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SINGAPORE: Singapore's 2007 Budget, which was delivered by Second Finance Minister Tharman Shanmugaratnam earlier this month, has been described as a watershed one.
Kicking off the marathon budget debate in Parliament on Tuesday, Ang Mo Kio GRC MP, Inderjit Singh, who also heads the Parliamentary committee for Trade and Industry and Finance, said it is one of the best so far.
He added the Budget would be remembered for two significant changes in the government's mindset.
The first is the introduction of social safety nets for lower-income Singaporeans.
Mr Inderjit noted that social safety nets were almost a taboo in Singapore, but now there is the Workfare Income Supplement Scheme.
The second change is the particular focus on businesses, especially the small- and medium-sized enterprises which is a subject that the MP never fails to address every year.
He stressed the Budget would go a long way in making Singapore a competitive economy and an inclusive society.
Mr Inderjit said: "Many good words - a 'wow budget', a 'generous budget' and a 'a surprising budget' - have been used to describe this year's Budget. For me this is one of the best budgets I have seen since I entered Parliament in 1997."
- CNA/so
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