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Be realistic about Budget goodies: DPM Teo
By Teo Wan Gek
Deputy Prime Minister Teo Chee Hean yesterday 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.
'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 out 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.
Prime Minister Lee Hsien Loong and Finance Minister Tharman Shanmugaratnam had earlier assured Singaporeans that the Budget would include measures to mitigate the impact of inflation, especially on low-income families.
On the upcoming General Election, Mr Teo urged Singaporeans to look at the PAP's track record over the entire five-year period since the last polls, when casting their votes.
'That's the important thing, whether you can place your trust in the candidates who are offering to serve you, not just for your constituency, but also for the country.'
He was asked if he expected changes to his GRC in the report that the Electoral Boundaries Review Committee is due to issue. The report maps out the constituencies and their boundaries for the next election.
Mr Teo said Pasir Ris-Punggol GRC has been 'the fastest-growing GRC' of the 14 islandwide.
'We're already a six-man GRC. And since the last election, we've had a lot of new flats come up in the Buangkok station area and the Punggol 21 area. We want to make sure that we can serve our residents well, so we'll have to wait and see what the boundaries commission comes up with,' he said.
By Teo Wan Gek
Deputy Prime Minister Teo Chee Hean yesterday 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.
'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 out 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.
Prime Minister Lee Hsien Loong and Finance Minister Tharman Shanmugaratnam had earlier assured Singaporeans that the Budget would include measures to mitigate the impact of inflation, especially on low-income families.
On the upcoming General Election, Mr Teo urged Singaporeans to look at the PAP's track record over the entire five-year period since the last polls, when casting their votes.
'That's the important thing, whether you can place your trust in the candidates who are offering to serve you, not just for your constituency, but also for the country.'
He was asked if he expected changes to his GRC in the report that the Electoral Boundaries Review Committee is due to issue. The report maps out the constituencies and their boundaries for the next election.
Mr Teo said Pasir Ris-Punggol GRC has been 'the fastest-growing GRC' of the 14 islandwide.
'We're already a six-man GRC. And since the last election, we've had a lot of new flats come up in the Buangkok station area and the Punggol 21 area. We want to make sure that we can serve our residents well, so we'll have to wait and see what the boundaries commission comes up with,' he said.
