Youthspeak budget 2009 ~ Suraj Singh

Yst after my relationship talk, i went to the YOUTHSPEAK BUDGET 2009.. it's a forum held at PAHQ.. i was invited by Janice..

Reach there ard 6.45pm.. went in to registered myself..then i was given a sticker to stick on my shirt..Had my dinner there..and i proceed inside to wait for the forum to start. The forum starts at 8pm and the opening was start by minister of Defence Mr Teo.. he speaks on quite a number of new scheme coming up to help save the Company, the businesses, the employees and employer.

The Budget this year is used at?

5.1 Billion (Jobs)
5.8 Billion (Credit)
2.6 Billion (Business)
2.6 Billion (Families)
4.4 Billion (Future)

In the WORST Economic crisis ever? will our CPF be cut? like what has happen in 1997 when the economic crisis hits singapore.

I must be proud to said that Singapore Govt did a good job in handling the economic crisis. And there will be no CPF Cut..

Because:

1. Long term implications
-Affect ability to meet mortgage payment as majorities on the Singaporean uses CPF to pay for their housing loans.

2. Reduces Singaporeans' Retirement

Workfare Special Payment

50 yrs old that earns $1000 now can get up to $1800

SPUR for workers and Professionals

Help rank-and-file workers and PMETS
Increases Course-fee subsides from 80%-90% for PMET
Expand list of professional Course

House Hold GST Credit

Double 2009 GST Credit

Less than $6000

21-54 years old gets $250X2 NS MEN $100*

55-59 Years old gets $400X2

60> gets $500X2

USAVED=Utility saved

1 room $210 4.5 months
2 room $210 3 months
3 room $190 3 months
4 room $180 2 months
5 room $110 1.5 months
Exec $70 1 month

This money will go to your PUB Account to help you in paying your bills in Utility.

Personal income tax rebate20% PIT Rebate for YA 2009

Rebate capped at $2000

Lost of jobs? no money to pay income tax? no worries.. IRAS will let you have 2 yrs time to pay your income tax.. Even though you lost your job, but still have to pay.. lol.. that's what Mr Teo said.. hahas.

Rental Rebate

1 room 4 months
2 room 3 months

it's like the govt paying for your rent and you will be like staying for free for 4 months for 1 room flat.

Use of reserves

I Think this is the one where everyone is concern about. It it really that serious that we have to use the reserve?

Reserve is used in exceptional case as this is the worst recession in 60 yrs.

Reserves will not be used

1.To fund social assistance programmes
2.To fund permanent programmes
3.No draw except under dire circumstances when one off extraorinary

The reserve is saved since singapore's independence day.

It's good to have reserved, and it's good that singapore has saved ever since.

Govt will monitor situation and is committed to helping individuals & improving the economy.

After the intro, it went on with Mr Tan from NTU.

and after that we got to ask qns..

someone ask, because singapore now is 4.8 million population and in the future the govt hope to get 6.5 million.. but now with 4.8 million the space is so less and cramp.. if really 6.5 million ppl stay in singapore wouldn't it be more cramp? and the cars usage? fuels?

Dr tan replied:

it's good that we will have 6.5 million ppl.. firstly..the air will be clean with less pollution. why i say so? because you stay in 25th floor..office are built near mrt station.. your office is at level 10 you don have to drive to work.. you just need to take the lift to work.. less car.. you only need car to go malaysia WHEN YOU WAN TO SPEED. hahas..

Will the future be like what Dr Tan has said?

Dr tan added:

Singaporean likes small family.. the most they only have one child.. if they have two normally is no choice becos twins.. lol..