Channel NewsAsia

Budget 2014 to look at how to better support families: Josephine Teo

One of the priorities of Budget 2014 is to better support families in education and healthcare, said Senior Minister of State for Finance Josephine Teo.

SINGAPORE: One of the priorities of Budget 2014 is to better support families, said Senior Minister of State for Finance Josephine Teo.

She said this would include healthcare and supporting the efforts families are making towards their children's education - from preschool to tertiary levels.

Mrs Teo said: "In recent budgets and even in the National Day rally two years ago, Prime Minister had spoken about how we were putting in much more effort to organise our pre-school sector in a way that meets today's needs so I think some initial progress has been made in these areas and we will build on them."

She added: "Whilst supporting families includes helping where education is concerned, I think one other important aspect is how we can help with healthcare because that is always a concern where families with seniors are concerned.

"On these two fronts, I think it's an area that you will see more moves building on what has been done so far."

Mrs Teo was speaking to the Channel NewsAsia on the sidelines of an Edusave Awards presentation ceremony in her ward, Bishan North.

On helping businesses, she said the Budget is timely for the government to give an update on the progress in restructuring.

She said businesses have asked for the continuation of the Productivity and Innovation Credit scheme that allows local businesses to get tax deductions for investments to improve productivity.

Mrs Teo said the government is considering the merits of extending it.

She added that the feedback from businesses show they are finding the scheme helpful and are making moves to improve their productivity.

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