Singapore Finance Minister Lawrence Wong wraps up Budget 2024 debate

Deputy Prime Minister and Finance Minister Lawrence Wong wrapped up the debate on the Budget in Parliament on Wednesday (Feb 28). On the issue of social support, Mr Wong assured Singaporeans that the government is taking further steps to strengthen its system of risk-pooling and social support. He stressed that it is not just about giving handouts, but is also about giving people a “leg up”. He also addressed concerns of Singapore becoming a two-track economy - one for multinational corporations and another for SMEs. He said a better way is to look at them as two broad segments of the economy - one that is outward-oriented and another that is domestic-oriented.