“We must have enough resources” Heng Swee Keat stresses, listing 3 shifts Singapore must contend with

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Finance Minister Heng Swee Keat outlined three major shifts Singapore must contend with in the coming years, as he delivers Budget 2018 this afternoon.

First, the Minister said that there is a shift in global economic weights, with Asia playing a larger role in the global economy. The Minister then pointed to the emergence of new technologies as the second major shift that will challenge the economy.

The final major shift is demographic transition, particularly coping with the aging population in Singapore.

To cope with these shifts, the Budget will focus on the following four aims:

  1. To develop a vibrant and innovative economy
  2. To build a smart, green and liveable city
  3. To foster a caring and cohesive society
  4. To plan ahead for a fiscally sustainable and secure future

The Minister said that the economy must transform and stressed that we require more resources to cope with these challenges, amid greater geo-political competition.

His remarks appear to foreshadow the introduction of a tax hike, as predicted by numerous analysts in the run-up to the Budget.

19 COMMENTS

  1. Go to 10%, free medical for Singaporeans.

    You’d also see govt institutions suddenly paying good prices for its supplies, instead of getting ripped off by businesses set up to take advantage of grants.

  2. I work in Poly and notices lots of OLD STAFF do not know their STUFF.
    How can they still be EDUCATING IF they DO NOT know their stuff and MOE keeps increasing
    Tuition Fees?!

  3. so long minister lower their pay and temaesk don’t anyhow do investment and don’t be like big boss donate or give money out to other country than we will save lots of money. Also don’t spent on a rubbish bin few hundred thousand also save money.

    • Mr Mohan,it will take at least 100 man years to find out how this figure was arrived at.

      In the meantime we give sgd300 as GST vouchers,which is equivalent to 10 yrs of gst payments !!!

      This is the bitter medicine ,take it !!!

  4. 1) liquidate Temask and get the hell out of the private sector’s way
    2) stop building already and return some land to its natural state
    3) stop lecturing us as if we’re ignormaouses from backwater kampongs cleaning our feet from the fish slime
    4) give us our money from the surpluses and let us plan our fiscal sustainable and future. We’ll do it so much better with far less squandering

  5. We hired some of best brains in the world to manage our investments,yet we ‘lost’ billions ???

    How & where these billions were ‘lost’ ??

    Who is now holding these so called ‘lost’ investments ??
    Who are these companies who ‘bought’ our ‘bad’ investments & who are the directors/share holders of these companies??

    OR were they Siphoned off ??!!!

    No board of enquiries ????

  6. Please prepare $100 to $300 contributions to the coming wake of this Square Block Head & Pinky in Red Ang Pow & Lion Dance & not in White Envelope as Khama for going to cause the low income to bleed and very soon to their death bed with stress & depression which kills!

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