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
    1.3176-0.0097-0.73%
    USDSGD=X
    1.4454+0.0007+0.05%
    EURSGD=X
    2.0191-0.0021-0.11%
    GBPSGD=X
    90.2308+0.5035+0.56%
    SGDJPY=X
    5.8819+0.0426+0.73%
    SGDHKD=X
    2.6964+0.0257+0.96%
    SGDMYR=X
    9,806.3506+49.6846+0.51%
    SGDIDR=X
    4.7094+0.0237+0.51%
    SGDCNY=X
    1.0556+0.0136+1.30%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,211.80+8.60+0.71%
    GCM15.CMX
    16.60+0.21+1.29%
    SIK15.CMX
    74.16+2.48+3.46%
    ^XAU
    2.79+0.01+0.43%
    HGN15.CMX
    56.93-0.06-0.11%
    CLM15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.38+0.04
    ^FVX
    1.97+0.05
    ^TNX
    2.67+0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.2950.0000.00%
    5WA.SI
    0.865+0.015+1.76%
    N21.SI
    0.42-0.01-1.18%
    E5H.SI
    0.235+0.005+2.17%
    5GB.SI
    0.745-0.020-2.61%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.159+0.046+40.71%
    5IF.SI
    0.28+0.06+27.27%
    5OC.SI
    0.136+0.026+23.64%
    5UA.SI
    0.23+0.02+9.52%
    M11.SI
    0.24+0.02+9.09%
    5CF.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.188-0.052-21.67%
    5OF.SI
    0.089-0.016-15.24%
    S13.SI
    1.40-0.13-8.50%
    T14.SI
    0.325-0.030-8.45%
    T43.SI
    0.435-0.040-8.42%
    CH8.SI