Singapore Budget 2013: Latest news

Singapore is no longer a developing economy.

  • FY2012 budget surplus higher at $3.9b. This is due to stamp duty and motor vehicle taxes.
  • Budget 2013 to have a surplus exceeding estimates a year ago ($1.3b or 0.4% of GDP). This year, the government expects a surplus of $3.9b or 1.1% of gdp. It's a short-term increase in revenues which we don't expect to be sustained.
  • Household incomes have risen. Adjusted for inflation, the median SG household income per member grew by 14% over last 5 years.
  • Workers in the lower ladder - security guards, cleaners, etc - had little or no rise in incomes over 5 years. But the schemes under Budget 2013 will help ensure that they will have increase, through programs like the Progressive Wage Model.
  • Singaporeans want a home with a strong Singaporean identity and sense of belonging, strong and robust economy, strong families where seniors can age with dignity, society that takes care of the disadvantaged -- according to Singapore conversation platforms
  • Bus capacity will be ramped up.
  • New lines will start operating and new trains will be added to existing lines
  • Governmentt will reduce the cost of household relative to income of young Singaporeans. HDB prices have been rising rapidly since 2009. 
  • "We have not yet achieved the level of productivity and income of a developed economy," DPM Tharman said.


More From Singapore Business Review
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3766-0.0016-0.12%
    USDSGD=X
    1.5388+0.0011+0.07%
    EURSGD=X
    2.0231-0.0031-0.15%
    GBPSGD=X
    79.8937-0.0686-0.09%
    SGDJPY=X
    5.6411+0.0061+0.11%
    SGDHKD=X
    2.9526-0.0168-0.57%
    SGDMYR=X
    9,840.7041-39.9336-0.40%
    SGDIDR=X
    4.7630+0.0048+0.10%
    SGDCNY=X
    0.9934+0.0018+0.18%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,225.90+2.10+0.17%
    GCM16.CMX
    16.46+0.20+1.22%
    SIN16.CMX
    82.23+2.07+2.59%
    ^XAU
    2.12+0.02+0.74%
    HGN16.CMX
    50.12+0.56+1.13%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.39-0.01
    ^FVX
    1.860.00
    ^TNX
    2.65+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.310.00+1.64%
    N21.SI
    0.112-0.002-1.75%
    40E.SI
    3.86+0.04+1.05%
    Z74.SI
    1.775-0.010-0.56%
    MC0.SI
    0.375+0.005+1.35%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.23+0.03+17.35%
    BER.SI
    0.12+0.02+14.29%
    T42.SI
    0.35+0.03+11.11%
    L5I.SI
    0.26+0.02+10.64%
    BKW.SI
    0.152+0.012+8.57%
    5OT.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.37-0.13-26.00%
    BKK.SI
    0.525-0.140-21.05%
    AWE.SI
    0.40-0.08-16.67%
    BLR.SI
    0.15-0.03-16.20%
    5PF.SI
    0.28-0.04-12.50%
    BOU.SI