Singapore Budget 2021 Commentary

Rethink, reimagine and transform now

Budget 2021 roundup

Beyond managing COVID-19 challenges, this year’s Budget sets out the agenda for future growth through new ways of working, collaborating and connecting for inclusive growth across both enterprises and the Singapore workforce. Watch our video for a quick overview of our commentary in a minute.

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Singapore Budget 2021 roundup

Watch our video for a quick overview of our commentary in a minute.

Budget to 'build back better'; a pathway to sustainability

COVID-19 has clearly rattled Singapore's economy. But Budget 2021 shows that the Government is determined to focus on the positive with a strong emphasis placed on sustainability. Read our commentary in The Business Times to learn more about where our leaders, Chris Woo, Abhijit Ghosh, and Eu-Lin Fang see opportunities.

Read more

Key themes

Supporting the recovery

A significant portion of this year’s Budget was set aside to provide continued support to individuals and businesses in the worst hit sectors to tide them through the pandemic. Given the success of the measures in propping up the economy last year, the extension of these measures are welcomed by businesses and individuals.

Transforming to seize opportunities

The Government is taking bold steps to encourage the adoption of digital technologies, create new sources of capital to spur growth of local enterprises, and enhance our tax system to best position Singapore for capturing new business opportunities in the post-COVID-19 world. All of this and more, while keeping an eye on the COVID-19 ball. As Prime Minister Mr Lee Hsien Loong said, “When the sun shines again, we must be ready to seize the new opportunities.”

Forging ahead with sustainable growth

It is encouraging to see that the Government has the foresight to take action not only to mitigate risks but also create opportunities amid challenges led by climate change. Focus on national development in a sustainable manner is key to reaping significant rewards in the digital future.

Other fiscal measures and initiatives

The Budget also provides measures to continue supporting philanthropy and volunteerism to ensure the vulnerable and needy groups in society are cared for, given they are hit much harder by the economic fallout from the pandemic. Non-tax measures to enhance enterprise capabilities and workforce development were also announced.

Measures to boost corporate focus on social initiatives

Contact us

Chris Woo

Asia Pacific Tax Leader, PwC Singapore

+65 9118 0811


Greg Unsworth

Digital Business Leader, PwC Singapore

+65 9848 6025


Eu-Lin Fang

Sustainability and Climate Change Practice Leader, Partner, PwC Singapore

+65 9817 8213


Martijn Schouten

Workforce Transformation Leader, PwC South East Asia Consulting, PwC Singapore

+65 9667 4961


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