ST-UOB Budget roundtable to discuss initiatives for a sustainable future
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Budget 2022 will likely build the foundation for sustainable finances.
ST PHOTO: LIM YAOHUI
SINGAPORE - Next week's Budget will be put under the microscope at a roundtable discussion being organised by The Straits Times and UOB.
The discussion on Feb 21 will follow Finance Minister Lawrence Wong's Budget speech on Feb 18.
It will slice and dice the measures announced, which will help Singaporeans manage the cost of living, as well as provide support for the sectors that are still facing difficulties, noted Mr Wong on Feb 3.
The panel to be moderated by ST associate editor Vikram Khanna will comprise UOB economist Barnabas Gan, Singapore Business Federation chief executive Lam Yi Young, National Trades Union Congress assistant secretary-general Desmond Choo and Deloitte indirect tax and corporate secretarial services lead Richard Mackender.
Highlights will be broadcast on The Straits Times Budget 2022 microsite on Feb 24.
Mr Gan said in a report the Budget will likely build the foundation for sustainable finances.
"With Singapore well on the path towards an endemic Covid-19 environment, we expect the upcoming budget to shift its focus towards medium- to long-term goals in developing Singapore's competitiveness and strengthening social safety nets," he noted.
These may include revisiting top-ups to endowment and trust funds.
"Meanwhile, targeted policies to mitigate Covid-19-related risks may still be on the cards," Mr Gan added.
Themes that might appear in the Budget include building Singapore as a global-Asia node of technology and innovation, support for businesses, building a resilient revenue base, developing jobs and skills and creating a sustainable and green Singapore, his report said.
Meanwhile, Deloitte has called for tax measures to enable businesses to adapt to the changing landscape and to keep up with recent international tax developments.
Professional services firm KPMG also recommended measures that can help to grow a conducive environment for merger and acquisition activities and provide more support for unicorns - privately held start-ups valued over US$1 billion (S$1.3 billion) - to thrive.
