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Singaporeans to get 20% income tax rebate, capped at $2000, for assessment year 2008.
Estate Duty abolished with effect from 15 February 2008.
Singapore enjoyed real growth of 7.7% in 2007.
There was an overall budget surplus of S$6.4b as a result of the strong economy and property market.
Government spending on universities to increase by S$500m annually.
Some $1 billion worth of projects will be deferred along with earlier deferment of some $2 billion worth of Government projects to ease the pressure on construction costs.
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