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DEPUTY Prime Minister Teo Chee Hean on Saturday called on Singaporeans to be realistic in their expectations of Budget goodies as, even in good years, it is important for the Government to save in readiness for future uncertainties.
After doing so, it will share the fruits of growth with the people, he said. 'We need to keep our expectations realistic. One of the reasons why we've been able to come through the financial crisis well is because we've always put some money aside. We've never spent everything that we have,' he said.
Mr Teo, who is also Defence Minister, was speaking at a Chinese New Year party in Pasir-Ris Punggol GRC where he is an MP, a week before the Government is due to unveil its Budget on Feb 18. He emphasised the crucial role the nation's reserves, built up over the years from Budget surpluses, had played in helping Singapore ride through the 2008 global financial crisis.
'It's really our reserves that gave us the confidence to come through this financial crisis the last round. Without that, we would have been very nervous. People would have lost faith in the Singapore dollar, we would not be sure that we can see our way through,' he said.
But he also assured Singaporeans that the Government would share the fruits of good growth.
'In a good year, we always put something aside, and what we have left over, we do a sharing of the growth with all our residents, particularly with the low-income and the senior citizens,' he added.
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_634438.html
