Plans on Use of Surplus from FY2022/2023 Revenues Net of Expenditures to Support Transformation and Growth of SMEs and Workers

Debated in Parliament on 2 Aug 2023.

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The Deputy Prime Minister and Minister for Finance highlighted that the FY2022/2023 surplus exceeded projections and will be used to address immediate concerns, strengthen the social compact, and support SMEs and workers.
The government is collaborating with agencies to formulate plans for utilizing the surplus, with spending estimates to be presented for parliamentary approval during the annual Budget process.
The response also addressed a related parliamentary question by Edward Chia Bing Hui, ensuring coordinated consideration of the surplus’s role in national transformation and growth initiatives.

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Derrick Goh

Mr Derrick Goh asked the Deputy Prime Minister and Minister for Finance given the surplus for FY2022/2023’s revenues net of expenditures, whether the Government can share its plans on how it will use these surplus funds to support SMEs and workers to help them to transform and grow.

Lawrence Wong

My response will also address a Parliamentary Question filed by Mr Edward Chia Bing Hui, which is due for reading at a subsequent Sitting as it is related to the same subject matter.

The Overall Fiscal Position for FY2022 turned out to be slightly better than what we had projected in this year’s Budget. The additional resources are welcomed and will be put to good use, be it to deal with immediate concerns like cost of living, to strengthen our social compact under the Forward Singapore exercise, or as Mr Derrick Goh suggested, to support our small and medium enterprises (SMEs) and workers.

The Ministry of Finance (MOF) is working on these plans with other agencies, and the spending estimates will be tabled for Parliament’s approval as part of our annual Budget process.

Summary written by AI (learn more)

The Deputy Prime Minister and Minister for Finance highlighted that the FY2022/2023 surplus exceeded projections and will be used to address immediate concerns, strengthen the social compact, and support SMEs and workers.
The government is collaborating with agencies to formulate plans for utilizing the surplus, with spending estimates to be presented for parliamentary approval during the annual Budget process.
The response also addressed a related parliamentary question by Edward Chia Bing Hui, ensuring coordinated consideration of the surplus’s role in national transformation and growth initiatives.

Questions identified by AI (learn more)

Plans on Use of Surplus from FY2022/2023 Revenues Net of Expenditures to Support Transformation and Growth of SMEs and Workers | PAPERCUTS

Plans on Use of Surplus from FY2022/2023 Revenues Net of Expenditures to Support Transformation and Growth of SMEs and Workers

Debated in Parliament on 2 Aug 2023.

Summary written by AI (learn more)

The Deputy Prime Minister and Minister for Finance highlighted that the FY2022/2023 surplus exceeded projections and will be used to address immediate concerns, strengthen the social compact, and support SMEs and workers.
The government is collaborating with agencies to formulate plans for utilizing the surplus, with spending estimates to be presented for parliamentary approval during the annual Budget process.
The response also addressed a related parliamentary question by Edward Chia Bing Hui, ensuring coordinated consideration of the surplus’s role in national transformation and growth initiatives.

Questions identified by AI (learn more)

Full Transcript

Derrick Goh

Lawrence Wong

My response will also address a Parliamentary Question filed by Mr Edward Chia Bing Hui, which is due for reading at a subsequent Sitting as it is related to the same subject matter.

The Ministry of Finance (MOF) is working on these plans with other agencies, and the spending estimates will be tabled for Parliament’s approval as part of our annual Budget process.

Summary written by AI (learn more)

The Deputy Prime Minister and Minister for Finance highlighted that the FY2022/2023 surplus exceeded projections and will be used to address immediate concerns, strengthen the social compact, and support SMEs and workers.
The government is collaborating with agencies to formulate plans for utilizing the surplus, with spending estimates to be presented for parliamentary approval during the annual Budget process.
The response also addressed a related parliamentary question by Edward Chia Bing Hui, ensuring coordinated consideration of the surplus’s role in national transformation and growth initiatives.

Questions identified by AI (learn more)

Plans on Use of Surplus from FY2022/2023 Revenues Net of Expenditures to Support Transformation and Growth of SMEs and Workers

Summary

Questions Identified

Full Transcript

Derrick Goh

Lawrence Wong

Summary

Questions Identified

Plans on Use of Surplus from FY2022/2023 Revenues Net of Expenditures to Support Transformation and Growth of SMEs and Workers

Summary

Questions Identified

Full Transcript

Derrick Goh

Lawrence Wong

Summary

Questions Identified