DPM Lawrence Wong to discuss workforce, taxes, housing prices at ST-BT Budget roundtable

The panel will discuss several announcements in the Feb 14 Budget statement. ST PHOTO: LIM YAOHUI

SINGAPORE - Deputy Prime Minister Lawrence Wong will speak about Singapore’s aim to create a more inclusive society and dynamic economy amid global headwinds, at a roundtable organised by The Straits Times and The Business Times on Monday.

This includes effective training for workers, how to share tax burdens equitably, and the current hot topic of housing prices.

The ST-BT Budget Roundtable 2023, which is sponsored by UOB, takes place on the day that Parliament wraps up the annual debates on the budgets of various ministries.

The panel features Mr Wong, who is also Finance Minister; UOB senior economist Alvin Liew; and National Trades Union Congress vice-president K. Thanaletchimi, who is also president of the Healthcare Services Employees’ Union.

They will discuss the social and economic challenges that the city-state faces in a post-Covid-19 era, and how to navigate them.

The Straits Times’ associate editor Vikram Khanna will moderate the session.

One issue to be tackled is how Singapore can bridge the medium-term gap between government revenue and expenditure, with FY2023 expected to run a $400 million fiscal deficit.

The panel will discuss several announcements in the Feb 14 Budget statement, such as the new Job-Skills Integrators initiative and how it can improve training scheme outcomes.

It will also look at equitable sharing of the tax burden, following Budget 2023’s higher taxes on tobacco, top-end housing and luxury cars; as well as rising housing prices and mortgage rates, which have been hotly debated in Parliament.

Other topics include further steps to take for social mobility; the benefits and disadvantages of financial assistance for retrenched workers; the future of tripartism; and how companies can achieve productivity-driven growth.

Watch the panel discussion at str.sg/budget2023 and read about it in The Straits Times and The Business Times later this week. THE BUSINESS TIMES

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