Channel NewsAsia: MP Low queries gap between expected budget deficit and final surplus

By Chio Su Mei


Mr Low Thia Kiang

SINGAPORE: Opposition MP Low Thia Khiang questioned the gap between the initial projection of a budget deficit of S$0.7 billion and the final reported surplus of S$6.4 billion in Parliament on Monday.

Speaking in Mandarin, the MP for Hougang said this reflects the government’s inability to project the nation’s financial status accurately, which he said is a cause for concern.

But now that there is a surplus, Mr Low argued that the government should use the funds to counter rising costs, and also lower the GST to help the lower income group.

Responding to Mr Low, the MP for Yio Chu Kang, Seng Han Thong, said the government has always exercised prudence, and any budget surplus, is always good news.

Mr Seng rebutted Mr Low’s view that not enough has been done to help the needy.

He pointed out that a low-income family could receive as much as S$3,200 in subsidies under the 2008 Budget. – CNA/vm

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Posted in 2008 02. Comments Off on Channel NewsAsia: MP Low queries gap between expected budget deficit and final surplus
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