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Parliament: S'pore in a strong position to prevent lost 'Covid Generation', says DPM Heng in Fortitude Budget debate round-up

Jun 05, 2020 | 🚀 Fathership
SINGAPORE - The four Budgets assembled to date serve as the Government's strong response to preventing a "Lost generation" of workers and students caused by Covid-19, which has turned out to be the global crisis of this generation, Deputy Prime Minister Heng Swee Keat said on Friday.

These have enabled Singapore to marshal close to $100 billion to fight the coronavirus and the huge impact it has had on the global economy - and weather the expected lengthy road to recovery - with a focus on people and jobs, Mr Heng said in his speech to round up debate on the Fortitude Budget.

Taken together, the Fortitude Budget and the three preceding Budgets this year add up to $193 billion, more than double the size of Singapore's annual Budget in the preceding years.

The Emerging Stronger Task Force is studying key shifts and developing recommendations in the areas of technology and innovation, digitalisation, and disruption to global supply chains, said Mr Heng.

While Singapore has been able to mount a strong fiscal response because of its national reserves, Mr Heng also called on Singaporeans to have strong social reserves both as individuals and across different levels of society, "Working together and holding one another up with trust and in solidarity".