Budget 2024, titled “Building Our Shared Future Together”, was announced on 16 February by Deputy Prime Minister and Minister for Finance Mr Lawrence Wong.
It included a $1.3 billion Enterprise Support Package designed to help businesses navigate a volatile, rapidly evolving operating environment in the short-term. Beyond the short-term, the Budget 2024 speech emphasised the government's focus on productivity and innovation to propel economic growth of between 2-3% per annum over the next decade.
These productivity and innovation gains are to be enabled by high-quality, high-value investments, with the government topping up the National Productivity Fund, the Financial Sector Development Fund and the Research, Innovation and Enterprise 2025 plan by an aggregate $7 billion. It is also introducing a Refundable Investment Credit scheme that incentivises high-value economic activities such as the setting up or expansion of manufacturing facilities; new innovation and R&D activities; as well as those that support Singapore’s green transition.
Join Second Minister for Finance and National Development Ms Indranee Rajah for this post-Budget discussion on 15 March 2024. The session will be moderated by Mr Christopher Gee, Deputy Director, Senior Research Fellow and Head of Governance and Economy at IPS.