President Halimah Yacob gives assent to Budget 2018
SINGAPORE: President Halimah Yacob said on on Tuesday (Mar 13) that she has given her assent to the Supply Bill 2018.
In a Facebook post, Mdm Halimah said that she took the “independent advice of the CPA (Council of Presidential Advisers)”, who attended a detailed briefing on Budget 2018 by Ministry of Finance officials with her earlier this month.
The CPA had recommended that she give her assent to the Bill as the Budget is “unlikely to draw on Singapore’s past reserves”.
The Supply Bill authorises how much the Government can spend within each financial year, and requires the assent of the president. This is to ensure that the government plan the Budget in a fiscally sustainable and financially discipline manner, said Mdm Halimah.
She added that Budget 2018 has the “right balance” of preparing Singapore for the future and help Singaporeans weather the disruptions they will face at the same time.
“Heavy investments in infrastructure, building our people’s capabilities and strengthening our social programmes will ensure that we continue to maintain social cohesion and exclusivity, even as we keep Singapore competitive,” said Mdm Halimah.
“The Budget provides us with the chance to reflect and think as a nation where we are heading and where we want our place to be in the world. The decisions we take today, will have an impact tomorrow.”