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Budget to focus on attracting investments, easing impact of inflation
By May Wong, Channel NewsAsia | Posted: 02 February 2008 2143 hrs

 
 
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SINGAPORE : This year's Budget statement will likely focus on continuing to make Singapore attractive to investors, while introducing measures to help the citizens cope with challenges like higher costs of living.

Minister of State Lim Hwee Hua said this on Saturday when she spoke to reporters at a forum on rising costs.

From dining out to using the air-conditioner, Singaporeans are complaining that all these are costing them more money today, partly due to higher oil prices globally.

And participants at the forum called for more assistance targeted especially at the middle-income earners.

Mrs Lim says: "We just have to ensure that we maximise their employment and economic potential. Because with the income generating ability, then they can actually map their own expectations and they can live their own lifestyles according to what they can afford.

"We can help in terms of tweaking some of the schemes to ensure that we cover some of these specific situation - like having three generations (staying together) or having to cope with larger than expected cost of living in certain areas. I think we should certainly take that on board and see how best we can refine some of the criteria itself."

One of the forum speakers also suggested the government look at a calibrated approach for its assistance packages.

Dr Tan Ern Ser, Sociologist, NUS, says: "Instead of having a case of giving or not giving, we should give less, or give more on a sliding scale, whatever the case may be. We should continue to use this principle as a way to ensure that everybody gets a piece of the pie in terms of whatever handouts or welfare policies."

The prices of food are up, so what is the government doing to help?

And what is considered middle income?

These were just some of the questions the participants were interested in.

And Mrs Lim said this is a positive sign which shows that the young Singaporeans are concerned about the cost of living and would certainly like to have a better understanding on how they can adjust to the economic changes.

So come Budget Day on 15 February, Mrs Lim said it would not just be about building Singapore's competitive edge.

Mrs Lim says: "At the same time, we will continue to have a focus on what would be measures to address the present day challenges or challenges that could be specific to certain circumstances."

Some 100 youths, aged between 20 and 35 attended the forum, organised by the People's Association Youth Movement. - CNA/ch

 


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