Budget

PSP Releases Their Economic Policy Proposal Ahead Of Budget 2020

PSP Releases Their Economic Policy Proposal Ahead Of Budget 2020

Among its economic policies were a "No To A GST Hike policy, as well as indicating that long term infrastructure projects in Singapore should no come at the expanse of an increase in taxes. PSP has said that they propose against raising any taxes or any other fees for the next five years, as Singapore has a strong financial standing to alleviate any costs to the citizens. PSP also said that long-term infrastructural projects, such as Changi Airport Terminal 5, should be based on the private firms' own financial and commercial merit, and not require tax increases to fund them.

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S'PORE HAS $190 BILLION BUDGET CASH SURPLUS YET PAP MP CALL FOR FISCAL PRUDENCE?

But even as Singapore doubles down on investments to help businesses and workers transform, as well as continue social spending and infrastructure developments, some MPs have voiced concerns about overspending. In this connection, I added up the Budget surpluses/deficits from 1997 to 2016 using the chart in the Straits Times (5o years of the Singapore Budget). The total Budget surpluses and deficits were $44.5 and -$13.4 billion, respectively. This means that the net Budget surpluses from 1997 to 2016 is $31.1 billion ($44.5 – $13.4). Do you think that we should be emphasising so much on the need for fiscal prudence in the Parliamentary debate on the Budget?

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BUDGET ANNOUNCEMENTS TODAY, SO GOODIES NOW, END OF YEAR PRICES GO UP AGAIN?

The Finance Minister will definitely name you handouts, that will cover Singpaoreans from all walks of life. But, how long before the sweeteners got turned into other price increases? Already ERP charges going up in several areas. Service and Conservnacy Charges also going up. So, next, our public transport fares also going up? After all, many people are happy with the public transport, right?

Only thing you can be sure of is this. Your salary, even if they do go up, will be minimal compared to other costs rising around us. This is Singapore.

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GOVT SPENDS $46,300 ON EACH OF THE 7000 SEA GAMES PARTICIPANTS

With that experience, the current budget of $324.5m is just about there, about right. With 7000 athletes and officials, it would mean the Games will cost $46,300 per participants for the duration of 12 days. Or for each day, it will cost about $4,000 to host a participant. Cheap, quite cheap really. If each participant were to spend $1,000 a day, the net loss will be $3,000 daily per participant.

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MALAYSIAN SUSPENDS NATIONAL SERVICE TO SAVE $400 MILLION RINGGIT

Malaysian Prime Minister announced during his budget speech that the National Service programme will be stopped this year to save RM400 million in federal spending. He also added that grants to GLCs, federal statutory bodies and government trust funds will be reduced, resulting in savings of about RM3.2 billion.

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NDP Website is an Epic Embarrassment

I don’t normally want to criticise websites, but I’ve heard so many complaints about our National Day Parade (NDP) websiteand I can’t help but agree with them. It’s almost a national embarrassment that a country with such advanced and developed infocommunications capabilities could not find someone better to showcase its most important national event on the Internet.

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