Budget 2021 should focus on helping Singapore work towards 'restoring its finances': EY

Budget 2021 should help cushion the economic impact of the Covid-19 pandemic, enhance productivity and innovation, drive workforce transformation and enhance the tax regime, says Ernst & Young Solutions (EY), as it released its wish list for the Singapore Budget on Jan 4.

“Now that the worst of the pandemic looks to be behind us, it’s time to focus on supporting businesses to strengthen and transform for the future, while ensuring that the most impacted individuals and households are given help to rebuild their lives and livelihoods,” says Soh Pui Ming, Singapore head of tax at EY.

“With the significant amount drawn from the reserves last year, it is important that the proposals in Budget 2021 are designed with a long-term, prudent view to help Singapore work towards restoring its finances,” she adds.