| FY06 Budget Position
5.1 Mr Speaker, Sir. Before factoring in Special
Transfers, we expect a surplus of $0.7 billion
for FY2006. Taking into account the Progress Package,
the top-ups to the endowment funds and our investments
in R&D, we are left with a budget deficit
of $2.9 billion. The Government is able to finance
this from funds accumulated in its current term
and will not need to draw on past reserves. More
details on our fiscal position can be found in
Annex E
and the Budget Highlights.
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