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[quote=GUESTSHARER,273213]A source reported that Singaporean government had handed out 1.8 billion Singaporean dollars hongbao package to its people on Feb. 15th. This has aroused heated discussions. It is said that Hong Kong might take the same measure to benefit its people. I just wonder if mainland can take its measure too. Do you think it is a good idea?

Source: Straittimes

$1.8b hongbao package for all S'poreans

By Lydia Lim, Senior Political Correspondent 
ALL Singaporeans will benefit from a $1.8 billion surplus-sharing package that Finance Minister Tharman Shanmugaratnam unveiled in Parliament on Friday.
 
Everyone will gain from the $865-million Growth Dividend scheme, with the largest cash gifts going to lower and middle-incomers.

Tax payers will get a personal income tax rebate of up to $2,000.

Older Singaporeans aged 51 and above will receive top-ups of between $150 to $450 to their CPF Medisave accounts this year, to help them pay for medical bills and higher Medishield insurance premiums.

All these are possible because of last year's bumper overall budget surplus of $6.4 billion, the result of excellent economic growth and a buoyant property.

To help Singaporeans save more for old age, Mr Tharman also announced a special sign-on bonus of up to $4,000 for lower and middle-incomers who join the new CPF Life annuity scheme.

On the economic front, Mr Tharman highlighted the importance of ensuring Singapore keeps its edge in the contest against other cities through measures to nurture 'top quality people and top quality enterprises'.

Businesses stand to gain from tax deductions, tax allowances and new incentives tied to Research and Development done here.

To help keep business costs down, the Government will vacate much-needed office space in the central area and defer $1 billion worth of projects, to ease the pressure on rental and construction costs.

Education and training are also key to ensuring competitiveness.

Bursaries and loans for university students will be enhanced so that those from the lower two-thirds of the population will not need to expend cash for either fees or living expenses during their university years.

Workers keen to upgrade their skills will benefit from this year's $800 million top-up to the Lifelong Learning Endowment Fund, bringing it to $3 billion.

Mr Tharman also announced tax changes to support the growth of small and medium sized enterprises, encourage risk taking and strengthen Singapore's role as a financial and business hub.

He said ultimately, Signapore's success as an economy and resilience as a society would not depend on how much the Government could hand out each year, but on people's confidence that this remains a home where they have opportunities to excel.

'We will ultimately succeed and remain a country that all Singaporeans feel proud of, if we continue to be a place where every Singaporean can aspire, where there is opportunity to develop every skill and talent, and where everyone does his utmost to do better and surprise with his abilities. That is how together, we will stay ahead, keep amazing the world and achieve a better quality of life for all Singaporeans.'

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