Singapore Budget 2018: Matching more problems with more money

(Feb 20): Singapore’s budget on Monday was all about boosting government revenue through higher taxes in order to pay for rising spending needs.

While the city state has substantial reserves that it draws on to help fund the budget, that’s not a long-term solution for a fiscally conservative government like Singapore’s. Finance Minister Heng Swee Keat said authorities must act prudently as the economy matures and the population ages, outlining a range of tax increases, including on property, consumption and online services, such as video streaming.

Here are five charts that give the highlights of the budget:

---

Related Stories

• Greater healthcare assurance; additional $3.1 bil set aside for healthcare subsidies and support
• Encouraging strong partnerships within Singapore and across the world
• Singapore plans to focus on health, infrastructure in Budget 2019

---