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Prime Minister Lee Hsien Loong had said in his National Day Rally speech in August that as social spending inevitably rises, so will taxes - "certainly within" the next two decades.
Already, he had noted, the Republic is relying on its reserves - by spending part of the returns from investing them - to pay for benefits.
Accenture, however, suggested that a more efficient public sector could offset the increased expenditure - the Republic will need to improve its efficiency by 1.4 per cent annually through 2025.
Said the Managing Director of Accenture's Singapore and ASEAN office Teo Lay Lim: "In the face of the challenges posed by the ageing population and rising expectation for public services, improving public sector productivity is imperative to drive and sustain Singapore's economic growth."
The firm's head of ASEAN's health and public service business Peter Goh added that increasing public sector efficiency "gives government leaders an option beyond just the traditional choices of cutting services and raising revenue".
- http://www.todayonline.com/Singapore/EDC121030-0000019/Greying-population-could-cost-Govt-S$13b-more-by-2025
Already, he had noted, the Republic is relying on its reserves - by spending part of the returns from investing them - to pay for benefits.
Accenture, however, suggested that a more efficient public sector could offset the increased expenditure - the Republic will need to improve its efficiency by 1.4 per cent annually through 2025.
Said the Managing Director of Accenture's Singapore and ASEAN office Teo Lay Lim: "In the face of the challenges posed by the ageing population and rising expectation for public services, improving public sector productivity is imperative to drive and sustain Singapore's economic growth."
The firm's head of ASEAN's health and public service business Peter Goh added that increasing public sector efficiency "gives government leaders an option beyond just the traditional choices of cutting services and raising revenue".
- http://www.todayonline.com/Singapore/EDC121030-0000019/Greying-population-could-cost-Govt-S$13b-more-by-2025
