| Budget 2006 Highlights Visualised by archtomato On Sunday, February 19, 2006 at 3:35 Hrs | Minimum B.S. OK ok,
PM Lee unveils Budget with $3.6b to benefit all Singaporeans
By Hwee Goh, Channel NewsAsia SINGAPORE : A budget to help all Singaporeans to move forward together, with an eye to giving more to the lower income group. Prime Minister Lee Hsien Loong has unveiled a budget with $3.6 billion earmarked to help Singaporeans along. Most will go towards a $2.6 billion "Progress Package". This will include a new $1.4 billion "Growth Dividend" to all adult citizens, with the less well-off getting more. Those living in homes with an annual value of $6,000 or less and earning $24,000 or less will get $800, while those who earn more than $24,000 getting $600. A $6,000 value will cover all those who live in 1-, 2- and 3-room flats and most of those in 4-room flats. Those living in homes with an annual value of more than $6,000 and up to $10,000 will get $600 if they earn $24,000 or less, while those who earn more will get $400. Finally, those living in properties with an annual value of more than $10,000 will get $200. With the 40th anniversary of National Service approaching, NSmen and ex-NSmen who have completed their training cycle will get an NS Bonus of $400. Those who are still serving their NS will receive a $100 bonus. In future, when NSmen finish their service, they will receive a completion award of $300. Older, lower income workers who earn up to $1,500 a month, or fall within the 30th income percentile will get a workfare bonus of between $75 to $200. The bonus will be paid out in two portions – in May this year and next, to encourage lower wage workers to keep working, in order to get the bonus. Lower income families with household incomes of up to $3,000 will get help buying a flat – with an additional CPF housing grant of between $5,000 and $20,000. There is also a new Work Support programme to provide for higher childcare and student care subsidies. To continue the government’s emphasis on investing in the next generation, there is a new "Opportunity Fund" for all schools, with neighbourhood schools getting double the grant per student than the independent and autonomous schools. It will work out to about $118,000 for a typical neighbourhood primary school and $150,000 for a typical secondary school. – CNA Cheers
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ps: Elections seem to be comming. Technorati tags: Archtomato, Budget 2006
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