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Budget’s social, tax initiatives enjoy more backing than its economic measures

SINGAPORE — The social and taxation initiatives announced in the Budget this year were largely well received, but the economic measures received lower levels of support, the results of a poll conducted by government feedback unit REACH show.

SINGAPORE — The social and taxation initiatives announced in the Budget this year were largely well received, but the economic measures received lower levels of support, the results of a poll conducted by government feedback unit REACH show.

For instance, 64 per cent of respondents agreed that the increase in healthcare subsidies and employers’ Central Provident Fund (CPF) contributions to Medisave would significantly improve healthcare affordability for lower- and middle-income Singaporeans.

Sixty-four per cent of respondents also agreed with the move to raise taxes for liquor, tobacco and betting duties to help avoid excessive consumption in these areas, while 19 per cent disagreed.

A smaller proportion — about 53 per cent — agreed that Budget initiatives to help businesses restructure and improve productivity would result in better jobs and higher wages for Singaporeans.

According to REACH, there was recognition that help rendered to firms through the Budget initiatives would continue to be useful, such as the extension of the Productivity and Innovation Credit scheme and enhancements made to it. However, some business owners called for more government assistance in managing business costs.

The poll was conducted over the phone with 946 randomly selected citizens aged 20 and above from Feb 24to March 6. Overall, seven in 10 Singaporeans supported the Budget initiatives announced, with the same number agreeing that the new Pioneer Generation Package would ensure affordable healthcare for Singaporeans aged 65 and above.

However, some called for more help to be extended to the mentally disabled as well as additional healthcare subsidies for children with special needs, while others asked for more sustainable ways to manage rising healthcare costs.

Some respondents were concerned that the rise in CPF contribution rates for older workers might lead to higher unemployment among the elderly, as it could make the hiring of older workers more costly and employers would have to deal with higher overheads.

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Budget 2014

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