Singapore Budget 2015 - #5
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The Singapore Budget will help Singaporeans build deep skills and advanced capabilities, to compete internationally and help Singaporeans do well in a world that is being digitised and transformed by technology.
Singapore has to focus on areas in growing demand and where Singaporeans have the capacity to excel. We are well positioned to be amongst the leaders in Asia or globally in five growth clusters:
- Advanced Manufacturing
- Applied Health Sciences
- Smart and Sustainable Urban Solutions
- Logistics and Aerospace
- Asian and Global Financial Services
Through SkillsFuture, we will help Singaporeans learn at every age, and develop mastery and flair in every field.
Source: MOF #SGBudget2015
Singapore Budget 2015 - #4
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Budget 2015 is focused on building Singapore’s future. Our next frontier is an economy alive with innovation and deep skills in every job, and a society that is fair and just.
To achieve this vision, the Singapore Budget takes major steps in four areas:
1. Invest in skills of the future and empower every individual to learn and develop through life
2. Restructure our economy and support the next generation of business success by promoting innovation and internationalisation
3. Invest in economic and social infrastructure for the future,
4. Strengthen assurance in retirement and enhance support for middle-income families
Source: MOF #SGBudget2015
Singapore Budget 2015 - #3
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At the heart of Singapore’s transformation has been our people, who have been attaining higher education qualifications over the years. This has enabled better jobs and transformed living standards for Singaporeans.
Incomes in Singapore have fortunately continued to grow in the last decade, for both median and lower income households. But Singapore faces intense global competition and the forces of technology that are challenging a growing range of jobs. We must stay the course in restructuring our economy, lift productivity and develop and new capabilities. That is the only way we can sustain income growth and meet aspirations for higher standards of living in the years to come.
Source: MOF #SGBudget2015
Singapore Budget 2015 - #2
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Singapore has embarked on new directions for the future. As PM Lee stated in his New Year Message, we are making fundamental policy shifts to give Singaporeans greater assurance at each stage of life, more opportunities, and a better home for all.
We build on the transformations of our first fifty years. Decade by decade, we competed for our place in the world against much larger countries, and uplifted the quality of life for all Singaporeans.
Our economy and jobs have seen a complete makeover, shifting from labour-intensive industries to advanced and sophisticated manufacturing. Services have also emerged as a major engine of enterprise and jobs. Our home-grown enterprises have made their names known around the world as well.
Source: MOF #SGBudget2015
Singapore Budget 2015 - #1
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A Budget deficit of $0.1B is expected for FY2014, smaller than estimated ($1.2B) mainly due to increase in motor-related revenues. Singapore’s GDP growth is expected to remain between 2% to 4% with CPI inflation expecting to remain flat in 2015. Over the past five years, median income grew by a total of 11% after adjusting for inflation. Meanwhile, median household incomes grew at 18%.
Source: MOF #SGBudget2015
