Lee Hsien Loong’s advice: The international landscape is full of variables and the new budget focuses on future planning

In the face of uncertainty and changes in the global environment, our country must be prepared and maintain unity, and the government has also made clear long-term plans to give people confidence to meet future challenges. The newly announced fiscal budget is a plan for all Singaporeans with a focus on the future.

State Counsel Lee Hsien Loong emphasized this point when attending the Education Excellence Award Ceremony of the Deyi District Citizen Advisory Committee – Community Development Council on Saturday (February 22).

In his speech, he said that new technologies such as artificial intelligence create new work and opportunities, but will also reshape the field and affect existing work. The international landscape is also full of variables, and the new US government has made significant policy changes. Last week, the United States asked European countries to take responsibility for their own national defense, but rely too much on the United States.

In terms of trade policy, the United States has also proposed to impose tariffs on trading partners, which, if implemented, may push up inflation rates in the United States and other countries. The United States' position on China has not yet been cleared, and these factors have caused uncertainty in the international situation.

Lee Zizheng said Singapore must be prepared for any situation, but the people do not have to worry because the government has clear plans to allow us to move forward with confidence. Prime Minister and Finance Minister Hwang Xuncai shared these plans in a budget statement issued this week.

Further reading

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The government will continue to help Chinese people reduce their living expenses through Community Development Council Neighborhood Shopping Voucher (CDC Voucher) and other methods; invest in emerging fields such as quantum computing and transportation infrastructure; and help Chinese people improve their skills, etc.

Li Zizheng said that this budget is aimed at every people and reflects our country's commitment to building a more caring and inclusive society. Although lower-income people receive more assistance, families with stronger financial capabilities, including those living in private homes, can also benefit from it. For example, they will also receive a Climate Voucher and can participate in the Age Easy Program. Each Singaporean can also enjoy SG60 Neighborhood Shopping Voucher. Everyone can enjoy the fruits of national development. He called on the people to unite and support the government capable of leading Singapore, and work together to implement the plan so that Singapore can continue to shine in the future.

Li Zizheng also presented awards to students at the event, and more than 350 students were awarded the Education Excellence Award.