1. It is my pleasure to open this conference jointly organised by the AARP and the Council for Third Age. The focus of this conference – Reinventing Retirement – is timely and relevant.INTRODUCTION2. Population ageing affects all developed societies. It is the result of lengthening life expectancy with better healthcare, and declining birthrates as more women remain single and couples have fewer children. Japan is furthest down this route, and its population is already shrinking. The situation in Singapore is not as serious, but we are on a similar path. By 2030, one fifth of our population will be 65 years and older. This is nearly one million people, three times the number today. 3. These demographic trends will require us to make adjustments both as individuals and as a society. As individuals, because we expect to live longer than our parents’ generation, each of us will have to re-calibrate the balance of work and retirement in our lives, as well as rethink what retirement means to us. As a society, because a larger proportion of the population will be elderly, we will have to work out new family, workplace and community arrangements that are economically and socially sustainable, to enable every individual to enjoy a productive, dignified life into his senior years.SUPPORTING OLDER WORKERS4. The best way for people to adjust to longer lifespans is to continue working for as long as they can, and to keep themselves occupied after formal retirement. People today are healthier and the nature of work has changed. We can continue to lead active and useful lives well into our old age. 5. However, many of our social attitudes and institutional structures were established at a time when life expectancies were shorter and our population was younger. These are no longer suitable for the present and future environments, but hinder us from adjusting to our new circumstances. Therefore, we will need to develop new arrangements to support older workers.6. For example, wage structures and employment terms that were designed for a different age now need to be updated. Employers prefer to hire younger workers who cost them less under a seniority-based wage system, making it harder for older workers to find and keep jobs. Moreover, some employees still look forward to retirement at age 55 or 60. This was reasonable when life expectancy was in the 60s, but it is not sustainable with life expectancy around 80 today, and still going up. 7. All parties have roles to play in changing this outdated status quo. Employers need to appreciate that older workers, with their years of experience, wisdom and loyalty, can be a valuable resource at the workplace. Companies can modify job specifications and operations or redesign work for their older employees. The Workforce Development Agency (WDA) has created the ADVANTAGE! grant scheme to help fund such changes.8. For example, the National University Hospital had tapped on this grant to install an automated trolley system in its pharmaceutical department. Previously, trolleys of medicine had to be pushed manually, a physically demanding task for older storekeepers. With the automated system, medicine can be transported in bulk, saving both time and manpower. Despite increased workload, the job has become less strenuous, and productivity has gone up.9. On the employees’ side, workers must be prepared to work longer. They need to see work as an important avenue to contribute, stay active and learn new things. MOM’s surveys indicate that older Singaporeans generally agree with this sentiment. But they need to be ready to adjust to different responsibilities, and possibly lighter work and less pay, and this is understandably harder to accept. 10. Sometimes, it is family attitudes that need to change. Let me share an example: The hotel industry needs attendants to clean rooms and change the bed linen. Older women can do such work well, and hotels are also keen to hire them. However, hotels have told us that these women tend to drop out from the training programmes, often under pressure from their children who do not want their parents to work as room attendants. So, the hotels have to hire foreign workers to fill the vacancies. 11. This is a delicate matter of face and status. The job of hotel attendant may be a humble one, but it is honourable employment, and if one can do it conscientiously and competently, there is no reason for the family to feel ashamed, or for society to look down on attendants or their families. We should not discourage anyone from taking on such jobs. To do so would limit his options to be active, engaged and to earn an income.12. Besides fostering new social attitudes, the Government is also updating our employment laws and structures. But we should be realistic. We cannot solve the problem at the stroke of a pen by legislation. For example, our official retirement age today is 62. Yet by 62, only six out of every ten men are still working. The rest have already retired earlier. Even fewer women work till 62, because most have dropped out of the workforce much earlier to raise their families. Simply raising the retirement age will not magically keep older workers employed longer.13. Hence in Singa¬pore we have gone for a more flexible and practical approach, similar to what Japan has done. We are legislating not to further delay the retirement age, but to require employers to offer re-employment to workers at 62 for another three years until 65, though not necessarily in the same job or at the same pay. 14. This legislative change will be supported by other measures. Singapore’s tripartite partners – government, employers and unions – have collectively released a Tripartite Advisory to help employers understand and prepare for re-employment. The Government has also made changes to our wage structures so that older workers would not be disadvantaged. Workers beyond age 50 pay lower CPF contribution rates, to lighten the cost of employing them, and mitigate the effect of seniority-based wages. Our Workfare Income Supplement – in effect a negative income tax – is also weighted in favour of older workers.15. We can also do more to raise the employment rate of older women. It is often tough for women to continue working while raising a family, even if the husband carries his share of the household responsibilities. We can help by adopting more flexible work arrange¬ments, developing family-friendly workplace policies, and providing accessible and affordable childcare. We should also encourage older women to return to the workforce, through targeted outreach and retraining. In this area, the Tripartite Workgroup on Enhancing Employment Choices for Women which was formed last year has successfully matched over 2,000 women with jobs in administration, childcare, security, retail and hospitality sectors.16. Our efforts have been modestly successful. The employment rate of workers aged 55 to 64 has risen steadily, but we still have some way to go. We aim to push it up from 57% in 2008 to 65% by 2012. It will be tougher in this downturn, but we will strive our utmost. We should not lose the ground that we have arduously won over the last few years, getting more older people to continue working. LEADING FULL AND ACTIVE LIVES BEYOND RETIREMENT17. After retirement, older Singaporeans ought to stay active and engaged. They can contribute in community organisations, or join the Senior Citizen groups in our housing estates, which run regular activities to help our seniors keep physically well and socially active. More programmes are being introduced into the community. For example, we are piloting a “Wellness Programme” to encourage our seniors to lead active lifestyles and better manage their health.18. We are also upgrading our physical infrastructure to cater to an older population. Our housing estates were built at a time when our population was young, and residents did not worry about accessibility issues. But small steps and barriers which were barely noticed by a younger population can become a formidable obstacle course for the elderly or infirm.19. We are therefore progressively making our housing estates barrier-free. The Lift Upgrading Programme will install new lifts which stop on every floor. Our playgrounds have not only swings and climbing frames for children, but also exercise machines for the elderly to get a gentle workout, and socialise with their neighbours and friends. In addition, we are making our bus system wheel-chair accessible; our train network already is. Older Singaporeans should be able to move around freely and conveniently, and have amenities suited to their needs, even if they suffer from some disabilities.MAKING PROVISIONS FOR OLD AGE20. One key concern is to ensure that the elderly are financially secure for their old age. This is a social issue, but it is also important that each individual takes personal responsibility, plans ahead, anticipates and prepares for his later years. Our system therefore encourages self-reliance, with the government playing an enabling role to help each person build up his individual assets and savings, through home ownership and the Central Provident Fund (CPF). 21. Our public housing and home ownership policies have enabled 95% of Singaporeans to own their own homes. Despite fluctuations in the property market, these homes are a valuable asset which Singaporeans can draw on when they grow old. Those who need money can sell or rent out their homes and either move in with their children or into smaller apartments on shorter leases. We have also introduced a lease buy-back scheme for smaller HDB flats, to provide an additional source of financing.22. The CPF scheme has also served Singaporeans well. The CPF savings are wholly invested in Special Singa¬pore Government Securities (SSGS), which are risk-free and provide a steady return. In boom times CPF members have sometimes complained that this approach yields too low returns. But in the current unstable financial markets, I believe many are relieved that the Govern¬ment has been prudent rather than adventurous with their retirement nest-eggs. Separately, we are now in the midst of incorporating an annuity in the CPF scheme, which will provide a steady stream of income starting at 65, for life. Called the Lifelong Income For the Elderly (or CPF LIFE), this is an additional layer of financial security to support Singaporeans as they age.CARING FOR AN AGEING POPULATION23. As an Asian society, the family is the first line of care and support for seniors. Although urbanisation and the trend towards smaller, nuclear families will put this practice under pressure, we must hold to it as much as we can. If families abdicate responsibility for their aged parents, and put the burden wholly on the state, our collective burden will become insurmountable. Beyond the family, we adopt a system of many helping hands where community and voluntary organisations play key roles in supporting the more vulnerable seniors. This ensures that help for those in need remains an expression of human compassion, and does not become a matter of bureaucratic administration and entitlement.24. As our population ages, they will need more medical and long term care. We will build new acute and community hospitals and step down care facilities, as well as recruit and train sufficient doctors, nurses and carers. We will provide more resources, but it is not just a matter of spending more. It is also important to get the funding structure and support policies right, to ensure that services remain affordable and sustainable. 25. The CPF has been a useful platform for people to pay for medical services, through Medisave and MediShield. The cost of medical and long-term care is a major concern of the elderly and their families, as well as many younger people who can see what their parents need and worry about what will happen to themselves when they grow older. We must ensure that savings and insurance schemes under the CPF are sufficient to provide for a major portion of their expenses. However, a free healthcare system is not the answer. It is an attractive ideal, but experience in many countries has shown that in practice “free” healthcare leads to uncontrollable and unsustainable demand for healthcare services, and is far from being free to the society as a whole. Hence we have aimed for a combination of personal responsibility with community and state support, in order to avoid the problems of inadequate coverage, over-consumption and long waiting lists faced by many other countries.CONCLUSION26. Population ageing brings complex and multi-faceted challenges. While we should not understate these challenges, we should be mindful that living longer is not a bad thing. People today can lead longer lives because they are generally healthier, and enjoy better medical care than their forebears. They are better-educated and can continue to contribute in the workforce and community for many more years. At work, older workers bring experience, stability and quiet deliberation to their workplaces. Within the family, older members are a valuable source for advice and help to bring up children. There is also potential for a “silver industry” to emerge, to service demand from the new demographic for a wide range of products, from healthcare to wealth management to golf holidays.27. The impact of population ageing is long term and profound. But if we prepare our society to make the necessary adjustments, update our policies and improve our infrastructure, we can ensure that older citizens will continue to lead full and happy lives.28. I wish all of you a productive conference. Thank you.
The government is expected to announce significant recession-help in the upcoming budget in two weeks’ time. Standard Chartered bank economists said in their Budget Preview report that the aim of the budget will not be to reverse the downturn. Instead, it’ll be targeted to help households and companies cope and position themselves to take advantage of the eventual recovery. Standard Chartered expects a cut in employers’ CPF contribution rate from the current 14.5 percent to 10 percent. But it expects no change to employees’ CPF contribution rate, GST, personal income and corporate tax rates. The report said one-off measures such as a partial waiver of profits tax, property tax, personal income and corporate tax could be possible instead. The bank also believes the Monetary Authority of Singapore or MAS will maintain the current Singapore dollar policy stance at its next policy meeting in April. It said this is because a shift to a depreciation bias would not improve external demand and could stoke imported inflation.http://retrenchment-blog.breaking.sg/2009/01/stanchart-forecasts-significant-recession-help-in-budget-cpf-from-145-to-10/
By Shamim Adam Jan. 16 (Bloomberg) -- Until a few months ago, Amit Singh dreamed of buying a car. Now, with S$75,000 ($50,100) in the bank, the lawyer is holding back, saying he’ll continue to make the one-hour commute to work on the Singapore subway. "In these bad times, the buzzword is save, not spend," says Singh, 34. "It’s not the right economic climate to be lavish or to have a luxurious lifestyle." Singapore is asking its citizens, the world’s third-wealthiest adjusted for purchasing power, to be prudent as analysts predict the worst economic slump in the nation’s 43-year history. In speeches, pamphlets and ads, the government is advising people to switch to cheaper frozen meats, take shorter showers and skip the top-of-the-line mobile phone. The island’s strategy contrasts with that of other countries such as Japan and Taiwan, which are trying to boost consumer spending to spur economic growth as exports falter. Singapore, whose 4.8 million population is one of Asia’s smallest, doesn’t have a big enough home market to make up for falling sales overseas, so officials "are not even going to try" to tell people to spend more, says Vishnu Varathan, an economist at Forecast Singapore Pte. "There’s no way the domestic economy can make up for the slack in the external sector," he says. The message "is to bear with pay cuts and live frugally." Dwindling Incomes: The government is preparing people for dwindling incomes as the nation’s fourth recession in a decade forces companies including lender DBS Group Holdings Ltd., manufacturer Stats Chippac Ltd. and state-owned investment company Temasek Holdings Pte. to fire workers or trim salaries. Singapore last year unveiled more than S$5.4 billion in cash payouts, utility rebates and special funds, or $1,700 for each of the nation’s 3.2 million citizens, to help the poor cope with rising food and energy prices. Officials say people also need to help themselves during the economic crisis. If everyone depends on the government, "we’ll weaken ourselves as a society," Prime Minister Lee Hsien Loong said on Jan. 11, according to the island’s main English newspaper, the Straits Times. "We’ll cultivate a sense of reliance." The World Bank predicts Singapore’s $161 billion economy will be East Asia’s worst performer this year. The government forecasts it may shrink as much as 2 percent, after expanding 1.5 percent in 2008 and 7.7 percent in 2007. Kit Wei Zheng, an economist at Citigroup Inc. in Singapore, says the contraction might be as much as 2.8 percent -- the most severe since Singapore gained independence in 1965. Rising Unemployment: The unemployment rate may more than double to 5 percent from 2.2 percent in September 2008, says Leong Wai Ho, a regional economist at Barclays Capital in Singapore. More than 30,000 jobs may be lost, he says, after about 400,000 new positions were created in the past two years. That could boost the default rate on mortgages for government-built apartments, which house 84 percent of Singaporeans. The rate has risen to 8 percent from 5 percent in 2003. Governments elsewhere in Asia are encouraging their more-sizeable populations to spend to counter the deepening global recession. Taiwan extended the New Year’s holiday an extra day and is scheduled to distribute NT$3,600 ($1 0 8 shopping vouchers to citizens on Jan. 18. Japanese Prime Minister Taro Aso has pledged to give households 2 trillion yen ($23 billion) in handouts. Private Consumption: That may not work for Singapore, where private consumption accounted for 38 percent of gross domestic product in 2006, compared with more than half in Australia, Hong Kong, South Korea and Japan, according to the World Bank. Singapore’s leaders have traditionally preached restraint amid economic difficulties. In 2001, when the economy contracted 2.2 percent, the government refused to cap electricity prices and instead gave utility rebates to help the poor and encourage people to "save and not over-consume," then-Prime Minister Goh Chok Tong said in an August 2001 speech. The government’s latest campaign began last year when prices of food essentials including rice and cooking oil surged. As inflation soared to a 26-year high of 7.5 percent, Prime Minister Lee urged people to switch to frozen meats and in-house brands of supermarket products, which are typically cheaper. ‘Healthier’ Vegetables: The national power company ran television ads telling consumers to set air conditioners several degrees higher and use energy-efficient bulbs to combat rate increases of about 42 percent. A government-run community-development council distributed a brochure to homes in Singapore’s most-populous district, suggesting people use less water and substitute meat with "cheaper and healthier" vegetables. MoneySense, a national financial-education program run by the central bank, sponsored an advertisement in the Straits Times last month featuring a cartoon of a man showing off his new cell phone, then skipping lunch and subsisting on water because he had no money left. Not everyone is getting the message. Alicia Leong, 29, received a 32-page booklet in her mailbox in December with tips on saving money. The next day, she spent $1,200 on new clothes and a handbag, charging them to two of her seven credit cards. "I still have a job, so I don’t see the need to tighten my belt," says Leong, a teacher at a local high school. "I’ll probably stop when my credit cards are maxed out." Credit-Card Debt: Singaporeans rolled over a record S$3.5 billion in credit-card debt last November, about 18 percent higher than the year before. Other people are taking the advice to heart. Jack Oh lost his job as an electrician when his employer went out of business in October. The father of three school-age children now drives a taxi and says he’s cutting back on the Lunar New Year celebration, which begins Jan. 25."Last year, we went to a restaurant for the reunion dinner with my family, parents and siblings and spent over S$1,500," says Oh, 44. "This year, we’re doing it at home, and I told my wife to get the cheaper abalone."
It's a bad time in Singapore to flaunt your riches, especially if you're a high government official. By Seah Chiang Nee.Jan 10, 2009A GOVERNMENT elite has stirred ripples by talking of his expensive cooking lessons in France, revealing how hard times are deepening class differences in Singapore.Inadvertently creating controversy was the permanent secretary at the Environment and Water Resources Ministry, one of the highest ranking civil servants.Tan Yong Soon had related how he had spent S$46,000 for himself, his wife and son for a five-day trip to learn fine French cooking.In ordinary times, this leisurely – but rather insensitive – account would not have amounted to anything much but these days are, of course, far from normal.Two factors invited criticism to flare.First, he was seen as flaunting wealth, obtained from his high pay, at a time when Singapore is suffering one of its worst slumps in history.Many thousands of workers are still losing jobs or suffering wage cuts.And, secondly, government leaders are accused of being hugely overpaid, as a result of which some are no longer able to relate to the common people.Tan was also accused of “boasting” about his elitist background when he wrote that his wife was “a senior investment counsellor at a bank” and his son, a soon-to-be student at America’s prestigious Brown University.“Taking five weeks’ leave from work is not as difficult as one thinks,” Tan said.“Most times, when you are at the top, you think you are indispensable. But if you are a good leader who has built up a good team, it is possible to go away for five weeks or even longer.”Singaporeans were largely unimpressed. Some were angry. His fling at France’s prestigious Le Cordon Bleu in the face of rising poverty is the latest example of how out of tune some of Singapore’s well-paid elites are with heartland realities.About 20% of affluent Singapore’s population lives in poverty with welfare payout to the poorest of the lot limited to a mere S$290 (RM694) a month.When a government backbencher wanted to have it increased, a Cabinet minister refused, demanding: “How much do you want?”Many Singaporeans were already unhappy with the multi-million dollar salaries paid to Cabinet ministers and top civil servants even in happier times.(Despite a recent cut of up to 19%, the government here remains, by far, the highest paid in the world.)The pay issue remains very controversial and contributes to the class division in society, a them-verses-us mentality that has apparently sharpened as a result of the economic crisis.The whole episode has shown how the class – and social – divide is widening in high-tech Singapore.The controversy over Tan’s trip has political implications for a government that is pondering over whether or not to call for a snap general election, which is not due until 2010-11.In other developed countries from Britain to Japan, it would not have any impact since it involves a civil servant, not a political leader.But the system is very different in Singapore, where the line separating the two hardly exists.The Chinese characters “zeng fu” are used to describe the political leadership as well as the civil service.Some questioned why Tan’s choice of spending his own wealth should bethe public’s business – but not many are buying into it.Established blogger Redbean articulated: “Tan is no ordinary, rich Singaporean. He is a senior civil servant ... and part of the governing elite.“(He) should be seen as one who would be able to empathise with ordinary Singaporeans who are going through tough times ... (when) the Prime Minister is preparing the people for some belt-tightening and ‘bitter medicine’.”Besides, if Tan had wished he should have spent his money at home to help the troubled economy rather than abroad, some believed.Tan’s is by no means the only example of elitist snobbery, nor the worse.A bigger controversy flared up four years ago when Wee Shu Min, the teenage daughter of a Member of Parliament, came across the blog of a Singaporean who wrote that he was worried about losing his job.She called Derek Wee “one of many wretched, under-motivated, over-assuming leeches in our country.“If you’re not good enough, life will kick you in the balls ... Our society is, I quote, ‘far too survival of fittest’,” said Shu Min, who hailed from the elite Raffles Junior College.“... Unless you are an arm-twisting commie bully, which, given your whiny, middle-class, under-educated penchant, I doubt,” she added before signing off with “please, get out of my elite uncaring face”.The girl was flamed by hundreds of Singaporeans, but when her father Wee Siew Kim – an MP in Prime Minister Lee Hsien Loong’s constituency – told a newspaper that “her basic point is reasonable”, the row moved well beyond blogosphere.A news agency, in reporting this, said: “The episode highlighted a deep rift in Singapore society and was an embarrassment for the ruling People’s Action Party and PM Lee.”Raffles JC, which has produced several state leaders, had another brush with student snobbishness.When a student found that a Raffles girl was dating a boy from a lower-achieving neighbourhood school, he hit out at him and had a message for lower-ranking students everywhere.“Quit trying to climb the social ladder by dating students from top schools.”There are signs the class distinction is getting into some young minds.A reporter recounted how her friend was shaken when her young daughter came home one day and mentioned in passing that poor people were “stupid, obviously”.(The article was first published in The Star, Malaysia).
[COLOR="Red"]Singaporeans put so much in CPF and get back so little?[/COLOR]http://www.straitstimes.com/Breaking%2BNews/Singapore/Story/STIStory_323961.html?vgnmr=1Jan 9, 2009 Pension & retirement incomeS'poreans ranked lowest SINGAPOREANS are at the bottom of a ranking of retirement income from pensions in the Asia-Pacific region, says the Organisation for Economic Cooperation and Development (OECD). And this is true at all income levels, according to the study, which covered 19 locations including Hong Kong, Taipei and Japan, The Business Times reported on Friday. The Pensions at a Glance study, which also involved the World Bank, found that Singapore's average gross replacement rate - the value of the pension as a percentage of earnings when working - is just 13.1 per cent. Taipei has the highest gross replacement rate of 70 per cent, the report said. 'This means that the gross pension income for average earners in Taipei is over two-thirds of their previous earnings level, whereas pensioners in Singapore receive less than one-seventh the amount of their earnings,' says the study. Singapore's pension is provided by the Central Provident Fund (CPF). 'The relatively low replacement rate for Singapore is because the calculations only consider the earmarked retirement account,' says the study. 'If an individual were to put the general account towards retirement-income provision as well, then the replacement rate would be 82 per cent.' It points out that it would be foolish to say that one Singaporean who withdrew from the CPF to buy a house is worse off than another who built up a retirement income and then had to use some of it to pay for housing. 'Nonetheless, there is a risk that older people find themselves asset-rich and income-poor in retirement and facing difficulty in unlocking the value of their housing assets to pay for essentials,' the study says. Replacement rates - the most familiar indicator for pension analysts - are not the only factor governments are concerned with. They also need to measure the value of the overall pension promise. 'This is measured by the indicator of pension wealth which takes life expectancy into account,' the study says. Again, Singapore has the lowest measurement - a retiree's pension here is worth just an average 2.2 times their earnings at retirement. The figure for China is 21.2 times - the highest in the region.
http://www.todayonline.com/articles/297781.asp(http://www.parliament.gov.sg/AboutUs/images/Prof-CharlesChong.gif)Excerpt from article:Agreeing that the rebuke in Parliament was “harsh”, MP Charles Chong noted that Mr Tan didn’t “brag” about how expensive the trip was in the article..“Maybe it made lesser mortals envious and they thought maybe he was a little bit boastful,” he said. “Would people have taken offence if his wife (a senior investment counsellor at a bank) had paid for everything?”
http://www.channelnewsasia.com/stories/singaporelocalnews/view/403473/1/.htmlCivil servant rapped over cooking holidayPosted: 19 January 2009 1754 hrs Le Cordon Bleu in Paris SINGAPORE - A senior Singaporean civil servant has been reprimanded for publicising his family's vacation at a top French cooking school when his country is suffering from a recession, a minister said Monday. "It struck a discordant note during the current difficult economic circumstances when it is especially important to show solidarity and empathy for Singaporeans who are facing uncertainties and hardship," Defence Minister Teo Chee Hean said in parliament. The civil servant, Tan Yong Soon, wrote early this month in a local newspaper about his family's experience learning to cook at Le Cordon Bleu in Paris. He said he attended with his wife and son.Tan, permanent secretary at the ministry of environment and water resources, showed "a lack of sensitivity" and poor judgement, the minister said. The head of the civil service has already spoken to Tan about the matter, the minister added. "What the civil servant in question, Mr Tan, does during his vacation leave, this is (a) private decision," said Teo, who is also minister in charge of the civil service. "However, I was disappointed with what he wrote in to The Straits Times." According to the newspaper, a basic cuisine course at Le Cordon Bleu costs S$15,500. - AFP/vm
S'pore defence budget up 6% SINGAPORE, battling what is likely its worst-ever recession, plans to increase defence spending by 6.0 per cent from a year ago, estimates released on Thursday showed. The government intends to spend $11.45 billion on defence during the 2009 fiscal year, the estimates showed. In the budget, the government took the unprecedented move of tapping into its vast financial reserves as part of measures to fight the recession, Finance Minister Tharman Shanmugaratnam said during a speech in parliament. Singapore, which has one of Asia's most advanced armed forces, spent $10.8 billion for defence in 2008, figures contained in the 2009 budget said. The money will be used to purchase and maintain military equipment and facilities, and to pay the salaries of national servicemen. The mission of the armed forces is to enhance peace and security through deterrence and diplomacy, but should these fail, the military will aim to 'secure a swift and decisive victory over the aggressor,' a statement on the Ministry of Defence website said. Singapore has a population of more than 4.8 million people, 3.64 million of them citizens and permanent residents who provide the manpower for its conscription-based armed forces. -- AFPhttp://www.straitstimes.com/Breaking%2BNews/Singapore/Story/STIStory_329562.html
Resilience Package: Five componentsB.9. The Resilience Package of $20.5 billion for FY2009 will have five components:* First, jobs for Singaporeans. We will spend $5.1 billion to help preserve jobs.* Second, stimulating bank lending. We expect to extend $5.8 billion in government capital for a Special Risk-Sharing Initiative (SRI). Of this, a small fraction is likely to be eventually expended on provisions for loan losses.* Third, enhancing business cash-flow and competitiveness. We will implement tax measures and grants for businesses that will cost $2.6 billion.* Fourth, supporting families. We will spend $2.6 billion to support Singaporean households this year. This is on top of the benefits they will derive from the measures to preserve jobs.* Fifth, building a home for the future. We will spend $4.4 billion on developing first class infrastructure for the island and on expanded provisions for education and healthcare.B.10. These amounts are what the Package will spend this year. We will front-load some of the measures, beginning in March 2009. Certain measures will also stretch beyond 2009 and will therefore have an impact on future budgets, on top of the $20.5 billion package this year.B.11. Together these initiatives will mean a significantly expansionary Budget in the financial year 2009. The Basic Balance is expected to be in deficit by 6% of GDP in FY2009 (before accounting for NIR or transfers to endowment and trust funds). This is the largest deficit the Government has budgeted for to-date. http://forums.hardwarezone.com.sg/showthread.php?t=2244713
Thu, May 07, 2009AsiaOne (http://www.asiaone.com/A1MEDIA/news/05May09/images/20090506.192433_mps.jpg) Are Singapore civil servants inflexible? [Top: (from left) Ms Lee Bee Wah, Mr Lee Yi Shyan and Mr Teo Ser Luck]Are mid- and junior-level civil servants in Singapore inflexible and cut off from what is happening on the ground?Several Members of Parliament interviewed by Shin Min Daily News said it is true that some civil servants are overly bureaucratic, but these are in the minority. According to MP for Aljunied GRC Mdm Cynthia Phua, there are two types of civil servants: The first type will do what it can to address the requests of the people; the second will do everything by the rules and leave no room for negotiation.Mdm Phua recalls an encounter with the latter: She once tussled with a government department for three months over partially uncovering a drain so that rain water could flow into it.Because the offical she dealt with was inflexible, Mdm Phua had to get the official's superior to go with her for a spot check on the drain in question. It was after this that Mdm Phua got the go ahead.MP for Marine Parade GRC Mr Lim Biow Chuan had a similar experience. "Some government departments will give you model answers in the first or second replies. But the situation usually improves after MPs speak to higher-level officials," he said.Civil servants tell residents: MPs won't change our mindsAccording to MP for Ang Mo Kio GRC Ms Lee Bee Wah, some residents told her there were civil servants who told them: "You can go look up your MP if you want, but our decision will not change."Such a rigid attitude is inappropriate, said Ms Lee, who added that the tone of voice used by some of the officials who answer public queries was also not correct.MP Mr Teo Ser Luck said he has gotten feedback that there are bureaucratic people in his two ministries. He is the Senior Parliamentary Secretary for the Ministry of Transport and the Ministry of Community Development, Youth and Sports.But many have also told him that government departments now are more understanding of the common people than in the past, said Mr Teo.And with so many civil servants around, it is inevitable that there will be some people who are less flexible, he said. Also, as society's standards get higher and education levels improve, the people will demand more of government departments, explained Mr Teo."Officials need to follow policy guidelines, but some cases do call for more lively methods of handling. This is a problem for government departments to look into," said Mr Teo.Minister of State for the Trade and Manpower Ministries Mr Lee Yi Shyan suggested an alternative view to the situation.He thinks that those who approach government departments for help may already have in mind what kind of help they want. So when officials are unable to give these people exactly what they want, said Mr Lee, they may think that these officials are inflexible.
Author
Topic: Matters : Singapore, Heartland, Close to heart - Close to us (Read 5382 times)
