Parliamentary Replies

Parliamentary Question by Mr Louis Ng Kok Kwang:

To ask the Minister for Finance whether a public consultation will be conducted on the review of the carbon tax.

Parliamentary Reply by Minister for Finance, Mr Lawrence Wong:

We announced at Budget 2021 that we are reviewing the post-2023 carbon tax level and trajectory to spur the transition to a more sustainable future, while maintaining our overall economic competitiveness. The outcome of the review will be announced at Budget 2022 to provide time for adjustment to the changes.

We will engage widely as part of this review. The public have also been providing their views, through ongoing engagements on how the Singapore Green Plan and the carbon tax can help us achieve a low-carbon, sustainable future. In the annual lead up to Budget 2022, MOF will also seek views from the public. More details on engagements will be shared as they become available.

The transition to a greener and more sustainable future will involve difficult trade-offs. But there will also be opportunities for innovation and growth. The Government will continue to support Singaporeans and businesses through this transition.