Singapore Budget 2009 Brief overview~! – Clear Video Quality~!

Budget 2009 Highlights Minister for Finance, Mr Tharman Shanmugaratnam unveiled a Resilience Package totalling $20.5 billion during Budget Speech 2009 to help Singapore see through the current period of exceptional difficulty. The key objective of the Package is to help Singaporeans keep their jobs to the maximum extent possible and help viable companies stay afloat. The Package prepares Singapore to emerge with strength when the global economy recovers, and enhances capabilities and competitiveness for the long term. The Package has five components: 1) Jobs for Singaporeans The Government will spend $5.1 billion to help Singaporeans stay employed so they can continue to support their families by introducing a Jobs Credit Scheme, Enhancing SPUR, (Skills Programme for Upgrading and Resilience) providing a WIS Special Payment and expanding recruitment across the public sector. 2) Stimulating Bank Lending The Government will extend $5.8 billion of government capital to stimulate bank lending through enhancing existing schemes and a new Special Risk-Sharing Initiative (SRI). The SRI comprises a new Bridging Loan Programme (BLP) and new risk-sharing schemes for trade financing. 3) Enhancing Business Cash-flow and Competitiveness The Government will implement various tax concessions and measures costing $2.6 billion to ease business cash-flow and sharpen Singapores competitiveness. 4) Supporting Families The Government will spend $2.6 billion on direct assistance to <b>…<b>

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