Budget 2026 debate: Pritam Singh calls for full disclosure of billions in public spending amid record surplus

Workers’ Party chief Pritam Singh has called for greater transparency in government spending, emphasizing the need for clearer accountability given Singapore’s substantial fiscal surpluses.

Calls for Fuller Public Disclosure of Government Spending

Speaking during the Budget debate on Tuesday, Singh highlighted what he described as “one of the largest fiscal surpluses in decades.” He also questioned the timing of the last General Election, noting it occurred shortly after the Trump administration announced new tariffs.

According to Singh, parliament was dissolved just days after the “Liberation Day tariffs” were unveiled by the United States. He argued the election timing was strategically calculated to benefit the People’s Action Party (PAP), with tariff uncertainty used to encourage voters to support the established government.

Despite initial concerns about the tariffs, Singh pointed out that the government is now entering its new term with a potentially record-breaking fiscal surplus. Singapore recorded a surplus of S$15 billion (US$11.8 billion) for the 2025 financial year and anticipates an S$8 billion surplus for 2026. These figures exceed the S$2 billion to S$3 billion in additional annual revenue expected from the Goods and Services Tax (GST) increases in 2023 and 2024.

Corporate tax collections are also projected to increase from the 2027 financial year, potentially further expanding the surplus.

Accountability Concerns with Major Spending Packages

Singh emphasized the public interest in understanding how these surpluses will be allocated, particularly in light of Singapore’s aging population and ongoing issues with inequality. He noted the S$40 billion Forward Singapore package announced during Budget 2024, but stated there has been no widely publicized tracking of cumulative spending from that initiative.

Regarding the Research, Innovation and Enterprise (RIE) 2030 plan – which has seen funding increased to S$37 billion – Singh said there is “no comprehensive report” detailing how previous allocations were used or the outcomes achieved. He stressed the need for demonstrable effectiveness in taxpayer spending.

Singh warned that a lack of clear accounting for public funds could lead to public cynicism and detachment, which he believes would be detrimental to Singapore and contradict the participatory spirit of Forward Singapore.