Deputy Prime Minister (DPM) Lawrence Wong will retain his position as Finance Minister, after becoming Prime Minister (PM), according to the Prime Minister's Office (PMO)'s announcement on the Cabinet reshuffle on May 13, 2024.

Earlier on Apr. 16, 2024, DPM Wong said that "there should not be any major changes" for now as the system "works on the basis of continuity and progressive change" and some members had just been appointed "recently".

Besides PM Lee, the other ministers will continue to serve in their respective portfolios, DPM Wong said.

He added that he will only make “bigger changes” to his cabinet after the next general election.

New DPM Gan Kim Yong will also retain his position as Trade and Industry Minister

New Deputy Prime Minister, Gan Kim Yong, will also continue as Minister for Trade and Industry.

Gan will take over Wong as the Chairman of the Monetary Authority of Singapore, and assume responsibility for the Strategy Group within the PMO.

Then PM Lee was also Finance Minister in his first cabinet

Prime Minister Lee Hsien Loong also retained his finance portfolio when he first became Singapore's third PM in 2004.

PM Lee continued to deliver three more budgets before Tharman Shanmugaratnam delivered the next budget as second Finance Minister in 2007.

PM Lee relinquished the finance minister role on November 30 2007.

Top image by Mothership