Taxing the higher-income group and redistributing to the lower-income group – the Singapore experience

Income disparity has become an increasingly pressing issue for many countries, Professor Bernard Yeung from the National University of Singapore shared his intriguing observations on Singapore's efforts to address wealth inequality with participants in the last AGI Public Policy Seminar on May 3, 2023.

As policymakers worldwide struggle to find effective solutions, the Singaporean government appears to have discovered an approach that works for its unique context. Professor Yeung and his co-authors concluded that the taxation scheme Singapore implemented in 2016 has successfully redistributed wealth, albeit a modest amount, from the nation's wealthiest to low-income seniors.