While the Budget this year is likely to revolve around the enhancing and strengthening of current policies to restructure the economy and pursue inclusive growth, the political environment has evolved in the last few years. More than ever, the body politic is becoming active, with citizens wanting a greater say in policymaking. The sanctity of the Budget statement must also mean that it should not be seen as a mere political tool but a statement on the Government's social policy and the society it envisions for Singapore.

Here, SMU Assistant Professor of Law and NMP Eugene Tan warns against creeping "short-termism". "A government needs to be popular in order to remain in power. So securing buy-in for the policies and plans is essential," he said. "But we need to resist short-changing ourselves by driving the Government of the day to become populist. It feels good in the short run but the larger pain will hit us for sure - it's not a question of whether but when."