[1] Wong made his political debut in the 2011 general election where he contested in West Coast GRC as part of a five-member PAP team and won.

[3] As Minister for Finance, he has overseen the gradual increase in Goods and Services Tax (GST) which Lee's government has advocated for – 8% in 2023 and 9% in 2024, up from 7% which had been set since 2007.

[4] Wong assumed the office of Deputy Prime Minister of Singapore on 13 June 2022, serving alongside Heng Swee Keat.

[9][10] Growing up, Wong and his family lived in a public Housing and Development Board (HDB) flat in Marine Parade.

[18] It was the beginning of the 1997 Asian financial crisis and his first assignment involved preparing a report on regional economies and their effects on Singapore.

[18] Wong entered politics at the 2011 general election when he contested as part of a five-member People's Action Party (PAP) team in West Coast GRC.

The PAP team won with 66.66% of the vote against the Reform Party and Wong was elected as the Member of Parliament representing the Boon Lay ward of West Coast GRC.

[28] Wong was also appointed as the Head of the SG50 Programme Office that coordinates the work of five committees for Singapore's Golden Jubilee Year celebrations.

Wong addressed the issue in Parliament, saying that the project was at acceptable cost due to the need for extensive study of the location and technicality involved with the building of the refuse centre in the Civic District.

[35][36][37] In the 2015 general election, Wong was part of a four-member PAP team contesting in the newly formed Marsiling–Yew Tee GRC.

[38] The PAP team won with 68.7% of the vote against the Singapore Democratic Party and Wong was elected as the Member of Parliament representing the Limbang ward of Marsiling–Yew Tee GRC.

[20][48] During the COVID-19 pandemic in Singapore, Wong and Gan Kim Yong were appointed co-chairs of a multi-ministerial committee formed by the government in January 2020 to manage the situation.

On 26 March 2020, while paying tribute to frontline workers helping in Singapore's fight against COVID-19, Wong turned emotional and teary-eyed while delivering his address in Parliament.

He thanked healthcare workers, as well as those working in cleaning, transport and security sectors for providing much-needed services to keep Singapore going during this difficult time.

The PAP team won with 63.18% of the vote against the Singapore Democratic Party and Wong retained his seat as the Member of Parliament representing Limbang ward.

[51] On 8 November that year, Wong was elected into the PAP's Central Executive Committee for the first time after rising to prominence for leading the Government's fight against COVID-19.

[56] Later in June 2022, Wong announced another $1.5 billion support package to provide targeted relief for lower-income and vulnerable groups.

[58] In September 2023, Wong announced an additional $1.1 billion Cost-of-Living (COL) Support Package to provide more relief for Singaporean households, especial lower- to middle-income families.

[62] Wong received an "overwhelming majority" of support in the consultation process, surpassing that of Ong Ye Kung and Chan Chun Sing, his cabinet colleagues and co-contestants in the 4G leadership race.

[75] Wong subsequently emerged as Lee's apparent successor to the position of prime minister; the latter's initial plan to step down at the age of 70 had been complicated by Heng's withdrawal.

[88][89] His second wife is Tiffany Loo Tze Lui, a former banker currently working in wealth management and who served on the board of directors of YMCA Singapore.