Heng Swee Keat

Cohesion key for societies to thrive, says DPM Heng Swee Keat

SINGAPORE (June 21): Building unity from a diverse society is more important than ever given the current era of “unprecedented levels of global trade, technological advancement and human migration,” says Singapore Deputy Prime Minister Heng Swee Keat.

And while global trade has benefitted many, Heng – who is also Finance Minister – points out that it has also sharpened the divide between the haves and the have-nots.

Briefs

SINGAPORE (May 6): “What’s wrong with a female emperor, I wonder? Those practices need to change in the modern era.” Yukiko Minegishi, who works with a uniform maker in Tokyo.

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Briefs

SINGAPORE (Apr 29): “I suggest you build and not just buy. You are more likely to win the race this way.”Manpower Minister Josephine Teo, urging financial institutions to invest more in training their workforce.

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Former US vice-president Joe Biden has announced that he is running for the 2020 Democratic presidential nomination, throwing his hat into a field that now includes 20 candidates.

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Singapore's pre-election cabinet change sets Heng up for top job

(Apr 23): Singapore’s Finance Minister Heng Swee Keat was promoted to deputy prime minister on Tuesday, a move that further positions him to succeed Prime Minister Lee Hsien Loong.

Heng will become Lee’s deputy on May 1 while retaining the finance post, the prime minister’s office said in an emailed statement. He will also continue chairing the Future Economy Council and National Research Foundation.

Heng sees solid Southeast Asia growth despite risks

(Apr 8): Singapore and other Southeast Asian economies are poised to remain resilient in the face of increasingly dour signs on the global economy, said Finance Minister Heng Swee Keat.

Economies in the 10-member Association of Southeast Asian Nations “and Asean as a group both continue to grow quite well even this year and next,” Heng told Bloomberg Television’s Haslinda Amin on the sidelines of meetings of the regional bloc in Chiang Rai, Thailand. “There will still be growth even though the growth will be uneven across the world and it’ll be slower than before.”

Cautious Budget spending necessary for long-term planning: Heng Swee Keat

SINGAPORE (Mar 4): Singapore may have accumulated huge surpluses during the current term of government, but that does not indicate an upcoming spending spree. The surpluses will also not be used to stall an impending Goods and Services Tax hike due to happen from 2021 to 2025.

On Feb 28, in rounding up parliamentary debate on the broad fiscal principles of this year’s Budget, Finance Minister Heng Swee Keat explains that the planned increase in the Goods and Services Tax is necessary, and reiterated the government stance on saving for a rainy day.

What huge surpluses mean for Singapore's future

SINGAPORE (Mar 1): Singapore may have accumulated an estimated surplus of $15 billion during the current term of government, but this does not indicate an upcoming spending spree.

For one, the surpluses will not be used to stall an impending Goods and Services Tax (GST) hike due to happen from 2021 to 2025.

On Feb 28, in rounding up parliamentary debate on the broad fiscal principles of this year’s Budget, Finance Minister Heng Swee Keat underscored the necessity of the planned GST hike, and reiterated the government stance on saving for a rainy day.

Winners and losers from Singapore's budget as election looms

SINGAPORE (Feb 19): Singapore Finance Minister Heng Swee Keat boosted health-care and military spending, gave tax rebates to citizens and tightened rules on foreign workers ahead of an election that could come as early as this year.

Heng announced a new $8 billion support package for seniors in his budget speech on Monday, as well as measures to help local businesses adopt new technologies. The expansionary fiscal plan will push the overall budget deficit to 0.7% of gross domestic product in the year ending March 2020, from a revised surplus of 0.4% this year.

$1.3 bil worth of initiatives launched to commemorate Singapore bicentennial

SINGAPORE (Feb 18): In commemoration of Singapore’s bicentennial this year, the Singapore government is introducing two special initiatives to "support the spirit of giving back” in the form of a $200 million Bicentennial Community Fund, as well as a $1.1 billion Bicentennial Bonus.

The Bicentennial Community Fund will provide dollar-for-dollar matching for donations made to Institutions of a Public Character (IPCs) in FY19.

Lower-wage, older workers to receive greater support amid tighter labour market

SINGAPORE (Feb 18): Lower-wage and older Singaporean workers aged 55 and above will receive more support with the introduction of the Budget 2019 measures, announced Finance Minister Heng Swee Keat during his Singapore Budget speech today.

For one, enhancements be made to the current Workfare Income Supplement (WIS) scheme, which provides cash payouts and CPF top-ups for workers whose earnings are in the bottom 20 percentile.

Come January 2020, the qualifying income cap for WIS will be raised from $2,000 currently to $2,300 per month.

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