24 March 2016 Singapore Budget

[jetsetter]

what hongbaos are you looking for?

[starlight1968sg]

what hongbaos are you looking for?

as mentioned in the news, hongbaos are unlikely but still hoping to hv some utilities rebates, seniors getting some $$ or top-up in their medisave a/c.
For working pple, of cse will belowering income tax rates etc.

[janet88]

what hongbaos are you looking for?

as mentioned in the news, hongbaos are unlikely but still hoping to hv some utilities rebates, seniors getting some $$ or top-up in their medisave a/c.

cash rebate would be nice. still hoping.

[3Boys]

what hongbaos are you looking for?

as mentioned in the news, hongbaos are unlikely but still hoping to hv some utilities rebates, seniors getting some $$ or top-up in their medisave a/c.
For working pple, of cse will belowering income tax rates etc.

We are sort of moving leftwards you know, i.e. more social spending etc. In that light, I think raising income taxes is probably the right thing to do.

[3Boys]

I am pretty nervous about the G embarking on long term deficit spending. I really hope for a balanced budget going forwards, don't want to mortgage the future of our children.

Here is the report for last year -->
http://www.singaporebudget.gov.sg/data/ ... diture.pdf

My simplistic read of this is that we were in primary deficit to the tune of about $4 bn and overall in deficit about $6.6 bn. Not sure how sustainable this is.

[3Boys]

I am pretty nervous about the G embarking on long term deficit spending. I really hope for a balanced budget going forwards, don't want to mortgage the future of our children.

Here is the report for last year -->
http://www.singaporebudget.gov.sg/data/ ... diture.pdf

My simplistic read of this is that we were in primary deficit to the tune of about $4 bn and overall in deficit about $6.6 bn. Not sure how sustainable this is.

For context, our primary deficit runs at about 1% of GDP, whilst overall deficit runs at about 1.7%. For Eurozone countries in some distress, here is some contextual information --> http://www.ft.com/cms/s/0/518c1c04-83ce ... z42IDb0drP

I reckon 3% is considered bad. Not sure if they are entirely apples to apples, would be happy if someone can illuminate.

[pirate]

Have to balance this year. All the past term surpluses went into reserves after GE.

Unless want to ask President so early in the term...

[3Boys]

Have to balance this year. All the past term surpluses went into reserves after GE.

Unless want to ask President so early in the term...

Just curious, how do you mean?

[KSP]

will there be a tweak in the COE/Car ownership system?

[pirate]

Have to balance this year. All the past term surpluses went into reserves after GE.

Unless want to ask President so early in the term...

Just curious, how do you mean?

The budget surpluses at the end of each term of government are transferred into past reserves. After each GE, we have a new term. As this is the first year of the current term, any budget deficit must dip into past reserves since the present term has not accumulated any budget surpluses yet. Must get Presidential assent in order to dip into past reserves.

See answer to "What happens to the Government's budget surplus?"

http://www.ifaq.gov.sg/MOF/apps/fcd_faq ... D#FAQ_1524