Mr Yip proposed avoiding further tax increases in the near term, given the current surplus position.
Similarly, MP Shawn Loh (PAP-Jalan Besar) said the fiscal surplus should give the government more confidence to assure Singaporeans that it would not take “major revenue-raising moves” up to 2035, barring any material adverse circumstances.
Nominated MP Terence Ho said that a balance must be struck between setting aside funds for rainy days, investing in infrastructure capabilities and human capital, and strengthening social support.
