Singapore budget deficit balloons: minister

last SG · 2008-11-19T15:41:45+00:00

I really worry for the future. So much losses in the past 1 year alone. worry is too mild a word....i'm terrified

Pentaxdude90 SG

They simply boh chup. Choosing to be indifferent. This way good for the despots.

TemplarKnight and Fantagf.. wo ai ni la........

Evangel SG

Next budget I'm gonna hear thalaman say:

1) We are going to increase the GST offset credits to help Singaporeans in this trying times. This is going to cost the government 800 Million.

2) Increase budget in education, this is going to further cost us 1 Billion.

3) Increase budget in infrastructure, this is going to cost us 5 Billion to help stimulate the economy as we expect construction material prices to be low. We will take advantage of this to further build up our infrastructure.

4) The decrease in ERP last year have cost the government 20 Million.

5) We are going to lower corporate taxes by 1% for businesses to be more competitive, this will cost the government approximately 20 Billion.

6) In due of the adjustment of minister's pay to the benchmark proposed, we have decided to postpone it. As ministers we share the plight of fellow Singaporeans. This had helped the government save 100 Million.

7) GDP for FY2008 have increased only by 0.5%. In the current economic turmoil, the new budget has a current account surplus of 100 Million, better than expected. This is because of decreased spending on infrastructure last year and lesser spending in other aspects of the budget. We continue to be pessimistic about the current global economic situation.

8) Looking forward, Singapore's economy is in a position to ride through the economic crisis. If in need, we would tap into our reserves to help businesses in this difficult environment.

Looking at past year's budget speech, every time budget help is given, he will say cost the government. Makes me feel uneasy. I wonder how will next year's budget be like, these are just my predictions(which is never accurate). LOL! I really hope the ministers will take a pay cut. I think they will still give out bonuses as usual.

Fantagf SG

Next budget I'm gonna hear thalaman say:

1) We are going to increase the GST offset credits to help Singaporeans in this trying times. This is going to cost the government 800 Million.

2) Increase budget in education, this is going to further cost us 1 Billion.

4) The decrease in ERP last year have cost the government 20 Million.

5) We are going to lower corporate taxes by 1% for businesses to be more competitive, this will cost the government approximately 20 Billion.

8) Looking forward, Singapore's economy is in a position to ride through the economic crisis. If in need, we would tap into our reserves to help businesses in this difficult environment.

ha ha haha. Never a word about them losing so much in investments. Isn't losing so much in investment one of the causes in the deficit? Feel heartache to fork out $$ to help the people but never feel heartache to lose so much money from the people thru investments.

We people feel the heartache to be "forced" to overpay these ministers.

Hope they will cut down their sinfully overpaid salary to ease the deficit.

Evangel SG

We people feel the heartache to be "forced" to overpay these ministers.

Hope they will cut down their sinfully overpaid salary to ease the deficit.

My guess is Thalaman wont even talk about those losses. At best he will say those are long term investments with 10-20 years time frame.

Temasek's aussie losses are peanuts compared to their total portfolio. Cant scrutinize much cause we don't have substantial information in the first place. I don't see Temasek's cashflow statement, it's crucial to analyse where money flows from income statement to balance sheet vice versa. It's an added check cause cashflow statements are hard to manipulate. Reminds me of Enron, if you didnt look at their cashflow, you will still think that they are doing very well.

Shotgun SG

IMHO is no. Unless they do something really drastic to steam up the economy. Not that we are hoarding up our money though... It is just too much uncertainty what tomolo will bring. Many of us cant afford take the risk of losing our jobs and end up debts filling up the ass.

I no economist so no understand how to steam the economy. I just want to let our fellow citizen know... we are in deeper shit than we can imagine.

Some pple say COE $2 shows how bad economy really is. Some say the $2 is to entice pple to buy more cars or maybe even a snare to get more ERP etc...

That I really had no comment. The ghamen had no good strategy from my limited viewpoint. Retraining dont seem a feasible idea to me coz if company close here and there then wat the pt of retraining and not getting a job.

I would love to spend to steam eco like the unholy goh said... but cannot. too much at risk. Would you urself take that risk?

The government hopes to increase domestic demand what... So first stop is Cars lor!

They reduce the COE, so people will buy more cars. Thats increasing domestic demand. But they need to realize that the ERP system might turn around to be unhelpful in that, as it will discourage people from buying and spending on cars.

So to make this strategy work, and get people to drive more and burn more fuel, will be to regulate and in this case decrease ERP prices, and hopefully encourage demand for fuel.

Knowing Singaporeans who are gian chia, gian song, and gian bin, cars is one way of playing with domestic demand IMO. After all, when things get better, they can always raise ERP Prices again and start earning money again.

TemplarKnight SG

gota feeling this coe is a snare. better think long term first. Later commit to a car and then lost the job hor... siao liow.

Fantagf SG

My guess is Thalaman wont even talk about those losses. At best he will say those are long term investments with 10-20 years time frame.

Anything that does not look good to them will not be amplified.

TemplarKnight SG

bad things where got show one............??? Looking for hamtam ya?

Fantagf SG

bad things where got show one............??? Looking for hamtam ya?

The bottom line is self serving lah. Self serving is their top priority to run the country.

TemplarKnight SG

professing to be wise, they become fools...............

Fantagf SG

professing to be wise, they become fools...............

It is a choice to be fools, if they show they are wise people will expect more from them and they are not willing to give.

TemplarKnight SG

them got nothing to give except shit

nothing to say except lies

nothing to show except losses

nothing to prove but threat.

Whee.. i am very frightened very very frightened until i PEE in my pants... Oopss.. must very very wet liao....................

Fantagf SG

them got nothing to give except shit

nothing to say except lies

nothing to show except losses

nothing to prove but threat.

Whee.. i am very frightened very very frightened until i PEE in my pants... Oopss.. must very very wet liao....................

YOu say this, later kena attack here. Those will ask you to prove what you say. Later will go on and on to be mei wan mei liao to keep finding fault. This is the "pattern" in this forum.

What I want is a government that is not self serving. Public service should come first.

TemplarKnight SG

neber say who wat.... why flame me? pple can think what they want or say wat they one... i can be refering to anyone on this planet as i neber choose to reply to any specific person. Just one of my poems.............

or my poems hit the right spot of someone?

Fantagf SG

or my poems hit the right spot of someone?

did not flame you, don't read wrongly. Who is that someone?

TemplarKnight SG

tat someone is someone lah... i dun disclose pple one.. later kena stoned to death..... anyway if not guilty then no worries right?

Fantagf SG

tat someone is someone lah... i dun disclose pple one.. later kena stoned to death..... anyway if not guilty then no worries right?

no such thing as stone to death here. Some things posted here are facts but there are people who are just not comfortable reading about it. This is one of the reasons why they find fault.

TemplarKnight SG

truth always make people angry

Fantagf SG

truth always make people angry

truth makes some people angry.

TemplarKnight SG

truth makes some people angry.

wateber lah....

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