Budget 2024: More Details on Budget Estimates

Chairman,

In the 1970s, MOF provided the House with detailed breakdowns of the fees and taxes collected. For example, we know that in 1972, the Government collected about $190,000 in car park fines. The information provided today is much less detailed in comparison. I would like to use my cut today to ask for more detailed information on the revenue and expenditure estimates.

 First, on revenue.

  • What are the taxes lumped together under “Other Taxes”, account code B90? This item has increased from an estimate of $6.3 billion to a revised estimate of $8.44 billion. What are the reasons for this increase? Why does MOF not provide a breakdown of these taxes, given the sizeable amount?
  • What is the estimated amount of levy collected for Work Permit, S Pass and Migrant Domestic Workers respectively in 2023 and 2024?
  • What is the account code for ERP revenue and what was the estimated amount collected?
  • What are the reasons for the significant increase in corporate income tax from 2022 to 2023 of about $5 billion?
  • Why is there a significant estimated increase in property tax collected for private properties of $753 million in 2024 despite the upward revision of the Annual Value bands announced in Budget 2024?
  • Why is there a big estimated increase in land sale revenue from $18 billion in 2023 to $31 billion in 2024?

 Next, on expenditures.

  • How much has been disbursed to SPH Media Trust in 2023 and how much estimated for 2024?
  • What are the HDB deficits for 2023 and 2024?
  • How much was spent by Ministers travelling overseas to fulfil the obligations of their international appointments in their private capacity in 2022 and 2023?
  • How many ongoing development projects have cumulative investment of more than $1 billion?
  • How many projects with total investments of more than $1 billion are expected to be initiated in 2024?

 Finally, what has been the amount invested by MOF as capital injections into Temasek Holdings in 2023 and 2024, and why is this not accounted for as a separate line item?

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