<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Jan 26, 2009
BUDGET 2009
</TR><!-- headline one : start --><TR>Bold, courageous
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->THIS Budget is unique as it reflects the seriousness of the current economy and its potentially devastating effect on Singapore if nothing is done to address and contain the economic woes.
The Government has its priority correct, as Finance Minister Tharman Shanmugaratnam mentioned many times the importance of keeping jobs, and this is done by keeping sound companies afloat.
A quarter of the Budget ($5.1 billion) is set aside to preserve jobs and the other chunk ($8.4 billion) is set aside to shore up bank lending to companies in Singapore and strengthening their cashflow.
We are a small economy and our domestic market will not lead us out of recession, but keeping sound companies afloat will allow us to tread water while we wait for the rest of the world to recover.
Support for families is most innovative as there is no cut in CPF or GST, and cost reduction to businesses is done via the Jobs Credit Scheme.
This is so typical of the Singapore Government in which, with every dollar it gives out, the purpose and care behind it is thoroughly considered.
Finally, it is a good time for us to build our infrastructure as it helps to sustain the economy, it is cost-effective and above all, it will prime our infrastructure and prepare us for the next wave.
Companies which continue to invest in R&D, even during recession, will be the first to ride the crest of the wave when the economy recovers. Investing carefully in infrastructure will place us in a most advantageous position.
I congratulate the Government on bold and courageous Budget.
Ho Yew Kee
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</TD><TD width=20> </TD><TD colSpan=2 height=30>HO YEW KEE</TD></TR><TR vAlign=top align=left><TD width=4> </TD><TD colSpan=2 height=30>Associate Professor </TD></TR><TR vAlign=top align=left><TD width=4> </TD><TD width=112>Office:</TD><TD>BIZ1 03-11 </TD></TR><TR vAlign=top align=left><TD width=4> </TD><TD width=112>Contact:</TD><TD>(65) 6516-3024 </TD></TR><TR vAlign=top align=left><TD width=4> </TD><TD width=112>Email:</TD><TD>[email protected] </TD></TR><TR vAlign=top align=left><TD width=4> </TD><TD colSpan=2>
Curriculum Vitae </TD></TR></TBODY></TABLE>
BUDGET 2009
</TR><!-- headline one : start --><TR>Bold, courageous
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->THIS Budget is unique as it reflects the seriousness of the current economy and its potentially devastating effect on Singapore if nothing is done to address and contain the economic woes.
The Government has its priority correct, as Finance Minister Tharman Shanmugaratnam mentioned many times the importance of keeping jobs, and this is done by keeping sound companies afloat.
A quarter of the Budget ($5.1 billion) is set aside to preserve jobs and the other chunk ($8.4 billion) is set aside to shore up bank lending to companies in Singapore and strengthening their cashflow.
We are a small economy and our domestic market will not lead us out of recession, but keeping sound companies afloat will allow us to tread water while we wait for the rest of the world to recover.
Support for families is most innovative as there is no cut in CPF or GST, and cost reduction to businesses is done via the Jobs Credit Scheme.
This is so typical of the Singapore Government in which, with every dollar it gives out, the purpose and care behind it is thoroughly considered.
Finally, it is a good time for us to build our infrastructure as it helps to sustain the economy, it is cost-effective and above all, it will prime our infrastructure and prepare us for the next wave.
Companies which continue to invest in R&D, even during recession, will be the first to ride the crest of the wave when the economy recovers. Investing carefully in infrastructure will place us in a most advantageous position.
I congratulate the Government on bold and courageous Budget.
Ho Yew Kee
<TABLE width="100%"><TBODY><TR><TD style="BORDER-RIGHT: #999999 1px solid; BORDER-TOP: #999999 1px solid; BORDER-LEFT: #999999 1px solid; BORDER-BOTTOM: #999999 1px solid" align=middle width=120 rowSpan=7>
Curriculum Vitae </TD></TR></TBODY></TABLE>
