It’s time to mark your calendars because it’s that time of the year again…
No, I don’t mean Valentine’s Day, for those that are panicking about what to buy their significant others and fussing over the ridiculous increase in flower prices.
At 3:30pm on 18 February, Minister for Finance Lawrence Wong will be delivering Singapore’s Budget 2022 statement.
This will be his first appearance as the Minister for Finance after taking over the portfolio from Deputy Prime Minister Heng Swee Keat in April.
Coverage of the 2022 Budget
The Straits Times will be offering a live coverage of the budget, as they usually do, while it is being delivered live in Parliament.
There will also be television and radio coverage, with a sign language interpreter provided by the Singapore Association for the Deaf, to ensure that even the handicapped are able to receive the news in a timely fashion.
The full statement will be released on the Singapore Budget website after the live speech ends, and the crucial points of the speech will be available for further viewing on the Ministry of Finance (MOF)’s website.
If you would like to receive the full statement or be reminded of it, you can sign up to receive the full statement via e-mail on the MOF website by 2pmon 18 February.
I don’t know why anyone would do that, but it’s an option.
Additionally, members of the public can submit their opinions concerning the 2022 Budget on the Budget website, the Reach website, or the Reach’s social media platform.
Reach is a feedback and engagement group under the Ministry of Communications and Information, who are continuing to diversify the news of the Budget by holding two virtual Budget conversations, one in English and other Mandarin, which will be held on 24 Feb and 26 Feb respectively.
What about Malay and Hindu versions? Singapore has four official languages!
In any case, the English session will be hosted by Minister in the Prime Minister’s Office and Second Minister for Finance and National Development Indranee Rajah, while the Chinese session will be held by Minister for Communications and Information and Second Minister for Home Affairs Josephine Teo.
Naturally, figures like the Minister of State for Communication and Information and National Development and chairman of Reach, Mr Tan Kiat How, will be attending both sessions.
… Jeez, they really have a lot of titles and positions.
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Possible Topics on the Agenda
For the 2022 Budget, we might see a review of the Wealth taxes, as well as the revised carbon tax emissions for 2024.
Another topic that will be on the table might be the long-postponed increase of the Good and Service Taxes.
Prior to this, the government had announced that the two-percentage increase will come into effect between 2022 to 2025, though that will also be dependent on the recovery of the economy from the COVID-19 Pandemic as everything slowly returns to a new normal.
Just from a brief glance at the possible agendas, I can feel the cost of living rising already.
Besides that, the relief funds that have been previously given out, the medical subsidies for those who have contracted the virus and face serious conditions, or the whole stimulus economic packages like the Community Development Council (CDC) vouchers and ReDiscover vouchers might be addressed.
In short, don’t miss out on the 2022 Budget because there might be changes that will affect your everyday life.
Even if you do, rest assured in the knowledge that there are replays available at later dates, and there are full and summarised versions available on the official websites.
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Featured Image: YouTube (MCI Singapore)
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