| Total development outlays in FY97
are projected at $27.0 billion. This comprises $9.8
billion in development expenditure, which refers to
development outlays funded from operating revenues,
and $17.2 billion in loans to statutory boards.
Development expenditure in FY97 is
projected to increase marginally from $9.6 billion in
FY96 to $9.8 billion. This is the second successive
year for substantially higher development spending,
considering that development expenditure varied between
$3.9 billion in FY93 to $6.0 billion in FY95. As a share
of GDP, development expenditure is expected to reach
6.6 per cent in FY97, slightly less than the 7.1 per
cent in FY96, but substantially higher than the FY95
level of 4.8 per cent.
Economic and infrastructural development
is expected to take 41 per cent of total development
expenditure, exceeding the share of social and community
services which was the leading spender in past years.
While funding on social and community services continues
to increase, development expenditure on economic and
infrastructural development is set to double from $2
billion in FY96 to $4 billion in FY97.
This shift reflects government's determination
to step up economic initiatives to woo new investments
and to boost Singapore's attractiveness as an investment
destination. Some of the major economic projects include
land reclamation at Changi East, Tuas View and Jurong
Island, the building of a road link to Jurong Island,
the development of the Southern Islands, and compensation
for sites in Woodlands identified last year to be acquired
for expansion of wafer fab plants.
To strengthen our domestic economy
further, financial assistance through the provision
of grants and loans will be provided under the Economic
Development Assistance Scheme and the Cluster Development
Fund. These will attract and nurture investments in
Singapore and upgrade the capabilities of our local
companies. Another $482 million in research funds is
being provided to widen and deepen Singapore's R&D
base under the aegis of the second National Science
and Technology Plan. Funds are also provided under the
Tourism 21 Masterplan to upgrade our tourism industry
and to maintain Singapore's position as a tourism centre
in the region.
On infrastructure, a major commitment
is government's vision to build a world class transport
system in Singapore. A firm decision has been taken
to proceed with the construction of the North-East MRT
Line, the Changi Airport MRT Extension and an LRT system
in Bukit Panjang. These are further steps in our aim
to develop a first class public transport system as
an alternative to private car ownership.
Social and community services will
take up the second largest share of 32 per cent of development
expenditure, with major allocations to education, public
housing, the environment and healthcare. If loans are
included, the share of social and community services
in development outlays rises to 70 per cent.
Education accounts for one-third of
development expenditures within this sector, mainly
on the building and upgrading of schools, and purchases
of computer equipment to introduce IT into classroom
teaching. Public housing is next, with one-quarter of
the allocation, or a sum of $860 million. This includes
$257 million in capital subsidies to HDB for building
of flats, and a larger sum of $415 million for the main
and interim HDB upgrading programmes. Environment projects
include the 5-year programme to upgrade sewerage facilities
and the development of an off-shore sanitary landfill
off Pulau Semakau.
Although small in comparison, development
expenditure on information and the arts will double,
while that for community development is planned to increase
by nearly 50 per cent. Our public libraries will be
revamped and expanded into a new network of regional,
community and neighbourhood libraries supported by a
sophisticated IT infrastructure. This will improve access
to books and information materials and help cultivate
a well-read and informed society in Singapore. It will
cost the Government over $600 million over the next
four to five years.
New sports and recreational centres
will be built in Bishan, Bukit Gombak, Choa Chu Kang,
Jurong East and Jurong West, to improve access to sporting
facilities and encourage wider participation in sports
for a healthy lifestyle. Older community centres are
also being upgraded to meet the higher expectations
of Singaporeans for better recreational facilities.
Major development expenditures subsumed
under the security sector include the re-development
of the Woodlands Checkpoint to accommodate heavier causeway
traffic, a new checkpoint complex at the second crossing
at Tuas, and the building of a new Police HQ Complex.
To ensure readiness during an emergency,
civil defence shelters will be built in all new HDB
flats and underground MRT stations on the North-East
MRT Line.
Funds are also set aside for the construction
of a new race course complex at Kranji to allow the
relocation of the Turf Club from its present site. This
will free up land in Bukit Timah for good quality residential
housing. |
