18 Feb '11, 9am

#Singapore: Personal incomes to rise 30% over 10 years: THE government will aim to increase the personal income

#Singapore: Personal incomes to rise 30% over 10 years: THE government will aim to increase the personal income

Mr Shanmugaratnam said Singapore will add $1 billion to its National Productivity Fund, doubling its size to the target $2 billion. -- ST PHOTO: CAROLINE CHIA THE government will aim to increase the personal income of Singaporeans by 10 per cent, over 10 years. In his budget speech on Friday, Finance Minister Tharman Shanmugaratnam said Singapore will add $1 billion to its National Productivity Fund, doubling its size to the target $2 billion. Mr Shanmugaratnam said the aim is to improve productivity by 2 per cent to 3 per cent a year, hence, 30 per cent over 10 years. Productivity gains need to contribute two-thirds of Singapore's economic growth in the next decade, a 'challenging target' Mr Shanmugaratnam conceded. Mr Shanmugaratnam added that the budget will also encourage companies to invest in workers' skills and productivity. All things considered, does Budget 2011 m...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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