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Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong delivers the Singapore Energy Lecture during the 15th Singapore International Energy Week, in Singapore October 25, 2022. REUTERS/Isabel Kua/File Photo Acquire Licensing RightsSINGAPORE, Nov 5 (Reuters) - Singapore Prime Minister Lee Hsien Loong on Sunday said he will hand leadership of the ruling People's Action Party to Deputy Prime Minister Lawrence Wong as soon as the party's 70th anniversary in November 2024, a year before an election is due. He has served as party secretary-general and prime minister since 2004 and last year chose Wong, who is also finance minister, as his successor. Therefore, I intend to hand over to DPM Lawrence before the next general election," Lee said at an annual party conference. He served as Lee's principal private secretary from 2005 to 2008 and led the education and national development ministries before becoming finance minister in 2021 and deputy prime minister last year.

Persons: Finance Lawrence Wong, Isabel Kua, Lee Hsien Loong, Lawrence Wong, Wong, Lee, Lee Kuan Yew, DPM Lawrence, Walid Jumblatt Abdullah, Chong Ja Ian, Chen Lin, Michael Perry, Christopher Cushing Organizations: Finance, Singapore Energy, Singapore International Energy, REUTERS, Rights, Singapore Prime, Party, Monetary Authority of, Nanyang Technological University, Still, National University of Singapore, Thomson Locations: Singapore, Rights SINGAPORE, Lawrence, Monetary Authority of Singapore

☆ Singapore hopes for substantial IPEF progress by APEC
▼ + stars: | 2023-10-14 | by ( ) www.reuters.com time to read: +3 min

[1/2] Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong attends "Google for Singapore", an event celebrating the company's 15th year in the country, at Google's office, in Singapore August 23, 2022. REUTERS/Edgar Su Acquire Licensing RightsWASHINGTON, Oct 13 (Reuters) - Singapore's deputy prime minister said on Friday he hopes for substantial progress in the U.S.-led Indo-Pacific Economic Framework for Prosperity (IPEF) discussions in time for next month's Asia Pacific Economic Cooperation (APEC) summit. "In areas like supply chains, green economy, digital economy; these are things that we are pursuing, and we hope certainly that there can be some substantial progress." The summit meetings of the 21-member APEC forum will take place in the week of Nov. 11-17 in San Francisco. "But I think we should maintain high ambition and hopefully down the road, in years to come, the conditions may change."

Persons: Finance Lawrence Wong, Edgar Su, Lawrence Wong, Joe Biden, Donald Trump, Wong, David Brunnstrom, Michael Martina, Sandra Maler Organizations: Singapore's, Finance, Google, REUTERS, Rights, Prosperity, Economic Cooperation, APEC, Washington's Center, Strategic, International Studies, U.S, Thomson Locations: Singapore, U.S, Asia, China, Pacific, United States, San Francisco

☆ Setting this year's budget was a 'very delicate balancing act,' says Singapore minister
▼ + stars: | 2023-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSetting this year's budget was a 'very delicate balancing act,' says Singapore ministerSingapore's Deputy Prime Minister and Minister for Finance Lawrence Wong discusses the 2023 budget that was delivered in parliament on Tuesday. He says it was a challenge to find a "sweet spot" as high inflation persists.

☆ Watch CNBC's full interview with Singapore minister Lawrence Wong on the 2023 budget and more
▼ + stars: | 2023-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Singapore minister Lawrence Wong on the 2023 budget and moreSingapore's Deputy Prime Minister and Minister for Finance Lawrence Wong discusses the 2023 budget that was delivered in parliament on Tuesday. He says the country's economy has recovered back to pre-Covid levels, but its fiscal position is "still quite weak" and very tight.

☆ Singapore's budget expected to focus on inflation and support for laid off workers
▼ + stars: | 2023-02-13 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong will deliver the Singapore Budget 2023 on Feb. 14 in Parliament. Rising inflation and layoffs are among the top concerns for Singaporeans and are expected to be addressed in Singapore's budget for 2023. The budget will be delivered by Deputy Prime Minister and Minister for Finance Lawrence Wong on Tuesday at 3:30 p.m. in Parliament. The Singapore budget sets forth a series of measures to support Singaporeans for each financial year, which starts on April 1 and ends on March 31 the following year. He also promised measures to help Singaporeans — particularly the more vulnerable and lower-income group — cope with rising inflation and prices.

☆ Singapore is set to hike its goods and services tax in January. Here's how it will work
▼ + stars: | 2022-12-29 | by ( Natalie Tham | ) www.cnbc.com time to read: +6 min

Singapore's goods and services tax will be raised to 8% in January 2023. Ore Huiying | Bloomberg | Getty ImagesCome Jan. 1, Singapore will raise its goods and services tax, otherwise known as the GST, from 7% to 8%. The GST is a consumption tax imposed on nearly all goods and services in Singapore. With the change, all goods and services imported into Singapore, including imported goods purchased online, will be subject to the tax. Economists who spoke to CNBC held conflicting views on whether the tax hike will hit the nation's lowest earners harder than others.

☆ Singapore plans to reduce peak emissions to 60 mln tonnes CO2 in 2030
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong delivers the Singapore Energy Lecture during the 15th Singapore International Energy Week, in Singapore October 25, 2022. REUTERS/Isabel KuaSINGAPORE, Oct 25 (Reuters) - Singapore plans to reduce its peak carbon emissions target for 2030 to 60 million tonnes of carbon dioxide as the city state strives to achieve net zero by 2050, Deputy Prime Minister Lawrence Wong said on Tuesday. The country had previously aimed for a reduction to 65 million tonnes of CO2 equivalent in 2030. "This 5 million tonne improvement is significant as it is equivalent to reducing our current transport emissions by two thirds," Wong said at the Singapore International Energy Week conference. Register now for FREE unlimited access to Reuters.com RegisterReporting by Emily Chow and Florence Tan; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ The golden age of globalization is clearly over, says Singapore's Deputy Prime Minister Lawrence Wong
▼ + stars: | 2022-09-27 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +4 min

"The golden age of globalization that we experienced in the last 30 years since the end of the Cold War has ended clearly and we are entering a new era, a new era that will be marked by greater geopolitical contestation," said Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong. Bloomberg | Bloomberg | Getty ImagesThe golden age of globalization has ended and a fundamental change to the way the world works is underway, said Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong. "Where previously the logic was, countries do not have to be friends to do business with one another. In fact, the hope was that the more we trade and invest in each other, we will tamp down geopolitical rivalry," Wong said. "The generation of Chinese born perhaps in the last generations, many of them idealized America and the American way of life.

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