Singapore, 13 February 2026 – With Singapore’s fourth‑generation leadership now firmly at the helm, Budget 2026 marks a clear shift from broad‑based cushioning towards targeted support anchored in long‑term capacity building. As the first Budget of the new parliamentary term, it sets the tone for a more strategic integration of economic competitiveness and social resilience, rather than a return to overt redistribution.
This direction builds on policy frameworks already in motion, including the National AI Strategy, the Forward Singapore agenda and the Research, Innovation and Enterprise 2030 plan. The Economic Strategy Review’s mid‑term recommendations further sharpen this trajectory, calling for deeper skills development, stronger internationalisation, bolder risk‑taking and a broader range of quality jobs for Singaporeans. Budget 2026 translates these strategic intents into fiscal action across social support, competitiveness, AI‑enabled productivity, cost‑of‑living relief, climate policy and tax integrity.
From a social perspective, fiscal resources are deployed with greater precision. Broad‑based transfers introduced during periods of heightened inflation are being normalised, with assistance more sharply targeted at lower‑income households, seniors and vulnerable groups. Cost‑of‑living support remains, but within a disciplined framework calibrated to essential expenditures and a more benign inflation backdrop.
From an economic standpoint, the emphasis shifts to enabling firms to navigate a more uncertain global environment. Targeted support for productivity enhancement, business transformation and internationalisation—particularly for small and medium‑sized enterprises—takes precedence over blanket relief, alongside calibrated manpower policies to ease pinch points.
A notable feature of Budget 2026 is its focus on capital formation across the enterprise lifecycle. Enhancements to the Anchor Fund, the Equity Market Development Programme and Startup SG Equity signal a more integrated approach to supporting firms from startup through scale‑up to public markets. In parallel, artificial intelligence and workforce transformation form central pillars, with measures aimed at enterprise AI adoption, job redesign and coordinated AI skills development.
Taken together, Budget 2026 is a forward‑looking statement of intent: disciplined yet supportive, targeted yet inclusive, and oriented towards building an AI‑enabled, globally connected and resilient economy.
Read the full commentary at Singapore Budget 2026 Commentary by CLA Global TS.
WEBINAR – Equipping You With The Latest Industry Knowledge & Practices
Singapore Budget 2026 Highlights
Date: 17 March 2026
Time: 2.30pm to 4.00pm
Format: Virtual via Zoom
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Fees: FOC for CLA Global TS clients. S$80 for non-clients
Join us for our annual Budget Highlights webinar, where our tax specialists, led by the leaders of the CLA Global TS Tax Services team, will share insights on the national budget and key developments for 2026 that may affect businesses and individuals within our community and beyond.
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INSIGHTS – Gain insights from CLA Global TS leaders on their perspectives on the Singapore Budget 2026.
Henry Tan
Group CEO & Chief Innovation Officer, CLA Global TS
“Singapore’s Budget 2026 comes at a pivotal moment as we position ourselves for the next phase of economic growth amid global uncertainty, technological disruption, and shifting supply chains. The work of the Economic Strategy Review Committee is therefore both timely and critical. Its focus on competitiveness, enterprise transformation, and talent development must translate into bold, future-ready policies that strengthen our innovation ecosystem while ensuring resilience for our businesses. Beyond immediate support measures, this Budget should catalyse long-term value creation — investing in new growth sectors, deepening regional partnerships, and reinforcing Singapore’s standing as a trusted global business hub.
Equally important is accelerating AI adoption, particularly among SMEs, which form the backbone of our economy. While many recognise AI’s potential, barriers around cost, capability, and implementation remain. Budget 2026 should therefore prioritise practical enablement — from funding and shared digital infrastructure to workforce upskilling and advisory support — so SMEs can move from awareness to action. When effectively harnessed, AI will not only drive productivity but also unlock new business models, strengthen governance, and enhance global competitiveness. Empowering our SMEs through AI is not just a technology agenda; it is a national growth strategy.”
Lee Tze Shiong
Director, Assurance and Transformation & Quality, CLA Global TS
“Budget 2026 presents a timely opportunity to strengthen Singapore’s manpower landscape, particularly in addressing persistent talent‑hiring challenges faced by the accounting industry. The Budget should take into account the structural constraints and the shrinking pool of local accounting professionals. Targeted grants and incentives could be extended to employers to encourage the re‑engagement of retired professionals who are willing to continue contributing to the workforce, thereby retaining critical expertise within the industry.
With strong expectations for Budget 2026 to introduce initiatives that support businesses and workers in building artificial intelligence (AI) capabilities, this is especially timely for the accounting and audit sectors. Leveraging automation and AI to handle routine and repetitive tasks can significantly improve productivity while enhancing job satisfaction and the long‑term attractiveness of the profession.”
Edwin Leow
Co-Advisory Leader, Director, Head of Tax, CLA Global TS
“I appreciate the comprehensive and forward-looking set of measures introduced in this year’s Budget. The announcements reflect a thoughtful balance between addressing immediate cost-of-living pressures and preparing Singapore for long-term economic transformation. The expanded support for households, families, seniors, and workers demonstrates a strong commitment to social resilience, while initiatives to uplift wages, strengthen skills development, and enhance retirement adequacy show clear attention to the well-being of Singapore’s workforce.
At the same time, the Budget’s strong focus on innovation, enterprise growth, and AI-driven transformation signals a decisive move to position Singapore for the future. Investments in research, technology infrastructure, start-up development, and capital market competitiveness create a solid foundation for continued economic vitality. Measures encouraging green mobility and public health further show a holistic approach toward sustainability.
Overall, the Budget outlines a cohesive and future-ready plan that supports people, strengthens businesses, and accelerates national progress in an increasingly digital and dynamic world.”
Shaun Zheng
Director, Tax, CLA Global TS
“What stands out, amongst others, in Budget 2026 is how the S$1.5bn top‑up to the Anchor Fund, the additional S$1.5bn for the Equity Market Development Programme, and the S$1bn expansion of Startup SG Equity into growth‑stage investing work together to anchor businesses in Singapore across their full growth journey.
From early scaling, to access to growth capital, to deeper and more liquid public markets, these initiatives strengthen Singapore’s ability to retain companies as they grow, rather than seeing them relocate or list elsewhere. Over time, this builds a more durable ecosystem where enterprises can start, scale and stay anchored in Singapore, reinforcing the Republic’s position as a place not just to incorporate, but to grow and mature global businesses.”
Yu Shilong
Head of Consulting and Corporate Development Director, Management Consulting, CLA Global TS
“The Budget 2026 presents an opportunity to strategically position Singapore’s economy to be more resilient and to drive the next phase of growth in an increasingly fractured global landscape. A key priority is for organisations to boost productivity by building capabilities, investing in training and upskilling, and attracting and managing talent effectively.
It is also critical for enterprises to manage their financials and cash flows prudently, while investing in innovation, technology and artificial intelligence (AI) levers to transform and future‑proof their businesses for the long term. Market internationalisation and mergers and acquisitions (M&A) are important pathways for Singapore SMEs and start-ups to scale up and compete regionally and internationally.”
Pamela Chen
Director, Head of Internal Audit, Sustainability & Climate Change, CLA Global TS
Maria Teo
Associate Director, Sustainability & Climate Change Lead, Risk Advisory, CLA Global TS
“From a sustainability perspective, the Singapore Budget 2026 emphasises continuity and pragmatic progress. The steady carbon tax trajectory provides regulatory certainty, supporting long‑term business investments while signalling that emissions reductions will rely on complementary measures beyond pricing alone.
Commitments to renewable energy remain realistic, focusing on solar deployment, grid resilience, energy storage, and regional power integration to overcome domestic constraints. Overall, the Budget reflects Singapore’s measured, system‑focused approach, prioritising credible execution over headline ambition.”
