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Where Does Your Money Go? The Tough Talk About SG Budget [Chills 215 ft MOF Budget Directors]

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Curious how Singapore’s annual Budget comes to life? Tune in as our hosts Reggie and Adrian, author of “No More Bosses,” dive deep with two top minds from the Ministry of Finance (MOF):

  • Lim Ming Jing (Director, Social Programmes) and
  • John Koh (Budget 2025 Director and concurrently Director, Security & Resilience Programmes)

What’s in store?

  • Behind-the-scenes revelations on balancing immediate concerns (think CDC vouchers!) with longer-term nation-building.
  • Why vouchers over cash?
  • The story behind SkillsFuture’s evolution—and how your feedback shapes policies.
  • "Theory of Change": How ministries pitch ideas (and why some get funded while others don’t).
  • Candid takes on taxing wealth, ageing populations, and why your family’s income matters more than you think.

Ming Jing and John pull back the curtain on the gritty realities of policy-making—from managing public concerns to competing global pressures. Whether you’re a policy nerd or just want to know where your tax dollars go, this episode is packed with aha moments you won’t hear anywhere else. Tune in for a masterclass in governance—and find out why even middle-class Singaporeans might rethink their gripes about the Budget.

What We Discuss:

  • 04:28 - How does Singapore’s Budget come together with so many demands
  • 08:47 - What feedback shaped this year’s Budget, and what’s next?
  • 19:10 - Why are some policies tied to individuals while others to a household unit?
  • 24:08 - How does MOF decide what to allocate, and ensure it’s not over or under allocated
  • 29:19 - How does MOF view calls for expanded social policies like CPF Life or MediShield Coverage?
  • 31:09 - Why has the government prioritised GST to fund increased social spending
  • 36:29 - What is the Government’s approach on wealth taxation?

Episode Resources:


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