Budget 2018
Every year, the government presents and debates its Budget in Parliament.
But do you actually know what the Singapore Budget is about, and understand its importance to the country, and how it can affect your life?
What is the Budget for?
The Singapore Budget is prepared for each financial year, which begins on 1 April of every calendar year and ends on 31 March of the next calendar year.
The Budget includes the revised Government revenue and expenditure projections for the current financial year, as well as the planned Government revenue and expenditure for the upcoming financial year.
A Balanced Budget
The Singapore Government is required under the Constitution to keep to a balanced budget over each term of the elected Government. Unlike many other countries, Singapore does not borrow money to fund government expenditure, and the Singapore Government does not have any external debt.
This practice of fiscal discipline ensures that the government funds can be put into good use for Singapore’s development in all sectors.
Here’s an extract of what the 2018 Budget has in store for Singaporeans. (Click here for the full summary.)
First, the bad news. GST will be increased.
Thankfully, the rest from here on is not too bad.
The SG Bonus was announced in Budget 2018 to share the fruits of Singapore’s development with all Singaporeans.
But do you actually know what the Singapore Budget is about, and understand its importance to the country, and how it can affect your life?
Here is mrbrown’s tongue-in-cheek take of the Singapore Budget via his
altered ego Kim Huat. Lol
What is the Budget for?
The Singapore Budget is prepared for each financial year, which begins on 1 April of every calendar year and ends on 31 March of the next calendar year.
The Budget includes the revised Government revenue and expenditure projections for the current financial year, as well as the planned Government revenue and expenditure for the upcoming financial year.
A Balanced Budget
The Singapore Government is required under the Constitution to keep to a balanced budget over each term of the elected Government. Unlike many other countries, Singapore does not borrow money to fund government expenditure, and the Singapore Government does not have any external debt.
This practice of fiscal discipline ensures that the government funds can be put into good use for Singapore’s development in all sectors.
Here’s an extract of what the 2018 Budget has in store for Singaporeans. (Click here for the full summary.)
First, the bad news. GST will be increased.
Thankfully, the rest from here on is not too bad.
The SG Bonus was announced in Budget 2018 to share the fruits of Singapore’s development with all Singaporeans.
Here is the video of the full Budget Statement speech which was delivered in Parliament.
Minister for Finance, Mr Heng Swee Keat, delivered the FY2018 Budget Statement on 19 Feb 2018.
Budget in Brief: TheBudget in Brief provides you with an at-a-glance summary of the key measurespresented in Budget 2018.
SG Bonus: The SGBonus was announced in Budget 2018 to share the fruits of Singapore’sdevelopment with all Singaporeans.
Your Feedback on Budget 2018: Click here to go to the Govt's Feedback website for Budget 2018
