Framework for Determining When Economic Conditions Warrant Broad-based Payouts to Households

Parliamentary Question by Assoc Prof Jamus Jerome Lim:

To ask the Prime Minister and Minister for Finance (a) whether the Government has a formal framework for determining when economic conditions warrant broad-based payouts to households; (b) if so, what key indicators are considered; and (c) if not, whether the Ministry will consider publishing such a framework to improve transparency and predictability.

Parliamentary Reply by Senior Minister of State for Finance, Mr Jeffrey Siow:

For broad-based payouts, the Government considers various factors, including the latest economic and inflation outlook, the overall size of fiscal injections, whether certain groups of households need more help, and fiscal sustainability. This allows the Government to take both a quantitative and qualitative approach and be more responsive to prevailing conditions, while sharing with Singaporeans the benefits of our economic growth.