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Singapore Budget 2006

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	Budget 2006

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Budget Speech 2006

PART I - TAKING STOCK

PART II - UPGRADING AND RESTRUCTURING THE ECONOMY


		Become a Knowledge Hub

		-	Invest in R&D - Knowledge Creation
		-	Bring the World to Singapore - Knowledge Exchange


		Build on our Strengths in Manufacturing and Services

		-	Manufacturing as a Key Engine of Growth
		-	Develop a Full-Service Global Financial Centre
		-	Grow Dynamic Maritime and Logistics Industries
		-	Build Up New Services


		Support Entrepreneurship and Enterprise

		-	Support Local Enterprises Going Global
		-	Reduce the Regulatory Burden on Local Enterprises


		Grow our Human Capital

Maintain a Competitive Tax Environment

		-	Personal Taxes
		-	Corporate Taxes
		-	Goods and Services Tax
		-	Assets Taxes
		-	Other Taxes
		-	Fiscal Sustainability

PART III - HELPING SINGAPOREANS MOVE FORWARD TOGETHER


		Expand Job Opportunities

		-	Job Re-creation Programme
		-	ADVANTAGE!


		Higher Skills for Better Jobs

-

Workforce Skills Qualifications System

-

Top-up to Lifelong Learning Fund


		Social Support to Enable Work

-


		Creating Hope for the Future

		-	Raise Income Thresholds for Financial Assistance Scheme
		-	More Support for Kindergarten and Childcare
		-	Raise Income Threshold for Edusave Merit Bursary
		-	Invest in Vocational Training
		-	Expand HOPE


		Rewarding Work

		-	Additional CPF Housing Grant
		-	Affordable Housing Options


		Sharing in the Nation's Progress

PART IV - A PROGRESS PACKAGE


		Share the Fruits of Growth with all Singaporeans

-

Growth Dividends


		Reward Low-Wage Workers for Work

-


		Help Lower-Income Households

		-	Utilities-Save Scheme
		-	Rebates for Service & Conservancy Charges and Rent


		Help the Elderly meet Retirement and Healthcare needs

		-	Top-ups to Eldercare Fund and Medifund
		-	Top-ups to CPF Special / Retirement and Medisave Accounts


		Invest in the Next Generation

-

Opportunity Funds


		Recognise the contributions of our NSmen

		-	40th Anniversary NS Bonus
		-	ORNS Completion Award
		-	Additional Tax Relief for NS Key Command and Staff Appointment Holders
		-	Changes to the assessment period for NSmen tax relief


		How the Progress Package will help typical families

PART V - CONCLUSION


		FY06 Budget Position

		Singapore - Our Best Home

ANNEXES


		Annex A :	Tax Changes to Promote the Financial Sector

		Annex B :	Tax Changes to Grow Dynamic Maritime and Logistics Industries

		Annex C :	Review of Record-Keeping Periods

		Annex D :	Review of Industrial Building Allowances

		Annex E :	Budget for FY2005 and FY2006