – the next generation of Singaporeans – live and grow, she noted.
She also urged employers to adopt a strong pro-family work culture, where flexible work arrangements are the norm.
“Let’s not wait for incentives and legislation from the Government,” she said. “We can all do our part.”
Likewise, Ms He Ting Ru (Sengkang GRC) observed that most single, unmarried mothers, given a choice, would hope to be part of a stable, fulfilled marriage.
“Yet, in our haste to ward off the hex of ‘encouraging single parenthood’, we appear to either be punishing innocent children born to unmarried mothers, or encouraging hasty, possibly unsuitable marriages. This may lead to further difficulties down the line,” she said.
Mr Leon Perera (Aljunied GRC) suggested making pre-school education compulsory and completely free for the children of those with lower incomes, while Ms Mariam Jaafar (Sembawang GRC) called for more support for former offenders, and boosting Singaporeans’ financial capabilities so they do not end up in debt in the first place.

Mr Don Wee (Chua Chu Kang GRC) sought funding to develop more specialised programmes for students with different disabilities.
He also urged more community organisations and businesses to create internship and work opportunities for these students, which will improve their chances of finding employment after graduation.
While more employers today have hired persons with disabilities, there is still a lack of awareness of the government support available – such as the Open Door Programme which provides grants and employment services; or the Enabling Employment Credit, a wage offset scheme to support the employment of those with disabilities.
Or are some workplaces simply uncomfortable with having persons with disabilities in their midst?
Acknowledging such remaining hurdles, Mr Wee said it’s not just about meeting manpower requirements, but also enabling co-workers to develop a sense of empathy and kindness.
“It is a whole-of-society effort, and it involves the Government, employers and employees, sometimes family members too, to play a part in making workplaces inclusive for persons with disabilities.”
 
Lawrence had a discussion with Singaporeans. :wink:

Lawrence Wong

1 d ·
Throwback to our discussion at the CNA “Ask the Finance Minister Forum” with Singaporeans from different walks of life.
We discussed various topics such as creating more opportunities for everyone, building skills for the future, helping businesses be more competitive, and supporting our vulnerable.
These are important areas we need to focus on, to help Singaporeans thrive in a more uncertain world.
Catch our discussion here:
#SingaporeBudget2023
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Lawrence participated in the 1st G20 India Finance Ministers and Central Bank Governors Meeting virtually. :thumbsup:

Lawrence Wong

1 d ·
Participated in the 1st G20 India Finance Ministers and Central Bank Governors Meeting virtually as I was in Parliament for the Budget Debate yesterday.
This takes place just 4 days after Prime Minister Narendra Modi and Prime Minister Lee Hsien Loong witnessed the launch of the real-time retail payment systems linkage between Singapore’s PayNow and India’s UPI.
I spoke on the need to strengthen multilateralism to tackle increasingly complex global issues. This includes reinvigorating multilateral institutions; strengthening global health security; as well as ensuring a well-functioning international tax system.
I am confident that with India's strong leadership of the G20, we will be able to face our collective challenges as #OneEarthOneFamilyOneFuture. #VasudhaivaKutumbakam
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Lawrence urges all our local businesses to take advantage of our support schemes. :barefoot:

Lawrence Wong

1 d ·
At the 新加坡中华总商会 SCCCI 110th anniversary in 2016, PM Lee Hsien Loong had given them a plaque,《聚商惠民》— meaning “Uniting businesses, Benefiting people”.
At my session with them this morning, I am glad to see the chambers continuing to represent our local businesses' interests and highlighting opportunities, ultimately benefiting our people.
In our #SGBudget2023, we have made moves to grow our economy and develop our businesses, while also empowering our workers.
I urge all our local businesses to take advantage of our support schemes — to innovate, increase productivity, seize opportunities abroad and build inclusive workplaces. This will help you grow and be resilient in a more challenging future.
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from straitstimes.com:

Budget 2023 a delicate balancing act amid tight fiscal position: DPM Wong​

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Balance was a key theme of DPM Lawrence Wong's Budget debate round-up speech on Friday. PHOTO: GOV.SG
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Goh Yan Han
Political Correspondent
UPDATED

25 FEB 2023, 12:20 AM SGT

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SINGAPORE – Budget 2023 has been a delicate balancing act to find the sweet spot amid a tight fiscal position and competing demands, Deputy Prime Minister Lawrence Wong said on Friday.
Balance was a key theme of his speech: Between more taxes and more handouts; between various priorities of the day, as “the Budget cannot cover everything”; and between increasing corporate taxes and maintaining competitiveness, among other things.
He explained in Parliament how the Finance Ministry planned to balance the Government’s books, while responding to MPs who had called for more cost-of-living support or more help for certain groups or areas.

“So, we enhanced our parenthood and family-related schemes in this Budget. Next time, we will look at other schemes, so everyone will get a chance,” said Mr Wong, adding that every Singaporean still stands to benefit from the Budget.
In his round-up speech, he addressed questions raised by 58 MPs over three days of debate, which revolved around whether the Government was taking too much and giving back too little, if it was doing enough to stay competitive and help businesses and workers, and if it was doing enough to help Singaporeans and households in need.
“We want to get back to a more sustainable fiscal position, but we cannot taper down support too quickly because the economic outlook remains uncertain,” he said.

“The Government remains very focused on advancing the well-being of the broad middle of society,” added Mr Wong, who is also Finance Minister.

The middle-income group in Singapore pay less taxes than their counterparts in other advanced societies like the United States and Britain, and also receive more in benefits than they pay in taxes, he added. He noted that Singapore’s tax to gross domestic product ratio, at 14 per cent, is considerably lower than in most other advanced economies.
“Compared to citizens elsewhere, Singaporeans pay much less in taxes and yet are able to enjoy high quality public services. At the same time, this low tax burden rewards hard work and enterprise, and allows our people and businesses to keep most of what they earn,” he said in a 90-minute speech wrapping up the Budget debate.
The House on Friday endorsed the $123.7 billion Budget, which had included a suite of measures to support parents and families, as well as financial support measures to combat the rising cost of living and inflation.

Mr Wong noted that Singapore’s tight fiscal position is very much a reality over the medium term.
“That is why we have to proceed with the second step of the increase in goods and services tax (GST) in 2024 as planned. Deferring this will only store up more problems for the future and will leave us with less resources to take care of our growing number of seniors,” he said.
The GST rate increased from 7 per cent to 8 per cent on Jan 1, 2023, and is slated to rise another percentage point to 9 per cent on Jan 1, 2024.


Mr Wong said that while the Government wants to help Singaporeans tackle cost-of-living pressures, it must be careful not to inadvertently generate more demand and worsen inflation.
Acknowledging that many MPs have made good suggestions and that there may well be very good reasons for more government intervention, Mr Wong said all of that means additional spending.
Additional spending will then need to be anchored by a fiscal plan that is sound, sustainable and fair, he said.
Mr Wong said he wanted to set the record straight on economic growth. Singapore remains focused on growing the economic pie and has not moved from a pro-growth to a pro-redistribution approach.
“Only then can Singaporeans build better lives for themselves and their families, and only then will we have the resources we need to redistribute, strengthen our social compact and progress as one people,” he said.


But given the more challenging external environment, Singapore has to redouble its efforts, build more capabilities and work hard to be more competitive and anchor more quality investments.
At the same time, it cannot “score own goals, do moves that will price ourselves out”, he said, addressing calls from Workers’ Party MP Louis Chua (Sengkang GRC) and Non-Constituency MP Hazel Poa to increase taxes for multinational corporations.
Mr Wong said multinational corporations here are not stuck in Singapore permanently and have cheaper or more inviting options for them to be headquartered elsewhere.
He said: “Many members in this House now are concerned that we are not sufficiently focused on growth, that if we are faced with a shrinking pie, contentious disputes over how to distribute limited resources will be inevitable, which can be very socially divisive, as we have seen in many other countries.
“But sir, in fact, we have always taken a balanced approach in our economic development and strategies. Our focus has always been to grow the economy, not for its own sake, but as a means to improving the well-being and the lives of everyone in Singapore.”

Mr Wong also spoke about Budget 2023’s additional support for groups that are facing difficulties, such as lower-wage workers and lower-income households with young children, in response to MPs who had raised the issues of inequality and social mobility.
He noted that Singapore had long recognised the problems with an unbridled winner-takes-all style of meritocracy that WP MP Leon Perera (Aljunied GRC) spoke about, which is why it had set out to achieve a more open and inclusive meritocracy more than a decade ago.
“We are actively working on all fronts to minimise social barriers and encourage mobility, because this is what Singapore has always been about, and must continue to be,” he said.
Mr Wong also spoke on the need to ensure that the reserves are well protected, but added that the Government is unlikely to return the $40 billion that it took out during the Covid-19 pandemic due to the tight fiscal position.
He said Singapore has to consider the major risks that it may face – war, pandemics and climate challenges – and should not “blithely spend more from the reserves”, which he said members of the opposition had proposed.
“Let’s maintain a strong fiscal foundation so that Singapore can continue to prosper and thrive for many more years in this troubled world,” he said.
 
from straitstimes.com:

Claims that middle-income Singaporeans are overtaxed an outright falsehood, says DPM Wong​

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Compared to other advanced economies such as the US and UK, Singapore’s tax burden is significantly lower, said DPM Lawrence Wong. PHOTO: ST FILE
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Tham Yuen-C
Senior Political Correspondent
UPDATED

25 FEB 2023, 8:05 AM SGT

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SINGAPORE - Compared with citizens elsewhere, Singaporeans pay much less in taxes and yet are able to enjoy high-quality public services, Deputy Prime Minister and Finance Minister Lawrence Wong said on Friday, as he debunked claims that middle-income Singaporeans are overtaxed.
The impact of the Budget on the middle-income had come up during the Budget debate, with MPs from both sides of the aisle asking for more help for the sandwiched class, who have to care for both young children and elderly parents.
In response, Mr Wong cited figures to show that for households in the middle quintile, taking into account their total taxes paid – not just personal income tax, but other indirect taxes as well – the effective tax burden is around 10 per cent of income.

Compared with other advanced economies – using estimates for the United States, United Kingdom and Finland based on publicly available data – the Republic’s tax burden is significantly lower than that of these countries, said Mr Wong.
During the Budget debate on Wednesday, Progress Singapore Party Non-Constituency MP Leong Mun Wai said that middle-class Singaporeans are overtaxed relative to their income, as they pay a wide range of indirect taxes, such as the goods and services tax (GST) and the certificate of entitlement.
“I think the facts and figures speak for themselves,” said Mr Wong. “What Mr Leong said is an outright falsehood.”

Among advanced economies, Singapore is also one of the few economies in which people in the middle have enjoyed significant increases in real incomes in the last 20 years, said Mr Wong.

Median household real income growth here over the last decade was 3.2 per cent per annum, higher than that in the US and most other European societies, and also above that in other Asian societies like Japan and Hong Kong.
“So, we will continue to do everything we can to help our broad middle raise their standards of living, and support them in meeting their aspirations,” Mr Wong said.
He stressed that one should not just look at the individual schemes and changes, but also focus on the overall taxes and benefits for the middle-income.

Here again, he pointed out, it is clear that the middle-income overall still receive more in benefits than the taxes they pay.
In particular, for the middle 20 per cent, the amount of benefits they received was about twice the amount they paid in taxes.
This compares favourably with other jurisdictions like the UK and Finland, where the middle quintile received around $1.25 of benefits for every dollar of tax they paid, compared with Singapore’s ratio of two to one.
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Even the upper-middle-income groups, or those in the 61st to 80th percentile, received about the same or slightly more in benefits compared with what they paid in taxes.
“They may not get as much in direct cash benefits compared to the lower-income groups, but they enjoy access to affordable housing, healthcare and world-class education,” said Mr Wong.
He added that the overall tax burden on Singaporeans, at 14 per cent of gross domestic product, is also lower than in most other advanced economies, and this is after factoring in the tax changes in this year and last year’s Budgets, including the full GST increase.
“In other words, compared to citizens elsewhere, Singaporeans pay much less in taxes and yet are able to enjoy high-quality public services. At the same time, this low tax burden rewards hard work and enterprise, and allows our people and businesses to keep most of what they earn,” he said.
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Working Mother’s Child Relief: Situation has changed​

MPs had also questioned the Government’s decision to change the Working Mother’s Child Relief (WMCR) from a percentage to a fixed dollar relief, with some like Ms Jessica Tan (East Coast GRC) and Mr Dennis Tan (Hougang) raising concerns about the impact on the middle-income groups.
Responding to them, Mr Wong said that when the scheme was introduced, it was intended to encourage married women, especially the higher-income ones, to have children and continue working.
At that time, higher-income married women had fewer children on average.
“And that was why the incentive was weighted towards this income bracket,” he said.
“But from our experience over the years, young couples in this income group typically base their decisions to have children on other factors, and not so much on the WMCR incentive.

Furthermore, the situation has now changed. Fertility has been declining across all income segments, and we need to encourage couples in all income groups to have more children.”
This, he added, is why the Government decided to change the basis of the WMCR. “With the fixed dollar relief, we focus instead on providing support for children, regardless of the mother’s income. And effectively, we are tilting the help towards those with greater needs.”
Mr Wong said the WMCR changes should not be seen in isolation, and are part of a package of moves to support marriage and parenthood in this and previous Budgets.
This includes the enhancements to the Baby Bonus Scheme and the increase in parental leave provisions, all of which will benefit young couples, including higher-income couples, as they embark on their parenthood journey.
 
Lawrence thanks all public officers and colleagues for their contributions. :thumbsup:

Lawrence Wong

1 h ·
It has been a very busy week for many of us — our public officers, Parliamentary colleagues, MPs, and the teams at Parliament of Singapore, and Ministry of Finance (Singapore).
The Committee of Supply debate started right after my Budget round-up speech last Friday. Ministries shared their funding proposals and MPs also raised their views and suggestions.
New challenges will come our way, but we can overcome them and move forward together — towards a place where we value one another, support each other, and uphold our sense of shared identity amidst a more turbulent and uncertain world.
The COS debate will conclude soon. I thank all public officers and colleagues for your contributions. The wrapping up of the debate is just the beginning of the hard work and long journey ahead of us. We will strive forward together, to realise a fairer and more inclusive home for all.

 
Lawrence did a recording in Mandarin. :wink:

Lawrence Wong

11 h ·
Did a recording for a Budget dialogue in Mandarin at MediaCorp earlier this week. It’s always challenging for me to discuss the Budget in mandarin, and especially to get all the technical terms right. But it’s an opportunity for me to learn and improve, and also to engage a wider group of Singaporeans, and help them know more about the Budget. Do tune in to our discussion tomorrow at 9pm on Channel 8!
我最近参与了许多和财政预算案相关的活动,Mediacorp 热点的《预算案大家谈》是我今年上的第一个华语节目。用华语交谈对我来说更具挑战性,因为我需要更多时间做准备,尤其是在掌握新术语方面。但是,这是加强母语的大好机会,而如果能让大家进一步了解财政预算案,这绝对是值得的。
董素华 Tung Soo Hua #SGBudget2023
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Lawrence was happy to join the People's Action Party women’s wing to mark International Women’s Day. :wink:

Lawrence Wong

3 d · Instagram ·
Women have played an outsized role in Singapore's history. And I was happy to join the People's Action Party women’s wing to mark International Women’s Day and to recognise the achievements of our women.
We are taking action to further recognise and support women, and help them fulfil their aspirations. In #SGBudget2023, I have announced a doubling of paternity leave. We also have rolled out an enhanced Home Caregiving Grant, to recognise the contributions of caregivers. And we will soon introduce legislation on workplace fairness, which will provide women the assurance that discrimination in the workplace will not be tolerated.
There is still much more to be done. Working together, I'm confident we can build a Singapore where all women can live life to the fullest, in a fairer and more inclusive society.
#PAPWW #IWD2023 #ForwardSG #PAP4SG
Sim Ann 沈颖 Sun Xueling Hany Soh

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