By Jermyn Chow, The Straits Times, 12 Mar 2012
LAW and Foreign Minister K.Shanmugam yesterday described this year's Budget as an inclusive one that leaves no one behind.
While the Government is spending more to look after the less well-off and elderly, it must take care not to burden younger Singaporeans with higher taxes.
Referring to the recent debate over whether Singaporeans earning $850 or $1,000 a month can buy an HDB flat, Mr Shanmugam said: 'We don't want anyone to earn that amount.
'That is why we give opportunities for people to upgrade themselves. And education is made, you know, literally free for those who can't afford to pay for it. But even then, we recognise there are some people who, despite all the opportunities, will still find it difficult.'
Mr Shanmugam was responding to questions from the media about the recently concluded Budget debate in Parliament, on the sidelines of a grassroots event in Nee Soon GRC.
Even though this is a society where people look after one another, only about 50 per cent of Singaporeans pay taxes, Mr Shanmugam noted. So the Government has to keep an eye on how much it gets and what it spends on.
'Today, you look at it in those terms, in terms of revenue and expenditure, it is something the Government has to be careful about - as we have an ageing population, we must also make sure our younger people, those in their 20s, 30s or 40s, are not saddled with a heavy tax burden.'
Mr Shanmugam said foreigners and the better-off pay a 'significant part' of taxes here. He said Singapore must continue to keep tax rates competitive, rather than let them rise to as high as 40 or 50 per cent, as they are in Britain.
'We don't want those kind of rates. We'd rather people keep their money and spend it as they like, buy insurance for their health, and at the same time, the Government supports those who, despite all the help, still need further help.'
Mr Shanmugam was responding to questions from the media about the recently concluded Budget debate in Parliament, on the sidelines of a grassroots event in Nee Soon GRC.
Even though this is a society where people look after one another, only about 50 per cent of Singaporeans pay taxes, Mr Shanmugam noted. So the Government has to keep an eye on how much it gets and what it spends on.
'Today, you look at it in those terms, in terms of revenue and expenditure, it is something the Government has to be careful about - as we have an ageing population, we must also make sure our younger people, those in their 20s, 30s or 40s, are not saddled with a heavy tax burden.'
Mr Shanmugam said foreigners and the better-off pay a 'significant part' of taxes here. He said Singapore must continue to keep tax rates competitive, rather than let them rise to as high as 40 or 50 per cent, as they are in Britain.
'We don't want those kind of rates. We'd rather people keep their money and spend it as they like, buy insurance for their health, and at the same time, the Government supports those who, despite all the help, still need further help.'
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