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In the great words of Shining Dome Shamugaratman..........
Feb 23, 2010
Singapore Budget 2010
$7b boost for economy
By Zakir Hussain, Political Correspondent
THE Government yesterday unveiled a multi-billion-dollar plan to help companies and workers here work smarter, grow and become globally competitive.
If it is successful, Singapore could see a big leap in incomes and living standards, and become a major force in the explosive growth of Asia and other promising regions.
Delivering the annual Budget speech in Parliament yesterday, Finance Minister Tharman Shanmugaratnam said that although the rebound in the world economy had brightened the outlook considerably, Singapore must look beyond that.
'Our priority during last year's global crisis was to keep jobs. Our priority must now be to improve the quality of jobs,' he said.
'Raising skills and productivity is the only viable way we can achieve higher wages, and is the best way to help citizens with low incomes,' he added.
The key to doing this, Mr Tharman said, is in boosting productivity and managing the economy's dependence on foreign labour.
The aim of all this is to raise productivity growth by 1 per cent to 2 to 3 per cent within ten years - a target set three weeks ago by the high powered Economic Strategies Committee (ESC) of public and private sector leaders.
If Singapore achieves this, real income could rise by one third, said Mr Tharman.
Singapore Budget 2010
$7b boost for economy
By Zakir Hussain, Political Correspondent
THE Government yesterday unveiled a multi-billion-dollar plan to help companies and workers here work smarter, grow and become globally competitive.
If it is successful, Singapore could see a big leap in incomes and living standards, and become a major force in the explosive growth of Asia and other promising regions.
Delivering the annual Budget speech in Parliament yesterday, Finance Minister Tharman Shanmugaratnam said that although the rebound in the world economy had brightened the outlook considerably, Singapore must look beyond that.
'Our priority during last year's global crisis was to keep jobs. Our priority must now be to improve the quality of jobs,' he said.
'Raising skills and productivity is the only viable way we can achieve higher wages, and is the best way to help citizens with low incomes,' he added.
The key to doing this, Mr Tharman said, is in boosting productivity and managing the economy's dependence on foreign labour.
The aim of all this is to raise productivity growth by 1 per cent to 2 to 3 per cent within ten years - a target set three weeks ago by the high powered Economic Strategies Committee (ESC) of public and private sector leaders.
If Singapore achieves this, real income could rise by one third, said Mr Tharman.
