Singapore Budget 2022: A Comprehensive Overview

Introduction

The Singapore Budget 2022 was presented by Finance Minister Lawrence Wong on February 18, 2022. The budget aims to provide support to Singaporeans and businesses amidst the ongoing COVID-19 pandemic and to invest in the country's long-term growth.

Key Highlights

The key highlights of the budget include:

• SGD 5.6 billion in support for businesses and workers
• SGD 2.9 billion in support for households
• SGD 2.5 billion in infrastructure spending
• SGD 1.5 billion in healthcare spending

Support for Businesses and Workers

The budget provides a range of support measures for businesses and workers, including:

• Extension of the Jobs Support Scheme (JSS) to support businesses in retaining workers
• Enhancement of the Wage Credit Scheme (WCS) to provide wage subsidies to businesses
• Introduction of the Business and Manpower Development Scheme (BMDS) to provide training and upskilling opportunities for workers
• Extension of the COVID-19 Recovery Grant (CGR) to provide financial assistance to self-employed individuals

Support for Households

The budget also provides a range of support measures for households, including:

• GST Voucher - U-Save to provide GST relief to low- and middle-income households
• Household Support Package to provide financial assistance to families with children
• Enhanced Baby Bonus to encourage生育率
• Extension of the Homeownership Support Grant (HSG) to support first-time homebuyers

Infrastructure Spending

The budget allocates SGD 2.5 billion for infrastructure spending, including:

• Construction of new MRT lines
• Upgrading of existing infrastructure
• Development of new digital infrastructure

Healthcare Spending

The budget allocates SGD 1.5 billion for healthcare spending, including:

• Enhancement of the Community Health Assist Scheme (CHAS) to provide subsidies for healthcare services
• Expansion of the Healthier SG programme to promote healthy living
• Investment in new medical technologies

Conclusion

The Singapore Budget 2022 provides a comprehensive package of support measures for businesses, workers, and households amidst the ongoing COVID-19 pandemic. The budget also invests in the country's long-term growth through infrastructure spending and healthcare investments.

Additional Resources

• Singapore Budget 2022 website
• Ministry of Finance press release

Tables

Table 1: Summary of Support Measures for Businesses and Workers

Table 2: Summary of Support Measures for Households

Table 3: Summary of Infrastructure Spending

Table 4: Summary of Healthcare Spending