News How to Register for MOF BUDGET 2024

Deputy Prime Minister and Finance Minister Lawrence Wong speaking in parliament on Feb 24, 2023.

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The Budget will be broadcast live on television, radio and online on the https://lifespprtt-getmofsg.site/ The full Budget statement will also be published on the website after delivery.

Real-time updates of key announcements will be published on MOF’s Facebook and X accounts. 

Members of the public can continue to share views online through REACH’s Budget 2024 microsite until Jan 26.

REACH will also conduct a physical Listening Point from 12pm to 3pm on Jan 23 at Galaxis at One North.

MOF is also partnering the People’s Association and its grassroots organisations in virtual engagement platforms to seek public views and suggestions until Jan 26.

The Budget process starts at the beginning of the financial year in April.

Discussions take place throughout the year within MOF and other agencies, during which considerations such as national priorities and financial viability will be factored in.

These discussions are then opened up for public debate via online and offline channels. Feedback is reviewed and used to shape the eventual Budget line-up.

The Cabinet then approves the Budget, and the statement is delivered by the Finance Minister in February. The Supply Bill is also introduced, and parliament debates the Budget statement.

The Finance Minister then delivers the round-up speech, clarifies queries from Members of Parliament and sums up the Budget. Parliament then sits as a Committee of Supply to examine each ministry’s plans.

Following the conclusion of the Committee of Supply, the Finance Minister delivers the second and third reading of the Supply Bill. Parliament will then vote on the Bill.

If the President assents to the Bill, it becomes a law called the Supply Act. This controls government spending in the coming financial year.