In our weekly series Unwrapped, TheHomeGround Asia takes a closer look at major stories and happenings that impact Singaporeans.
Singapore has had a tough two years due to the global pandemic. The economy was in a recession, people lost their jobs and the country is only now in the process of recovering from the financial impact of Covid-19.
Finance Minister Lawrence Wong delivered Singapore’s Budget 2022 Statement in Parliament on Friday, 18 February. It encompasses five major changes to the country’s tax system, including GST rate hike, which will take effect in two stages from 1 January 2023 and 1 January 2024.
Will this be enough to fund future spending and for the government to take better care of its “natural resources” – its people?