On February 12, 2026, Lawrence Wong, the Prime Minister and concurrently the Minister for Finance of Singapore, presented the budget for the fiscal year 2026 in Parliament. During his speech, he unveiled a slew of initiatives aimed at fostering the growth of artificial intelligence (AI). Among these measures are the establishment of a National AI Council, which will be chaired by Wong himself; the expansion of the Corporate Innovation Scheme, enabling companies to claim tax deductions of up to S$50,000 per year for expenses related to AI; and the provision of support for employees to acquire AI skills by granting six months of complimentary access to cutting-edge AI tools for those enrolled in designated AI courses. Wong emphasized that these initiatives are designed to guarantee that AI is harnessed in a manner that safeguards national interests and the well-being of the people.