SINGAPORE - The post-pandemic world is more dangerous and unpredictable, but Singapore will move forward with optimism and hope as the House unanimously voted on March 7 to support the Government’s $131.4 billion spending plan for the financial year ahead.

Pointing to extensive plans to keep the economy vibrant, while helping Singaporeans deal with immediate cost pressures, Leader of the House Indranee Rajah said Budget 2024 “gives life and breath to the plans in the Forward Singapore report that we, as Singaporeans, collectively developed to build our shared future together”.

This was the first time in three years that MPs on both sides of the aisle voted in support of the Budget – a point made by Speaker of Parliament Seah Kian Peng in his speech to cap off nine days of parliamentary debate on the Government and ministries’ budgets.

Opposition MPs had objected to the last two Budgets due to disagreement with the goods and services tax hike.

Ms Indranee noted in her closing remarks that preceding Budgets from 2020 to 2023 – including five in 2020 alone – were aimed at helping Singapore get through the Covid-19 pandemic.

Singapore emerged from the pandemic, but into a very different world from which it had entered, she noted, one with conflicts raging in Gaza and Ukraine, fraught with geopolitical contestation.

At the individual level, Singaporeans remain concerned about cost of living and inflationary pressures.

“Against this backdrop, Budget 2024 provides a clear action plan to take Singapore forward into the future with optimism and hope,” said Ms Indranee, who is also Second Minister for Finance.

She recapped some key initiatives announced in Budget 2024, which include additional CDC vouchers for all Singaporean households and a generous corporate income tax rebate.

Enhancements to the SkillsFuture scheme for mid-career workers express belief and confidence in Singaporean workers, and their ability to upskill and chart new directions even at a later age, she added.

She also reiterated that families are the bedrock of society, and the Government’s commitment to support them from young to old, such as through lower pre-school fees, more caregiving options, and boosts to retirement adequacy.

Other moves, such as to expand ComLink+ and legal aid, further strengthen Singapore’s social compact by providing more support to those who need it the most, she said.

“Inclusivity is the glue on which unity is built. By building on the previous Budgets and having something for everyone, Budget 2024 ensures that no one is left behind,” she said.

The 2024 debate on the Budget statement saw 61 MPs speak across 2½ days. Over the next seven days, MPs made 598 cuts – short speeches – on various ministries’ budgets.

The Ministry of Culture, Community and Youth had the most cuts in 2024, with 57 filed.

Recalling that the Feb 14 Budget in 2023 was remembered as a Valentine’s Day Budget with its slew of family-oriented measures, Ms Indranee pointed out that the 2024 Budget was delivered on Feb 16 – “ren ri”, or everybody’s birthday, as the seventh day of Chinese New Year is marked.

“This is fortuitous since Budget 2024 is a Budget that has something for everyone, so everyone got a birthday present,” she said.

It will also help to build a Singapore that is vibrant and inclusive, fair and thriving, resilient and united, she noted, in a callback to the themes of the Forward Singapore report that was unveiled in October 2023.

Rounding up, Mr Seah noted that the number of cuts had dropped in 2024’s debate compared with the 661 filed in 2023, though the number of MPs who rose to speak increased from 50 to 61.

This was the first time in six years that MPs had filed fewer cuts compared with the preceding year, he said.

This is partly due to the fact that there are fewer Members in the House in 2024, he added. In 2023, the House saw resignations from five MPs for various reasons.

Another statistic Mr Seah mentioned in his maiden round-up speech as Speaker was the Republic’s total fertility rate, which fell below one for the first time in 2023.

“Singaporeans are very special to all of us and our Budget reflects that. From birth to old age, we are spending more than ever on each one,” he said.

As a father of two, Mr Seah said he hopes more young Singaporeans will have the privilege to experience the joy of being parents.

Acknowledging across-the-aisle support for the Budget, he said that all MPs want to build a Singapore for all, and for all Singaporeans.

As a small country, Singapore cannot do much to remake the world so that it is neater and more predictable. Nor should it want to, he said.

“To thrive in this new world, Singapore cannot aim to be a mere safe space. We must, as our forefathers have always done, take risks, accept failure and rise again and say ‘majulah’ (onward),” he said.

“And, in this, Singapore is a beautiful home and safe harbour, where we will help each other along when we are down.”

Correction note: This story has been updated for accuracy.