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» BUDGET HIGHLIGHTS

Singapore 2007/08 budget surplus at S$6.4 billion
Manufacturing investment likely S$16 billion in 2008
Rising cost of living a major concern
There is limit on Singapore dollar appreciation
To adjust tax policies to stay competitive
Research spending to be increased to S$7.5 billion by 2010
Tax deductions for R&D to rise to 150 percent from 100 percent
To keep business cost competitive against other cities
To defer another S$1 billion of public construction projects
Corporate tax rate of 18 per cent is competitive
To introduce tax incentives for family-owned holdings and insurance brokers - To drop estate duty immediately
No cut in personal income tax this year
Grants 20 percent income tax rebate capped at S$2,000
To tax all alcoholic beverages based on alcohol content
Expects 2008/09 budget deficit of S$0.8 billion

For more highlights, click here.

Finance Minister
Tharman Shanmugaratnam

» ANALYSIS & OPINION

	Steady income for life More details on HDB Lease BuyBack Scheme released yesterday. It will help 25,000 needy households.

Budget was good, but is the debate? Reader: current parliamentary debate is skewed towards scrutinising short-term 'hongbao' measures.

	Finance Minister not God of Fortune A surplus of $6.4 billion in the national Budget is 'embarrassing', when a deficit of $0.7 billion had been projected. And the size of the surplus has become an item the Finance Minister has to account for.

Rising costs, price hikes top concerns of MPs How will Budget 2008 affect three working Singaporeans at different stages of their lives?

	What you can do with your Budget windfall Let's look at how some of the Budget handouts will help improve the personal finances of individuals.

Budget 2008: Businesses highlight what's 'wanting' Besides rising costs, they could also do with help to tackle a growing manpower crunch.

	The impact of Budget on us How will Budget 2008 affect three working Singaporeans at different stages of their lives?

	The Budget and us How are young Singaporean executives reacting to Budget 2008?

Budget boost for middle class It has helped S'poreans cope with their top concern - rising prices - by putting cash in the hands of both low-income and middle class workers, said MPs.

L-Bonus 'good' but it's too early to decide for some That was what Central Provident Fund members over 50 who were interviewed felt.

Safe Budget for the times The 2008 Budget has been prepared with the near certainty of a slowdown in prospect.

	If I were the finance minister... Today is Budget Day and young executives were asked how they would allocate national spending. They came up with some surprising answers.

	S'pore budget to cushion impact of slower growth: analysts S'pore budget to cushion impact of slower growth: analysts.

» BUDGET STORIES

Much awaited hongbao With rising living costs and strong surpluses, the much awaited hongbao has come. As part of his Budget speech in Parliament on Friday, Finance Minister Tharman Shanmugaratnam announced a $1.8 billion 'surplus sharing package' for S'poreans, including education grants, Medisave top-ups and personal income tax rebates and 'Growth Dividends', which will put cash in the hands of all adult S'poreans. » Hongbao Budget » More on Growth Dividends

2008 Budget: to build top quality economy, resilient economy It is about keeping all S'poreans together as they grow and ensuring that no one is left behind, said Mr Shanmugaratnam when summing up the Budget speech.

Public assistance to rise to $330, more funds for ComCare The scheme applies to needy Singaporeans who are not able to work and have no other means of support.

	More financial aid and top-ups for students at all levels The Govt will commit more resources at all levels of the education system to nurture every skill and talent.

	Older workers: Bonus to sign up for CPF Life, Medisave top-ups For a 50-year-old, the bonus will be between $2,200 to $4,000 depending on the size of his flat.

	S'poreans to get income tax rebate of 20% on 2008 income The rebate will be capped at $2,000.

	2-room HDB households will continue to get GST offset package, Workfare supplement These benefits will be equal to 12 per cent of their annual incomes.

	Land sales to generate $9.8b in '08/09 Proceed from land sales are expected to slip six per cent in the coming fiscal year.

	Estate duty to be removed These are taxes collected on wealth left behind after an individual's death.

S'pore to boost expenditure, raise defence spending Over a quarter of its estimated expenditure of $37.5 billion will be directed to defence, a rise of 7.2 per cent over last year's budget.

Zero budget balance for FY2008 - after offsets and rebates: Tharman Singapore will likely end the new financial year with 'close to zero' budget balance - afer reporting a surplus of $6.4 billion in the last budget year.

	The 2008 budget has four key thrusts: Tharman Mr Shanmugaratnam said this year's Budget is about creating new advantages and fresh opportunities for Singapore in a competitive world.

	S'pore's budget surplus for 2007 expected to be $6.4b: Tharman The growth rate of 4.5 per cent to 6.5 per cent was also in line with market forecasts.

	Wanted: Your views about Budget 2008 Feedback unit will be conducting a two-week post-Budget feedback exercise to seek Singaporeans' views.

	Finance minister to deliver 2008 budget speech on Friday Members of the public can also visit the Singapore Budget website to place an online request for the Budget Statement to be emailed to them.