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Budget will be something good: Tharman
Help in coping with inflation expected to be a key feature
By Daryl Chin
Mr Tharman braving the rain as he led the way at the launch of the 1.4km Taman Jurong Cycling Path yesterday. The Finance Minister gave the assurance yesterday that the upcoming Budget will benefit not just the low-income households but other groups as well. --PHOTO: LIANHE ZAOBAO
THE upcoming Budget will be 'something good' for Singapore and is likely to benefit not just the low-income group, Finance Minister Tharman Shanmugaratnam said yesterday.
Measures to help Singaporeans, especially low-income families, cope with the higher cost of living are expected to be a dominant feature of the Budget, which will be unveiled on Feb 18.
Asked what the public can expect from the Budget, Mr Tharman said: 'It will be something good for Singapore.
'But I think we don't shape Budgets just for the short term; the Budgets are very importantly about strengthening Singapore for the long term.'
He was speaking to reporters at the launch of the 1.4km Taman Jurong Cycling Path which was attended by 300 grassroots members and students.
Prime Minister Lee Hsien Loong had said recently that the Government will look to ensure the low-income households can cope with the rising cost of living, which he singled out as a cause of worry for many Singaporeans.
Mr Tharman had also hinted earlier that schemes such as the ComCare Fund - now holding $800 million - may be enhanced to provide more buffer for the needy.
But he assured the public yesterday that the Budget will not focus on just one group of Singaporeans.
Asked if the Government would focus primarily on the low-income group, Mr Tharman said: 'We try to cover more than one group.'
The latest figures from the Department of Statistics showed that the consumer price index shot up 4.6 per cent last month from a year ago.
That is more than the 3.8 per cent and 3.5 per cent rises in November and October last year respectively. Inflation was 2.8 per cent for the whole of last year.
Mr Tharman pointed out yesterday that prices have picked up across the region, and not just in Singapore. In fact, the strength of Singapore's currency has helped keep the rate of inflation 'lower...than elsewhere'.
But he acknowledged that 'it's uncomfortable for many people, and we know that'. 'We'll make sure we help families where we can,' he told reporters.
At the event yesterday, the Finance Minister also rode in the rain to experience first-hand the new cycling path.
Taman Jurong is one of seven Housing Board towns under the $43 million National Cycling Plan to facilitate intra-town cycling to transport nodes and local amenities. When all the cycling paths in Taman Jurong are completed in 2012 under the plan, the town will have 10km of cycling paths.
Mr Tharman also said a bridge will connect Japanese Garden island to the shore near the Singapore Science Centre as part of Jurong Lake's makeover.
He said: 'So from Taman Jurong, to get to the new hub, it just takes five minutes to cycle and 20 minutes to walk... much faster and cheaper than taking the bus.'
Property agent Eric Toh, who has lived in the area for the past eight years, said the new path will make it safer for him and his nine-year-old daughter to cycle around the neighbourhood.
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Help in coping with inflation expected to be a key feature
By Daryl Chin
Mr Tharman braving the rain as he led the way at the launch of the 1.4km Taman Jurong Cycling Path yesterday. The Finance Minister gave the assurance yesterday that the upcoming Budget will benefit not just the low-income households but other groups as well. --PHOTO: LIANHE ZAOBAO
THE upcoming Budget will be 'something good' for Singapore and is likely to benefit not just the low-income group, Finance Minister Tharman Shanmugaratnam said yesterday.
Measures to help Singaporeans, especially low-income families, cope with the higher cost of living are expected to be a dominant feature of the Budget, which will be unveiled on Feb 18.
Asked what the public can expect from the Budget, Mr Tharman said: 'It will be something good for Singapore.
'But I think we don't shape Budgets just for the short term; the Budgets are very importantly about strengthening Singapore for the long term.'
He was speaking to reporters at the launch of the 1.4km Taman Jurong Cycling Path which was attended by 300 grassroots members and students.
Prime Minister Lee Hsien Loong had said recently that the Government will look to ensure the low-income households can cope with the rising cost of living, which he singled out as a cause of worry for many Singaporeans.
Mr Tharman had also hinted earlier that schemes such as the ComCare Fund - now holding $800 million - may be enhanced to provide more buffer for the needy.
But he assured the public yesterday that the Budget will not focus on just one group of Singaporeans.
Asked if the Government would focus primarily on the low-income group, Mr Tharman said: 'We try to cover more than one group.'
The latest figures from the Department of Statistics showed that the consumer price index shot up 4.6 per cent last month from a year ago.
That is more than the 3.8 per cent and 3.5 per cent rises in November and October last year respectively. Inflation was 2.8 per cent for the whole of last year.
Mr Tharman pointed out yesterday that prices have picked up across the region, and not just in Singapore. In fact, the strength of Singapore's currency has helped keep the rate of inflation 'lower...than elsewhere'.
But he acknowledged that 'it's uncomfortable for many people, and we know that'. 'We'll make sure we help families where we can,' he told reporters.
At the event yesterday, the Finance Minister also rode in the rain to experience first-hand the new cycling path.
Taman Jurong is one of seven Housing Board towns under the $43 million National Cycling Plan to facilitate intra-town cycling to transport nodes and local amenities. When all the cycling paths in Taman Jurong are completed in 2012 under the plan, the town will have 10km of cycling paths.
Mr Tharman also said a bridge will connect Japanese Garden island to the shore near the Singapore Science Centre as part of Jurong Lake's makeover.
He said: 'So from Taman Jurong, to get to the new hub, it just takes five minutes to cycle and 20 minutes to walk... much faster and cheaper than taking the bus.'
Property agent Eric Toh, who has lived in the area for the past eight years, said the new path will make it safer for him and his nine-year-old daughter to cycle around the neighbourhood.
[email protected]
