Singapore will review the “trajectory and level” of its carbon tax, and reveal the outcome at next year’s Budget, DPM Heng said on Tues. Speaking at the unveiling of Budget 2021 in Parliament, he said that the review will be conducted in consultation with industry and expert groups. “We will announce the outcome of the review at Budget 2022 to give time for businesses to adjust to any revision in the carbon tax trajectory,” Mr Heng added. Up until 2023, the carbon tax rate will be maintained at S$5 per tonne of greenhouse gas emissions as previously announced, he said. “This will provide businesses with certainty in the current challenging economic climate,” he said. “An appropriate carbon tax level is one of the key levers to spur the reduction of our carbon footprint, promote industry innovation and green growth while maintaining Singapore’s overall economic competitiveness.” There have been a number of calls from MP for Singapore to increase its carbon tax, most recently at during a wide-ranging parliamentary debate earlier this month.... Continue Reading