02 Mar '11, 10pm

Expenditure to go up as Govt plans more future investments

SINGAPORE - Over the next five years, the Government's expenditure will inch upwards as it ploughs more investments in the Republic's future. And Finance Minister Tharman Shanmugaratnam assured the House yesterday that the higher expenditure will come on the back on increased revenues, as well as changes to the Net Investment Returns (NIR) framework and the Goods and Services Tax (GST) hike in 2007 which will provide the Government with greater financial muscle. The Government's expenditure is expected to go up from 16 per cent to 16.5 per cent of the gross domestic product (GDP) between this year and 2016. Responding to East Coast GRC MP Jessica Tan's question on whether Government revenues would be sufficient to meet the expenditure, Mr Shanmugaratnam noted that the amended NIR framework provides an income stream of around 2 per cent of GDP per year, while GST is likely ...

Full article: http://www.todayonline.com/Singapore/EDC110303-0000205/Ex...

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