03 Mar '11, 2am

Fiscal steps kept finances sound during crisis: SOME nifty fiscal footwork allowed Singapore to meet its growing...

SOME nifty fiscal footwork allowed Singapore to meet its growing spending needs and keep its finances sound even during the recent financial crisis. One such manoeuvre was to raise the goods and services tax (GST) from 5 per cent to 7 per cent in 2007, Finance Minister Tharman Shanmugaratnam said in Parliament yesterday. The other was to change the Constitution to allow the Government to spend more of its investment returns on the reserves under the Net Investment Returns (NIR) framework, put in place in 2009. These two moves helped Singapore pull through the recent crisis better than other advanced economies did, said Mr Tharman. 'We were fortunate that we had done this in time, ahead of the financial and economic crisis in 2008 to 2009. 'We raised the GST when we were not under strain. It allowed us to provide a strong package to fully offset the impact of the GST increa...

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

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S'pore steps up recycling effort

S'pore steps up recycling effort

channelnewsasia.com 04 Mar '11, 8am

SINGAPORE: Singapore will enhance its National Recycling Programme (NRP) by providing one recycling bin for every HDB bloc...