Lawrence Wong Dubs Budget 2023 A Valentine’s Day Gift To Help S’poreans Cope With Inflation

Lawrence Wong Says Budget 2023 Will Help Residents Cope With Soaring Prices & Inflation

For those with a significant other in their lives, 14 Feb each year is an important date.

But this Valentine’s Day will be a more ‘inclusive’ one, with the Government aiming to be everyone’s Cupid with the unveiling of Budget 2023.

Speaking about the upcoming announcement on Tuesday (3 Jan), Finance Minister Lawrence Wong said Budget 2023 will be his “Valentine’s Day present” for everyone.

Mr Wong also gave a preview of this year’s Budget, sharing that it’d help Singaporeans cope with cost-of-living issues, with an emphasis on helping more vulnerable or lower-income groups.

Budget 2023 will provide support, especially to vulnerable Singaporeans

Attending the launch of the 2023 CDC Vouchers on Tuesday (3 Jan), Mr Wong said that the finance ministry is currently in the thick of preparing Budget 2023.

He had earlier announced that the Budget will be unveiled on 14 Feb, which coincides with Valentine’s Day.

Therefore, Mr Wong said that Budget 2023 will be his “Valentine’s Day present to all”.

The finance minister also acknowledged the cost-of-living issues which are the key concerns on everyone’s minds.

However, he assured Singaporeans that the Government “will always be here” and will help residents cope with soaring prices and inflation.

In particular, Mr Wong said that Budget 2023 will include additional support measures, especially for vulnerable individuals and those in lower-income groups.

Macro uncertainties await us in 2023

Budget 2023 aside, Mr Wong outlined macro uncertainties and challenges that await us in the coming year.

Although a year has passed since the start of the Ukraine invasion, he claimed that the conflict is unlikely to end “anytime soon”.

Mr Wong warned that this might potentially cause food and energy disruption.

Meanwhile, geopolitical tensions continue to plague the relationship between China and the US — the two major powers on both sides of the Pacific.

Last but not least, Mr Wong warned that the Covid-19 pandemic is not yet over.

Illustrating this, he pointed out that China is facing a new wave of cases. Singapore is also looking at how it might potentially affect us.

But in an attempt to stay optimistic, Mr Wong expressed hope that Singapore can leave Covid-19 behind “later this year”. This is especially in view of the high level of resilience residents have towards the virus.

Have news you must share? Get in touch with us via email at news@mustsharenews.com.

Featured image adapted from Lawrence Wong on Facebook and Facebook.