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Budget 2015: It's for building S'pore's future

This year's Budget will be one that addresses the needs, today and tomorrow, of all Singaporeans - the young, the middle-aged and the seniors.

Deputy Prime Minister Tharman Shanmugaratnam said this yesterday at a National University of Singapore event, reported The Straits Times online.

He said: "This year's Budget comes with our 50th anniversary. It will be a Budget about today and tomorrow. It is basically a Budget that's about building Singapore's future."

For the seniors, especially the lower-income ones, there will be help to give them greater assurance in their retirement.

Mr Tharman, who is also Finance Minister, said the Government is in the final phases of shaping the Silver Support Scheme, which was first announced by Prime Minister Lee Hsien Loong at last year's National Day Rally.

Under the scheme, needy elderly Singaporeans from the age of 65 will receive annual payouts to help them with their living expenses.

The scheme targets those who have little savings in their Central Provident Fund accounts, do not own Housing Board flats and lack family support.

More details are expected to be announced at this year's Budget Speech.

There will also be something for mid-career Singaporeans.

CAREERS

Mr Tharman said: "They want good careers, they want fulfilment in their careers. We've always got to look to the future... equip them with the capabilities and expertise that they need to do well, individually as well as collectively."

He also stressed that the budget initiatives will not stand on their own, adding: "It is a continuation of what we have been doing in the past and in the last five years especially. We have taken steps that are significantly transforming our economic and social landscapes."

The Budget Speech will be delivered on Feb 23.

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