PM Lee on raising taxes during the PAP Convention

On raising taxes:

PM Lee said at the PAP Convention that government spending has gone up, and is expected to rise further in the days ahead.

The Government has enough revenue for the current term of government but as spending goes up, Finance Minister Heng Swee Keat was right to say that it will be a matter of 'when' and not 'whether' taxes will go up. 

"WELL BEFORE THE TIME COMES, we have to plan ahead, explain to Singaporeans what the money is needed for, and show how it will benefit everyone, young and old," said Mr Lee.

In the past few years, the Government has been pumping in money to develop different schemes and programmes that will help enhance Singapore's competitiveness, while creating more opportunities and jobs for Singaporeans.

This includes a $4.5 billion Industry Transformation Programme, which provides support to firms and industries while driving innovation.

On the infrastructure end, additional MRT lines like the Thomson-East Coast Line are in the works to form a more connected and resilient train network. Other policies for childcare and the elderly will also require funds.