FY08 budget deficit will possibly triple that of S$800m estimate

[Nisa]

SINGAPORE: Finance Minister Tharman Shanmugaratnam said Tuesday the budget deficit expected for Financial Year 08 will possibly be three times larger than the estimated S$800 million.

In a written reply to questions to Parliament released Tuesday morning, Mr Tharman said that the government will not seek to reduce the deficit by trimming government expenditures or raising revenue.

He said the larger deficit is "an appropriate fiscal stance" in the context of an economy that has entered a slowdown.

Mr Tharman said the government has raised expenditures this year to allow for a more expansionary budget in the current economic environment.

Singapore is in a technical recession after two consecutive quarters of negative growth.

The government has promised early measures to help companies in the slowdown, expected some time this week.

Budget Day was also moved forward to January next year, from the usual February date.

- CNA/yb


Source : http://www.channelnewsasia.com/stories/singaporebusinessnews/view/390574/1/.html

 

[Nisa]

A budget deficit occurs when an entity (often a government) spends more money than it takes in. The opposite of a budget deficit is a budget surplus. Debt is essentially an accumulated flow of deficits.

Source :- http://en.wikipedia.org/wiki/Deficit

 

[Nisa]

If we are spending more than we are taking in, where did our gov't get all the money to invest? Are we in debts?

 

[waileong]

This doesn't make sense. The spending should be as given when Parliament authorised the Supply Bill, how can Govt suddenly increase spending without going to Parliament for off-Budget approval?

SINGAPORE: Finance Minister Tharman Shanmugaratnam said Tuesday the budget deficit expected for Financial Year 08 will possibly be three times larger than the estimated S$800 million.

In a written reply to questions to Parliament released Tuesday morning, Mr Tharman said that the government will not seek to reduce the deficit by trimming government expenditures or raising revenue.

He said the larger deficit is "an appropriate fiscal stance" in the context of an economy that has entered a slowdown.

Mr Tharman said the government has raised expenditures this year to allow for a more expansionary budget in the current economic environment.

Singapore is in a technical recession after two consecutive quarters of negative growth.

The government has promised early measures to help companies in the slowdown, expected some time this week.

Budget Day was also moved forward to January next year, from the usual February date.

- CNA/yb


Source : http://www.channelnewsasia.com/stories/singaporebusinessnews/view/390574/1/.html

 

[Flashbulb]

Singapore isnt exactly a cheap place to set up shop so as to speak. There are places like HK, M`sia among others where it could be cheaper.

Just me but if want to attract people to set up shop, should make the process easier + faster + cheaper.

 

[waileong]

If we are spending more than we are taking in, where did our gov't get all the money to invest? Are we in debts?

SGS.....

 

[Old Man Lee]

The young son of mine has failed. Within a few years, he has brought disaster to my country. I must not perish until Singapore has recovered.

SINGAPORE: Finance Minister Tharman Shanmugaratnam said Tuesday the budget deficit expected for Financial Year 08 will possibly be three times larger than the estimated S$800 million.

In a written reply to questions to Parliament released Tuesday morning, Mr Tharman said that the government will not seek to reduce the deficit by trimming government expenditures or raising revenue.

He said the larger deficit is "an appropriate fiscal stance" in the context of an economy that has entered a slowdown.

Mr Tharman said the government has raised expenditures this year to allow for a more expansionary budget in the current economic environment.

Singapore is in a technical recession after two consecutive quarters of negative growth.

The government has promised early measures to help companies in the slowdown, expected some time this week.

Budget Day was also moved forward to January next year, from the usual February date.

- CNA/yb


Source : http://www.channelnewsasia.com/stories/singaporebusinessnews/view/390574/1/.html

 

[azul123]

The young son of mine has failed. Within a few years, he has brought disaster to my country. I must not perish until Singapore has recovered.

:bsmilie:

Don't be so sad, at least he is better than you in many other ways. But indeed, he has not done an exceptional job as we expected.

Maybe the challenges are just too great... I can already hear words like "external factors", "beyond our control" however, we are in strong position... etc.. etc..

The time of super inflation wil be next phase.. that is another tough cookie to deal with.

../azul123

 

[coffee3in1]

If we are spending more than we are taking in, where did our gov't get all the money to invest? Are we in debts?

ERP. Money No Enough II shows it very well.

Some humtam figures.
Approx $1.50 for every toll charge.
Approx 300,000 vehicle movement @ rush hours = $450,000 (LTA states 278,300 in 2007)
Each day collection $900,000
Monthly collection $18,000,000
Annual collection $216,000,000

Money Still No Enough?

Soln:
1) Release more COE => more taxable base
2) Up ERP charges, in lieu of traffic control
3) Up more gantries
4) Up Petrol surcharges.
5) Maybe put ESP (electronic shutter pricing) onto camera also. :bsmilie:

 

[Lenscapes]

ERP. Money No Enough II shows it very well.

5) Maybe put ESP (electronic shutter pricing) onto camera also. :bsmilie:

like that those machine gunners will kena jialat2! :bsmilie::bsmilie:

 

[ortega]

please be reminded that

3. Off-Topic (OT) posts - Please direct all posts not related to Photography to the Kopitiam forum. OT posts will be deleted or moved without noticed if posted in any other forums.
NOTE: Although Kopitiam is meant as a catch-all area for things not related to photography, posts/threads which are:
religious,
political,
racist;
in nature or can be construed as such will also be stamped out, abolished and demolished without prejudice.