Annual Amount of Subsidies and Other Support Provided to Businesses in Past Three Years

6 Mr Liang Eng Hwa asked the Deputy Prime Minister and Minister for Finance in the past three years (a) what is the annual amount of public funds provided by the Government to businesses in the forms of subsidies and support; and (b) what is the amount of Government-backed financing extended to businesses.

Mr Lawrence Wong: The Government provided significantly more support to businesses in 2020 and 2021 due to COVID-19, than in 2019 before COVID-19. Table 1 below provides the breakdown for the past three years.