Tax & Spend
Singapore Is Poised to Ramp Up Spending Going Into Election Year
- Budget may swing back to deficit after a year of surplus
- Focus will be on living costs, productivity as trade war looms
Buildings in Singapore, on Feb. 17.
Photographer: Nicky Loh/BloombergThis article is for subscribers only.
Singapore is likely to boost spending in Lawrence Wong’s first budget as prime minister, offering more handouts to households and businesses ahead of election at a time of heightened global uncertainty and elevated costs at home.
Wong, who is also finance minister, is expected to focus on bringing down living costs and boosting social aid when he delivers a budget speech later on Tuesday. He will also likely detail measures to make workers and companies more competitive, as businesses bring onboard more artificial intelligence.