Parliament approves S$131.4b Budget, provides ‘clear action plan’ to take Singapore into the future

SINGAPORE: Parliament approved the S$131.4 billion (US$98.3 billion) Budget for this year on Thursday (Mar 7), after nine days of debate. 

This is the first time in three years that Members of Parliament from the ruling People’s Action Party and opposition parties have explicitly expressed their support for a Budget, noted Speaker of Parliament Seah Kian Peng in his closing speech. 

“And this support came from no less than the leaders of both opposition parties. We all want to build a Singapore for all, and we want to build it for all Singaporeans,” he said.

In a “messier, more dangerous and more unpredictable” world, Budget 2024 “provides a clear action plan to take Singapore forward into the future with optimism and hope”, said Leader of the House Indranee Rajah in her closing speech. 

“Budget 2024 also sets aside resources for policies that will allow us to turn challenges into opportunities, reinvigorate our workforce by helping workers find new paths and second careers, and build a Singapore that is vibrant and inclusive, fair and thriving, resilient and united,” she added. 

This year’s Budget also “ensures that no one is left behind”, said Ms Indranee, who is also Second Minister for Finance and Second Minister for National Development.

Stressing the need for inclusivity, she added: “At the same time, by creating opportunities and providing catalytic assistance to encourage and amplify individual effort, we are fostering a resilient and united Singapore.” 

Standing to speak, MP Gerald Giam (WP-Aljunied) called on parliament to set up standing select committees for each ministry or group of related ministries comprising MPs from all political parties represented in parliament. 

While Singapore has seven standing select committees, it does not have any specific to individual ministries, he said, noting that other countries like the United Kingdom and Australia have this practice. 

After scrutinising legislation and policies, the select committees can make recommendations to parliament before Bills and motions are voted on, said Mr Giam. 

“This process will lead to more informed and constructive debate and better decision-making in parliament,” he continued. 

In response, Ms Indranee said: “I think the question that we have to ask ourselves is, in the other countries where they have this multitude of select committees, are they necessarily better governed? Do they necessarily have better outcomes? Are their parliaments more efficient? Is their government more trusted?”

“I would venture to say no, not necessarily, to all of those questions,” she said, adding that Singapore fares well in international rankings on governance, transparency and corruption. 

It would not be productive for every ministry to have to answer to a select committee, said Ms Indranee. 

Mr Giam then questioned if Ms Indranee believed that select committees do not lead to better governance and trust, and if she meant that they cause the public to trust the government less.

Ms Indranee clarified that she was responding to the “underlying assumption” that having select committees would lead to better governance or better accountability. 

“I’m saying that having select committees doesn’t necessarily either guarantee or give you better governance or better accountability. I’m saying that the processes that we have give a lot of room for government and ministers to be held to account,” she added. 

During the two-and-a-half day Budget Statement debate, 61 Members of Parliament from both sides of the House rose to speak, said Mr Seah. A total of 598 cuts were filed for the subsequent Committee of Supply debates, he added.

He chaired his maiden Budget and Committee of Supply debates this year after becoming Speaker of Parliament in August 2023.