The Budget Process | Singapore Budget

The Budget is the Government’s proposal placed before Parliament every year showing what sums of money the Government expects to receive and how it intends to raise and spend the money. It also sets out how the Government supports families and seniors, strengthens communities, gives businesses room to thrive, and helps every Singaporean learn, live and move forward.

Find out how the Government plans its revenue and spending each year, how finite resources are allocated, and how the Budget is decided.

The Budget is usually considered in February and March each year.

How the Budget is Decided, Step by Step

April: Start of the Financial Year

Throughout the year, the Ministry of Finance (MOF) and other agencies discuss our national priorities, as well as the trade-offs and financial viability of their plans.

November/December: Pre-Budget Engagements

Public consultation begins via online and offline channels. The feedback is reviewed and helps shape the eventual Budget line-up. Stay tuned for the Feedback Exercise for the upcoming Budget!

February-March: Budget Debate and Assent for Supply Bill

Cabinet Approves the Budget

The Budget Statement

The Finance Minister delivers the Budget Statement and introduces the Supply Bill, outlining the Government’s financial policy for the coming financial year and the fiscal measures to be implemented. Parliament then debates the Budget Statement.

Round-Up Speech and Committee of Supply

Following this, the Finance Minister delivers the Round-Up Speech, clarifies queries from Members of Parliament and sums up the Budget.

Subsequently, Parliament sits as a Committee of Supply, debating the estimates of expenditure as contained in the Budget Book and decides whether to approve the allocation of funds for the public services for the next financial year.

2nd and 3rd Reading of the Supply Bill

After the conclusion of the Committee of Supply, the Finance Minister delivers the 2nd and 3rd reading of the Supply Bill. Parliament then votes on the Supply Bill.

President’s Assent is Sought for the Supply Bill

If the President assents to the Supply Bill, the bill becomes a law called the Supply Act. This Act controls the Government’s spending in the upcoming financial year.

By 31 March: The Supply Bill Is Enacted as the Supply Act

The Supply Bill is enacted as the Supply Act by 31 March, before the new financial year begins on 1 April.

Find out more in this video!

Video transcript

Healthcare and housing, education and the economy, security and sustainability. How does the Government plan its spending each year? It all comes down to the Singapore Budget.

The Government considers our national priorities when developing the annual Budget. What does the country need, and how should finite resources be allocated? Are the plans sustainable? What trade-offs need to be made?

The Budget is presented by the Minister for Finance to Parliament before the start of each financial year. Next, Parliament sits as a Committee of Supply to review each ministry’s request for funds. The proposed programmes are examined and debated in detail.

After Parliament passes the Supply Bill, the bill is sent to the President for his assent. Upon receiving the President’s assent, the bill becomes a Supply Act, a law which controls the Government’s spending in the new financial year. And that is how Singapore’s Budget is finalised every year.

Now, did you know Singapore is also required under the Constitution to keep a balanced budget over each term of Government? For more information on the Budget, please visit singaporebudget.gov.sg.

Questions about the Budget Process

What is the financial year of the Singapore Budget?

The financial year begins on 1 April of every calendar year and ends on 31 March of the next calendar year.

When is the Singapore Budget announced?

The Minister for Finance typically delivers the Budget Statement in February.

Who approves the Singapore Budget?

Cabinet approves the Budget. Parliament debates the Budget Statement and votes on the Supply Bill, and the President’s assent turns the Supply Bill into the Supply Act.

What is the Committee of Supply in the Budget process?

The Committee of Supply is Committee of the whole Parliament that considers the business of Supply. It usually sits for seven days or more in March to deal with the estimates of expenditure for the coming financial year. The Committee considers each ministry’s request for funds and votes on it.

What is the Supply Bill in the Budget process?

The Supply Bill is the bill that Parliament votes on after the Committee of Supply. If the President assents to it, it becomes a law called the Supply Act, which controls the Government’s spending in the upcoming financial year.

How can I give my views before the Singapore Budget?

Public consultation begins in November/December via online and offline channels. The feedback is reviewed and helps shape the eventual Budget line-up. Stay tuned for the Feedback Exercise for the upcoming Budget!