Budget 2022 | The Straits Times

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Budget 2022

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Impact of Ukraine war will add to cost of living pressures in S'pore: Panel

One expert warned of "nefarious activities" by companies taking advantage of the global situation to engage in price gouging.

S'pore's future needs growing much faster than reserves: Wong

Debate on GST hike vs other ways to generate revenue misses the point: Lawrence Wong

Instead, the GST increase needs to be considered together with other options, he added.

Parliament approves $109b Budget after vigorous debate impacted by virus surge, Ukraine war

Some hotly debated topics included upcoming GST hike, as well as measures on foreign manpower.

Budget debate: Building blocks for a fairer, greener and more inclusive Singapore

Budget debates have provided some sign of the contours of a future society being shaped.

SMEs recovering from pandemic woes are focusing efforts on building resilience

Singapore SMEs can look forward to a vibrant future despite challenges ahead

SMEs risk becoming irrelevant if they do not go green

Views

Grace Ho

An education system to build confidence and cohesion amid stiff global competition

Ven Sreenivasan

Ven Sreenivasan

Budget 2022: Balanced and forward-looking for businesses

Expect more tax hikes on the rich in S'pore

Audrey Tan

Budget 2022 paves way for S’pore to move decisively to tackle climate crisis

Interactive

Singapore Budget 2022: Charting a new path forward

Dive deep into the budget estimates with this interactive breakdown of revenue and expenditure.

GST Hike

Lawrence Wong rebuts proposals by WP to raise revenue in lieu of GST hike

"We cannot just ignore consumption taxes and put the entire burden on income and wealth taxes," he said.

Govt must be mad to hike GST if alternatives are really so straightforward: MP Xie Yao Quan

PSP sees no need for GST hike, will not support Budget: Leong Mun Wai

Delayed GST hike a relief for businesses, with many already facing higher costs

Taxes

Tan See Leng, Pritam Singh clash over impact of WP tax proposals on S'pore society

MPs disagree over whether Singapore's new wealth taxes go far enough

New OECD tax for MNCs can boost revenue but non-tax incentives needed to keep S'pore attractive: MPs

Tax rates for residential properties to be raised, as Singapore adjusts wealth taxes

Higher personal income taxes for top 1.2% of taxpayers in S'pore

Support for firms

Some workers who don't meet $500 minimum income criterion may still receive Workfare

Minimum $500 pay to qualify for Workfare is not cutback for low-wage workers: Tan See Leng

Minimum income criterion for Workfare payouts will exclude Singaporeans who need them: MPs

Govt to co-fund pay increases of local lower-wage workers

Going Green

Call to explore hydrogen, nuclear power to diversify S'pore's energy mix

Dr Tan Wu Meng raised the idea of Singapore's potential as a hydrogen hub.

Carbon tax could increase to $80 per tonne of emissions by 2030

$35 billion in green bonds to be issued by 2030 to fund green public sector projects

Large emitters can buy carbon credits to offset carbon tax bill from 2024