27 Feb '11, 10pm

Commentary: Keep our economic model, but ensure minimal standard of living

As I thought about last week's Budget statement, a quote by Albert Einstein kept playing in my head. The pre-eminent genius of the 20th Century once said: "The definition of insanity is doing the same thing over and over again and expecting different results." I am of course not suggesting in any way that the Government is mad, but what struck me most about the Budget - which Parliament will debate today - was that it was pretty much more of the same, albeit "upsized" for the anticipated elections: More ad hoc special transfer payments to help the low-income, more tax incentives to increase productivity, more funding for training and research and development, so on and so forth. Finance Minister Tharman Shanmugaratnam said that Singapore's approach to helping the low-income must "remain centred on opportunities, not entitlements". Many Singaporeans would agree with this, a...

Full article: http://www.todayonline.com/Singapore/EDC110228-0000146/Ro...

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