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Singapore Wealth Tax ‘Not So Easy,’ Prime Minister Lee Says

Lee Hsien Loong during an interview at the Bloomberg New Economy Forum in Singapore, on Nov. 17.
Lee Hsien Loong during an interview at the Bloomberg New Economy Forum in Singapore, on Nov. 17.Photographer: Bryan van der Beek/Bloomberg

Singapore’s prime minister said efforts to ease inequalities through wealth taxes face challenges including ensuring fairness and risks to the city-state’s competitiveness.

“We need to find a system of taxation which is progressive and which people will accept as fair,” Lee Hsien Loong said in an interview Wednesday evening with Bloomberg’s Editor-in-chief John Micklethwait at the Bloomberg New Economy Forum in Singapore.