27 Feb '11, 10pm

Parliament begins debate on Budget Statement on Monday

SINGAPORE: Parliament begins its annual two-week-long debate on the Budget Statement on Monday. MPs will first debate the main budget speech presented by Finance Minister Tharman Shanmugaratnam before scrutinising those for the various ministries, starting off with the Prime Minister's Office. Singapore has earmarked over S$13 billion in benefits for households and businesses in this year's budget. Mr Tharman told Parliament during Budget day on February 18 the measures are aimed at helping Singaporeans cope with rising costs in the short-term, as well as make the economy more competitive in the long-run. Singaporean families can expect to receive benefits amounting to S$6.6 billion, and the measures for businesses will cost the government about S$6.5 billion. One key change this year was the introduction of a more progressive personal tax schedule, which will help lower t...

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

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