Singapore Expects About S$1b Revenue From Carbon Tax by 2024

Singapore expects to collect carbon tax revenue of about S$1 billion in the first five years after initially introducing it in 2019, Minister for Sustainability and the Environment Grace Fu said in a Parliamentary reply.

• The country is prepared to spend more than this amount on worthwhile projects which deliver emissions abatement and further reduce carbon emissions, Fu said.
• She added that the government doesn’t ring-fence sources of fiscal revenue for specific purposes so as to allow flexibility in allocating resources to priority areas
• NOTE: Singapore Minister Hints at Carbon Tax Rate Rise: Straits Times

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