WHAT ARE YOUR VIEWS ON THE SINGAPORE BUDGET 2015?

During the first quarter of the year, Singaporeans will always pay close attention to the Singapore Budget Plan. That is the time when the Singapore Government will announce the expenditure to be allocated for different sectors. Previous budgets include GST Vouchers, Productivity and Innovation Credits, Micro Loans and Pioneer Generation Package. As an entrepreneur myself, I would be very keen to know what business grants/subsidies that I can tap onto this year to improve manpower issues and to increase productivity in work process.

Here are some common concerns:

  • What will the government be focusing on this year?
  • How will it benefit the citizens?  
  • How much budget will be use for healthcare? Education? Business Grants? Housing? 
  • How easily can we access the funding?

However, do you know how is the budget being processed? 

The Singapore Budget is prepared for each financial year, which begins on 1 April of every calendar year and ends on 31 March of the next calendar year. The Budget includes the revised government revenue and expenditure projections for the current financial year, as well as the planned government revenue and expenditure in the coming financial year.

The Budget Feedback Process

Before drawing up the Budget, MOF starts its public consultation process in November to gather feedback for the next financial year’s Budget. The feedback process generally lasts for about two months, and all views and suggestions submitted during the feedback period are taken into account in the design of the Budget. After which, the Budget is presented to the Cabinet for approval.

 Budget 2015 Process – 

 

 

The video below shows some pre-budget discussion. So what are your views and suggestions?

 

 

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Source: http://www.singaporebudget.gov.sg/budget_2015/AboutTheBudgetProcess.aspx

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