18 Feb '11, 8am

Budget 2011 Incomes to be raised by 30% over 10 years - Channel NewsAsia via @AddThis

SINGAPORE: Finance Minister Tharman Shanmugaratnam has laid out several factors to achieve an inclusive budget to strengthen Singapore's economy and society. One of them is to increase incomes for all Singaporeans by upgrading businesses and improving the economy. Singapore plans to raise incomes by 30 per cent in real terms over this decade. Mr Tharman said the nation has been fortunate to avoid a sustained decline in real incomes. In fact, the real incomes at the 20th percentile of workers have grown in Singapore over the last decade. For Singaporean households at the 20th percentile of incomes, real incomes increased by about eight per cent over the decade. Mr Tharman cited stronger income growth for median Singaporean households as well, as their real incomes grew by 21 per cent over the decade. Most of the growth was seen in the second half of the decade. Riding on th...

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

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