12 Feb '11, 12pm

[CNA] Lift upgrade 'hong bao' for Pasir Ris residents

SINGAPORE: Deputy Prime Minister and Defence Minister Teo Chee Hean said Singaporeans should be realistic in their expectations of the upcoming Budget. His comments come ahead of Budget 2011, which will be delivered on February 18, where many people are expecting some form of handout from the government because the economy did well last year. Mr Teo said the country still needs to keep a certain amount of reserves in case of rainy days and reminded Singaporeans that it was the reserves that helped Singapore come out of the recent financial crisis well. "I think we need to keep our expectations realistic. This year the economy has done well...but it doesn't mean we will give everything away, it's not possible. We need to make sure we always put something aside, in readiness for any kinds of uncertainty that may come out in the future." Mr Teo was speaking at a Lunar New Yea...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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