Budget 2011: Growing Incomes, Strengthening Our Society

1. Finance Minister Tharman Shanmugaratnam delivered the Budget Statement for the Financial Year (FY) 2011 Budget on 18 February 2011.

2. Budget 2011 prepares Singapore and Singaporeans for the long term through two main strategies:

• Growing incomes for all Singaporeans. We aim to raise incomes by 30% in real terms over the coming decade by growing the economy, upgrading our businesses and investing in raising skills and the quality of service.

• Strengthening our society. We will invest further to build an inclusive society where every Singaporean can contribute and share in our nation's progress.Budget 2011 provides $6.6 billion of benefits for Singaporeans:
  
  – a $3.2 billion ‘Grow & Share’ Package for Singapore households this year; and
  
  – $3.4 billion set aside for longer-term social investments, through transfers to Endowment and Trust funds.

3. With the economic recovery putting our fiscal position on a stronger footing, the Government has also decided to put back into Past Reserves the $4.0 billion that it had drawn earlier for the Resilience Package in 2009.

4. More details of the initiatives introduced in Budget 2011 can be found in the Key Budget Initiatives. Visit the Budget 2011 website, where you can read and download the Budget Speech and the Key Budget Initiatives.

* Budget Highlights (2011) (851 KB)
* Key Budget Initiatives 1 (Households)
* Key Budget Initiatives 1 (Business)