REACH: 1,000 inputs on Budget 2014 have been received

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http://www.tremeritus.com/2014/03/06/reach-1000-inputs-on-budget-2014-have-been-received/

 

 

REACH: 1,000 inputs on Budget 2014 have been received

 

 

March 6th, 2014 | Author: Editorial

Dr Amy Khor

 

 

The local media reported that REACH Chairwoman Amy Khor led an online chat session on the Budget recently. She revealed that more than “1,000 inputs on Budget 2014 have been received by REACH through its various platforms”.

 

She said, “Over half of the feedback was about initiatives announced to build a fair and equitable society, such as the S$8-billion Pioneer Generation Package (PGP), healthcare affordability issues and help for older workers.”

 

No surprise whatsoever, she said overall, while there was broad and strong support for the Budget, some had concerns, such as if higher social spending by the government will lead to higher taxes in future.

 

Dr Khor also said others had lauded the fact that funds for the Pioneer Generation Package were set aside upfront so that the burden will not fall on the younger generation of taxpayers.

 

With the details of the PGP out, it’s inexplicable that of all the ‘concerns’ expressed, our REACH Chairwoman chose to highlight the one concern about potential ‘higher taxes in future’.

 

Many TRE readers and others on alternative media have little of such concerns. Instead, overwhelmingly, the issue for most is how the PGP $8 billion figure, a never-before one-off expenditure, could be magically set aside in one lump sum i.e. about 14% of total budget amount.

 

Finance Minister Tharman did say that the government “will not draw on past reserves, as we have sufficient surpluses from the last few years”. However, he did not elaborate on the details in Parliament.

 

Some also asked who and how the $8 billion will be managed. Mr Tharman had said that the $8 billion set aside for the PGP, with accumulated interest over time, will meet its full projected cost of $9 billion, including a buffer for inflation. Again, Mr Tharman did not elaborate on the details of how interest will be earned.

 

Such online discussions on alternative media showed that Singaporeans are increasingly getting very sophisticated in their thinking and the government need to be even more open and transparent especially when Singaporean taxpayers’ monies are involved.

 

The government should realise that it is now dealing with a different generation of Singaporeans compared to our parent or grandparent generations.

 

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Isn't her consituency giving put free LED lamps....