Budget 2021 debate: Hoon Hian Teck on balance in crafting Budget amid pandemic

Crafting Budget 2021 amid a pandemic presents many challenges, especially with great uncertainty about how long the economy will be hit, said NMP Hoon Hian Teck. Speaking in Parliament on Wednesday (Feb 24), he said the Government has to find a balance in using fiscal resources to fight the recession and spur structural transformation. In the near term, fiscal resources should still go towards keeping businesses afloat and saving jobs. If the slump is prolonged, fiscal resources should be directed more at structural transformation, he said.