SINGAPORE: Finance Minister Heng Swee Keat will deliver the Budget 2019 statement in Parliament at 3.30pm on Monday (Feb 18).
Mr Heng has said that this year’s Budget will focus on getting companies to deepen their capabilities, as well as helping workers learn new skills and master new technologies.
He is also expected to announce details on the Merdeka Generation Package, which Prime Minister Lee Hsien Loong said will go some way in helping citizens born in the 1950s with healthcare costs.
Catch the live broadcast of the Budget statement on Channel NewsAsia‘s website, YouTube channel and Facebook page and on Mediacorp’s Toggle and on radio channel 938NOW.
This blog is being updated live, please refresh for updates.
3.38pm: Strong, United Singapore
Budget 2019 is a strategic plan to allocate resources to build a Strong, United Singapore, says Mr Heng. There are five main themes:
- A safe and secure Singapore
- A vibrant and innovative economy
- A caring and inclusive society
- A global city and home for all
- A fiscally sustainable future
But Mr Heng cautioned that financial resources alone are not enough: “We call on all Singaporeans to partner with the Government, and support one another to succeed in this endeavour.”
3.35pm: Four major shifts – one more than in 2018
Protesters wearing yellow vests take part in a demonstration in Marseille, France, Jan 19, 2019. (Photo: Reuters)
Besides a shift in global economic weight towards Asia, rapid technological advancements and changing demographic patterns, Mr Heng highlights a fourth major force that is shaping the future: A decline in support for globalisation.
These four major forces are interacting in complex ways, he says. Trade frictions between the US and China are raising geopolitical uncertainty.
Closer to home, ASEAN has thrived for more than 50 years and working together, the nations can maximise their potential.
But neighbours will have “occasional differences” – such as Singapore’s bilateral issues with Malaysia, he says.
3.32pm: Mr Heng starts delivering Budget 2019
Statues of (left to right) Sang Nila Utama, Munshi Abdullah, Tan Tock Seng, Sir Stamford Raffles and Naraina Pillai. (Photo: Singapore Bicentennial Office)
Finance Minister Heng Swee Keat starts his speech with reflections on Singapore’s bicentennial – the 200th year since Sir Stamford Raffles landed on the island in 1819.
Archaeological finds show that Singapore was a trading emporium with history that stretches back at least 700 years, says Mr Heng.
“In our bicentennial year, let us reflect on the twists and turns in our history, so as to chart a path forward for an even better future for our people.”
3.10pm: Finance Minister Heng Swee Keat arrives
Finance Minister Heng Swee Keat arrives at Parliament House to deliver the Budget 2019 statement on Feb 18, 2019. (Photo: Gaya Chandramonhan)
Mr Heng Swee Keat waves as he arrives at Parliament House to deliver the Budget statement, holding the traditional briefcase.
3.08pm: Tune in soon for live Budget 2019 coverage
Finance Minister Heng Swee Keat will deliver this year’s Budget speech in less than half an hour.
Mediacorp will carry the 2019 Budget statement live on Channel NewsAsia, 938NOW and Toggle.
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You can also go to channelnewsasia.com’s Budget 2019 site for all the latest stories.
