Deputy Prime Minister Tharman Shanmugaratnam said Singapore is stronger than many other developed countries, as the policies introduced are for a “fair and just society” to benefit future generations.
Speaking at a recent lecture, Mr Tharman, who is also the Finance Minister, said the government will continue to “preserve and build” on the existing progressive system of taxes and subsidies, even if the next generation of leaders shift their focus towards raising revenues to support growing healthcare needs.
He added that state subsidies must be given to those who need them the most, instead of handing out universal benefits that could be “wasteful and inequitable”.
“We all play a part in keeping ours a fair and just society, and taking pride in making it so,” he added.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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