Singapore Budget 2009 - Good enough?

[soft]

Singapore has unveiled a massive S$20.5 billion plan in its 2009 Budget to help Singaporeans keep jobs and viable companies stay afloat.

And for the first time, the government will be dipping into its reserves to draw S$4.9 billion to fund two temporary and extraordinary measures. They are the Jobs Credit and a Special Risk-Sharing Initiative.

The highly expansionary budget will result in an S$8.7 billion deficit, the country's largest deficit ever.

Delivering his Budget Speech in Parliament on Thursday, Finance Minister Tharman Shanmugaratnam said the multi-billon dollar plan, called the Resilience Package, will go into five main areas.

http://www.singaporebudget.gov.sg/

 

[gilarock]

Sooner or later, we'll giving them back the money.

 

[EngelFaeuste]

Basic keynesian economics. Economy not working? THROW MONEY AT IT.

I honestly hope this will work though, for the whole world's sake.

 

[ahkiatt]

It's hard to predict. But I feel that if any country can weather through a financial storm, Singapore is it.

 

[PatheinRaindropMoe]

in the real world, people are worry about livelihood, putting food on table and paying bills. As much the money prolly not enough to cover for long, for the needs of average people on the street. Its still better than nothing.

telling people that the money is not enough to buy gear... haizzz, make me sad, for the young people of this country

 

[THOA]

When a country needs to dip into reserves, it goes to show how bad situations are.

Fortunately, the economy has risen tremendously since the last economic crisis about 10 years back, so the blow of this crisis is somewhat cushioned. Still, it's tough times, though. And I am definitely pinched...

 

[EngelFaeuste]

I got PINCHED HARDER. The pound plummeted like a pound of shit through the air.

 

[singaporean]

The pound plummeted like a pound of shit through the air.

amen to that

 

[soft]

On my side, really got to work EXTRA hard. Got to find more work!

 

[VidaK]

wahhhh... no one want to hire me im going bankrupt soon...

 

[Gr3yF0x]

Hopefully, relatives will give out more money during CNY cause of this news

 

[nirvana1234]

I guess its always the government's style to enable the people to earn their own keep instead of just giving money. SO no surprises for this budget. They did double the GST credits but the way to sustain any recovery is ultimately that most singaporeans keep their jobs. So in theory, a good budget plan but alas, it cannot cover everyone's ass so retrenchements will still happen to people so all the best to everyone!