Budget 2014 Videos
Budget 2014: Budget surplus of S$3.9b expected for FY 2013, says Tharman
Budget 2014: Govt building on broader initiatives in education, housing, healthcare
DPM and Minister for Finance Tharman Shanmugaratnam filed a Notice of Motion for Parliament to approve the financial policy of the government for the financial year 1 April 2014 to 31 March 2015. He said the budget for fiscal year 2013 is expected to record an overall surplus of S$3.9 billion, or 1.1 per cent of GDP. This is higher than the surplus of S$2.4 billion, or 0.7 per cent of GDP, budgeted a year ago. Mr Tharman said a few factors led to this higher surplus, including temporary delays in the implementation of some public infrastructure projects.
Giving a broad outline of his Budget Statement, Finance Minister Tharman Shanmugaratnam said Budget 2014 also takes forward the major strategies the prime minister spoke about at last year’s National Day rally. He said the government is building on the broader initiatives taken in the last five years – in education, work, housing and healthcare. The changes reflect the new phase that Singapore has entered as a country – with incomes rising less quickly and disparity between different groups becoming a greater concern.