In this section, you will find videos on our Budget process and Budget 2021. Click on each video to learn more!
Ministerial Statement (July 2021) Round-Up Speech
Ministerial Statement (July 2021) Round-Up Speech
Besides dealing with the immediate challenges, we must also prepare ahead for a post-pandemic world. This means building a more vibrant economy, a fairer and more inclusive society, and a greener and more liveable home.
Covid-19 will be a major chapter in our history. While it is difficult, it’s also a time we see the best of Singaporeans.
Let’s harness our collective strengths, keep striving to do better, and write many more chapters of our Singapore Story together.
Ministerial Statement on 26 July 2021
Ministerial Statement on 5 July 2021
1. 2021 Budget Debate Round-Up Speech
The 2021 Budget Debate Round-Up Speech addresses these three themes:
- Singapore’s economic strategy to emerge stronger together;
- A cohesive and liveable Singapore; and
- A prudent fiscal strategy for the long term.
2. Navigating out of the Storm
03m37sOur economic response to COVID-19 has enabled us to narrowly avert a much deeper recession and scarring. Our calibrated strategy to support businesses and protect livelihoods has also seen positive outcomes for firms and workers.
3.1 Charting the Course for the Future – Stronger Businesses
05m14sOur $24 billion action plan over the next three years seeks to give our workers and businesses a distinct advantage in the global marketplace. We will build an ecosystem that fosters a virtuous cycle of innovation and knowledge transfer. We will support transformation for our businesses, in ways that bring workers along.
3.2 Charting the Course for the Future – Skilled Workers
04m01sOur efforts to sustain a virtuous ecosystem of innovative and competitive firms ultimately serve to create good opportunities for our people. We will build upon the skills and experience of our workers to prepare them for the jobs of tomorrow.
4. A Cohesive and Liveable Singapore
03m29sThe Government has been judiciously putting in place multiple layers of support to help all Singaporeans, and will continue to do so.
5. Planning Ahead for a Green Future
02m40sWe must ensure our clean living environment endures for future generations to enjoy. Protecting our environment is a whole-of-society, multi-generational effort, and our commitment to future generations.
6.1 A Prudent Fiscal Strategy for the Long-Term – Use of Taxes
05m03sWith structural increases in our spending needs, more tax revenue is necessary, but the Government is committed to help Singaporeans manage the impact.
6.2 A Prudent Fiscal Strategy for the Long-Term – Use of Borrowing and Our Reserves
03m33sThe Government will borrow for long-term infrastructure, which is a fair and efficient approach to spread out lumpy costs. Our reserves are our strategic bulwark – the Government does not take any decision on the use of reserves lightly.
02m17sThe years ahead will be crucial. To succeed, every Singaporean must come together to build the Singapore we want to see. We will forge ahead as One Team Singapore, and Emerge Stronger Together.
Full Budget 2021 Round-Up Speech
02h01m23sBudget 2021, on Emerging Stronger Together, lays out our strategic plan to capitalise on our strengths, and to double down on our commitment to invest in connectivity, digitalisation, the green economy, and our people.
Emerging Stronger Together: Supporting our Businesses
01m05sBudget 2021 invests in businesses so that they can innovate, build deep capabilities, and seize growth opportunities.
Emerging Stronger Together: Supporting our Workers and Jobseekers
00m52sOur economy is recovering gradually but unevenly. Budget 2021 contains tailored support for workers and jobseekers to maintain resilience and support growing areas.
Emerging Stronger Together: Supporting our Households
00m42sAs we recover from the crisis of a generation, Budget 2021 will help Singapore emerge stronger as a society and community.
Emerging Stronger Together: Embracing Sustainability
00m41sSustainable development is a major priority for Singapore. Budget 2021 builds on earlier foundations to create a sustainable Singapore for generations to come.
#SGBudget2021: Emerging Stronger Together
00m29s#ICYMI - The annual Singapore Budget statement was delivered on 16 Feb 2021. We rolled out 5 Budgets in 2020 with aim to get through the COVID-19 pandemic as a strong, united people. This year, our Budget reflects the next stage of our journey, for us to Emerge Stronger Together.
SG Budget 2021: COVID 19 Resilience Package
00m28sThe Government’s immediate priority is to re-open Singapore safely while sustaining the momentum of our recovery. To do so, $11 billion has been set aside for the COVID-19 Resilience Package.
SG Budget 2021: Household Support Package
00m30sAbout $900 million has been set aside in Budget2021 for the Household Support Package to ensure our families are well supported through this period of economic uncertainty, with lower- to middle-income families receiving more.
SG Budget 2021: Supporting the Singapore Green Plan 2030
00m30sClimate change is real and urgent, and it is imperative that we act now. Building a green Singapore requires a whole-of-society effort, and together, we can build a sustainable home for all.
SG Budget 2021: SGUnited Jobs and Skills Package
00m30sTo support both our firms and workers to emerge stronger as the world evolves, $24 billion has been set aside over the next 3 years to invest in economic and workforce transformation. Of which, $5.4 billion is allocated to a second tranche of the SGUnited Jobs and Skills Package to enable Singaporeans to learn and thrive.
2021 Budget Speech
4m33sThe global battle against COVID-19 is not over. In the coming year, recovery in global economic activity is expected to be long-drawn, highly uncertain, and uneven across sectors and geography. Budget 2021 deploys our fiscal resources and the energies of our people, to realise our collective aspirations and build our future together. Together, we will emerge stronger.
COVID-19 Resilience Package
$11 billion will be set aside for a COVID-19 Resilience Package. This Package will have three prongs, to address our immediate needs to safeguard public health and re-open safely, support workers and businesses where needed, and target support for sectors that are still under stress.
Emerging Stronger – Positioning ourselves for a different, post-COVID-19 world
2m17sOur focus will be on Emerging Stronger. We have a window of opportunity to position ourselves for a different world, post-COVID-19. We will act to secure a better future, with innovative businesses and good jobs for Singaporeans.
Emerging Stronger – Vibrant Business Sector and Ecosystem for Innovation
3m30sWe will work on deepening Singapore’s position as a Global-Asia node – restoring our physical connectivity and transforming our aviation sector for recovery, and expanding our digital connectivity to collaborate and innovate with partners around the world.
Emerging Stronger – Suite of Capital Tools to Co-Fund Transformation
3m07sWe will also provide a suite of capital tools to empower our businesses to innovate, transform, and scale.
Emerging Stronger – Skilled Human Capital and Talent
5m06sThe employment landscape is undergoing fundamental changes, and COVID-19 will accelerate the change. There are many strengths in Singapore that will enable us to create good jobs here. But to access these, we must continue to learn and adapt.
Strengthening our Social Compact
4m51sAs the economic situation remains uncertain, we will introduce a Household Support Package to provide additional support to families. Beyond short-term relief, we will continue to ensure equal opportunities for all and support the needy and vulnerable segments of our society.
Building A Sustainable Home For All
4m39sProtecting our environment is a long-term whole-of-nation effort. We will work with all segments of society and leverage on technology to build a liveable and sustainable home for generations of Singaporeans.
Our Fiscal Strategy
6m46sOur fiscal approach must strike a careful balance between addressing our immediate needs and meeting our longer-term structural needs in a responsible manner.
2m37sBudget 2021 lays out our plans to continue to tackle our immediate challenges and to emerge stronger in the new normal. As One Singapore, let us strive to emerge stronger together, as a united, red dot, that is also green, sustainable and trusted by all.
Full Budget 2021 Speech
Budget 2021 deploys our fiscal resources and the energies of our people, to realise our collective aspirations and build our future together. Let us seek to build a stronger Singapore:
- That is economically vibrant, so we can create good jobs for our people and opportunities for our businesses;
- That is socially cohesive, with a strong social compact and community spirit;
- That is a welcoming home, green and sustainable for generations to come; and
- That has the fiscal and social reserves to enable continued stability and progress.
The Road to Budget 2021: Dedication
The Road to Budget 2021: Engagement
Watch this video to learn more about the importance of engaging with businesses and the community to develop the Singapore Budget.
The Road to Budget 2021: Collaboration
Watch this video to learn how the Government’s annual Budget is developed through collaboration with partner agencies, the public and the private sector.
The Road to Budget 2021: Feedback
2m33sWatch this video to learn more about how MOF gathers views and suggestions from members of the public, and why your views matter in the development of the annual Budget.
Call For Feedback
1m08sHow can Singaporeans play a part in securing a positive future together? In preparation for Budget 2021, the Ministry of Finance has launched a public feedback exercise.
Singapore’s Fiscal Landscape
2m58sWhat are our considerations when planning for our future? Why is fiscal sustainability important? Watch this video to find out more!
Singapore’s National Budget Process
1m36sHow does the Government plan its revenue and spending each year? How are finite resources allocated? Watch this video to find out how Singapore’s Budget is determined every year and share it with your family and friends too!