Did you catch the spectacular iridescent cloud yesterday? Alas I missed it because we were in Parliament listening to Heng Swee Keat deliver his #SGBudget2017 speech. We were all happy to see him back in the Chamber, after nearly a year’s absence.
Budget 2017 includes many measures to prepare ourselves to grow in the midst of uncertainty.
Immediate measures to boost the economy include corporate tax rebates for companies, helping SMEs to build their digital capabilities, and bringing forward $700mil of public sector projects to boost the construction industry.
Households and families get higher U-Save rebates, a one-off GST Voucher, enhanced Service & Conservancy Charges rebates, and increased CPF Housing Grants. This support will help people cope with the cost of living, including the higher water tariffs. Water is a precious and strategic resource which we must husband.
To realise a more inclusive society, Voluntary Welfare Organisations and charities will get more funding, and so will community and high performance sports.
To make Singapore greener, a new carbon tax on greenhouse emissions will take effect from 2019.
To transform our economy for the long haul, we will spend $2.4bil to implement the recommendations of the CFE Report (http://bit.ly/2lgmeQ2).
Find out more about these measures and watch the speech on the Singapore Budget website here: http://www.singaporebudget.gov.sg/
I recently posted about the achievements of young Singaporeans (bit.ly/2kk7xss, bit.ly/2lhNCNQ). They are creating new paths and crossing new frontiers that we did not even dream of. The budget will provide the resources to propel us forward. For Singapore to succeed, we need to work hard, and move forward together. – LHL
(Photo courtesy of Jacqueline Choo)
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