Singapore Government
Singapore Budget 2006
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Budget 2006
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Budget Speech 2006
   

How the Progress Package will help typical families

 

4.31 Let me illustrate how the Progress Package will benefit some typical Singaporean families. An elderly couple in their 60s, retired with no children and living in a 3-room flat, will receive $3,300. A family of four living in a 4-room flat, with two parents in their 50s, the father an ex-national serviceman earning $1,500 a month, the mother a housewife, the son serving National Service and the daughter in secondary school, will receive a total of $3,780. The daughter will also benefit from her school’s Opportunity Fund, through subsidised enrichment activities.

4.32 Notification letters will be sent out in late March to all Singaporeans informing them of the total amount that they can expect under the Progress Package. To accept this Package, all they need to do is to sign up through ATMs, the website or hard copy forms. Singaporeans can look forward to receiving their Growth Dividends, Workfare Bonus and 40th Anniversary NS Bonus, and the CPF top-ups on 1 May 2006.

4.33 In total, the Government will share $2.6 billion with Singaporeans under the Progress Package. Every citizen will benefit. This package will help us achieve our social objectives of helping the lower-income groups, looking after the elderly, investing in the young and recognising the efforts of our NSmen.

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    ANNEXES
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      Annex A : Tax Changes to Promote the Financial Sector
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      Annex B : Tax Changes to Grow Dynamic Maritime and Logistics Industries
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      Annex C : Review of Record-Keeping Periods
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      Annex D : Review of Industrial Building Allowances
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      Annex E : Budget for FY2005 and FY2006
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