Finally after months of gathering ground feedback by the various agencies, Budget 2010 was unveiled by our Finance Minister Mr Tharman Shanmugaratnam on 22 Feb 2010. Prior to minister’s speech in parliament, all eyes were on what type of budget would roll out and whether there were goodies. The closely guarded state secret was officially out on Monday and “productivity” became a buzz word. Some defines productivity as doing more works or more overtime works, some disklikes “productivity” as productivity means head count reduction etc It is interesting to listen to what people has to say.
By now, I think many would have known at least some details of the Budget 2010 and I would not elaborate. Well, some $7 billion are allocated to transform the economy. With this substantial sum of money, if it is successfully implemented, Singapore could see a big leap forward in term of higher incomes and higher standard of living. Are these not what we are looking for?
Nonetheless, when I scanned the discussion threads in various forum pages, it seemed to me that many people did not really understand the intent and the long term strategic value of Budget 2010. Many in the discussions were examining the Budget from the perspective of “what is in there for me? No tax cut, no this and no that and henceforth Budget 2010 is budget that does not cater to the ordinary folks. Many also issued threats at ballot boxes.
I must admit that there are few goodies in this year budget. Though I may not benefit directly from the budget, the good thing is that the implementation of the budget if it is successful would indirectly benefit many Singaporeans including I. In all fairness, any decision taken or thing we do or do not do would make some happy and upset some. Even decisions make in the family would also at times create happiness to some family members while some would be upset.
We knew about the state of economy last year, therefore Budget 2009 was about keeping jobs to remain employed thereby helping families to weather the economic crisis and investing in the future.
In essence, Budget 2010 is about building superior skills to produce quality jobs and thereby generating higher incomes for Singaporeans. With a better forecasted economic outlook, we need to move beyond merely keeping jobs while other economies especially our immediate neighbour is moving in fury to knock us out of the competition the sooner the better. Remember, Singapore was one of the 4 dragons in Asia and we need to keep this advantage. Otherwise, we would be migrant workers one day in foreign lands. By then it may be too late to reverse our fortune. It would take many years to recover.
To implement the intent of the Budget 2010 (superior skills, quality jobs and higher incomes), three main thrusts were identified.
a.Raising productivity through skills and innovation
b.Growing globally competitive companies
c.Helping Singaporeans to grow
Within the thrusts, there are strategies which I will not go in details as they are already available in the media reports .
The budget may be out, however, the implementation phase of the budget may pose challenges. To smoothen the implementation phase, a dialogue was arranged by the Changi Simei Citizens’ Consultative Committee on 24 Feb 2010 at Changi Simei Community Club. The objective of the dialogue was to seek clarifications, provide feedbacks, suggestions, concerns and personal views on Budget 2010 to Ms Jessica Tan, our Member of Parliament for East Coast GRO and Adviser to East Coast GRO GRCs. Participants had chosen to participate in the dialogue to shape the future of our country.
The dialogue was well attended by more than 120 grassroots colleagues, community partners and businesses from the Industrial Park Associations. The session was a vibrant and passionate sharing. Many of the participants took turns to speak on the Budget, their ideas, ideals, pitfalls and ways to help SME to reap the benefits of the budget etc for cabinet’s considerations when the budget is ready to roll out to the ordinary folks on the street. During the dialogue, concerns and doubts raised were also being clarified by Ms Jessica Tan. I enjoyed the session and more importantly the session provided better clarity on the budget rather than second guessing and hearing from grapevine which at times are highly distorted or a complete twist of reality.
At the end of the dialogue, those who attended appreciated the government’s intention and strategy to bring Singapore to the next S-curve. Without the long term vision, how long will Singapore survive on its own with no natural resources and no hinterland? Our $billions in the national reserves may not last long either. I urge readers not to be quick to condemn but take a closer look at the budget to understand what the budget is all about.
Remember, we plant a rain tree for its shade, but we may not have the shade for many years to come as the tree takes time to grow and mature. When the shade is ready, we may not be around to enjoy it. Does it mean that we don’t plant that tree now? We would be very selfish if we do not care about the future but focussing on short term gains only. The Budget 2010 strategises the future of Singapore by laying the foundation now instead of procrastinating it to the future just because of unhappiness from some quarters and there is no perfect timing or perfect window of opportunity. Just do it.
God bless us.