Singapore's Fiscal Prudence Enables Continued Support for Citizens

Singapore's PM Lawrence Wong defends CDC voucher funding, citing earlier tax increases. Singapore announced a new tranche of S$500 CDC vouchers. Prime Minister Lawrence Wong emphasized the government's commitment to fiscal responsibility. He explained that tax increases earlier this decade, while unpopular, were necessary to bridge a funding gap in public finances. "It was certainly not popular, but it was the right thing to do and it was a responsible thing to do," Wong stated. This responsible financial management, he added, allows the government to continue supporting Singaporeans through cost-of-living increases. The government's approach ensures the long-term sustainability of assistance programs. This proactive fiscal policy allows Singapore to navigate future economic challenges effectively.