SINGAPORE - Mr Lawrence Wong takes over from Deputy Prime Minister Heng Swee Keat as Finance Minister. Having assisted Mr Heng as Second Minister for Finance since 2016, he has, as Prime Minister Lee Hsien Loong said, the experience and is a natural fit for the job.
Ms Indranee Rajah supports Mr Wong as Second Minister.
Mr Wong will continue to co-chair the Covid-19 multi-ministry task force together with new Health Minister Ong Ye Kung and Trade and Industry Minister Gan Kim Yong.
Key challenges
• Implement the goods and services tax (GST) hike
The planned GST hike from 7 per cent to 9 per cent will take place between next year and 2025 - sooner rather than later - subject to the economic outlook.
Cash surplus not a reason to hold off GST hike as land sales proceeds do not generate revenue: Indranee Rajah Toggle share menu
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Cash surplus not a reason to hold off GST hike as land sales proceeds do not generate revenue: Indranee Rajah
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Cash surplus not a reason to hold off GST hike as land sales proceeds do not generate revenue: Indranee Rajah
Second Minister for Finance Indranee Rajah speaking in Parliament on Apr 5, 2021.
05 Apr 2021 06:40PM) Share this content
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SINGAPORE: Proceeds from land sales, which make up the bulk of the Government’s cash surpluses, are not considered as part of the Government’s revenue and cannot be used for spending, said Second Minister for Finance Indranee Rajah in Parliament on Monday (Apr 5).
Should there be a need for Singapore to use its past reserves to fund economic investments, the Government would have to do its best to make good on the amount drawn, Deputy Prime Minister Heng Swee Keat said yesterday.. Read more at straitstimes.com.
The Straits Times
Budget debate: Singapore must protect reserves, not in national interest to reveal its size, says DPM Heng
Singapore s reserves serve as a bulwark against extraordinary crises, said Deputy Prime Minister Heng Swee Keat.ST PHOTO: GIN TAY
PublishedFeb 26, 2021, 8:22 pm SGT
https://str.sg/JVc2
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