bahget 2011

so you have it. budget 2011. how was it for you? did it meet your expectations? could the government have done more? or have they done too much?

for me, the budget was the same as every other year. cold, calculated, and convenient.

the government had pledged to help low and middle income families with the rising costs of living. their solution? a one-time off $100 to $800 "grow and share" package. what? you mean after a bumper year of 14.5% (oft cited, but actual value needs to be further substantiated in another post) growth, a one-time shot in the arm is enough to help all singaporeans? logic will tell you that keeping costs low, and not disbursing financial assistance, will be more helpful to the everyday singaporean. simply because $800 today will be worth $700 tomorrow, and probably even less the year after given our crazy inflation rate nowadays. but cash in the bank is always good, especially with myopic singaporean and the elections round the corner.

as expected, most of the budget initiatives also came from cpf top-ups. how convenient! by doing this, the government can pass off the illusion of helping the people without actually having to draw on its coffers. because as we all know, cpf money is virtual money. you know, sort of like a walt disney cartoon: comforting to see that sum in your cpf bank account, but you know that you can never touch it until the day you die. i think the only person who has benefited from this portion of the budget is our dear cpf chairwoman herself, ms ho ching.

the only part of the budget which i agreed with was the abolition of the radio and television license fees. finally! this should give mediacorpse some wake-up call and hopefully kick them on their asses to produce some shows that can actually be watch-able.

so while you go out and celebrate and count your blessings, the larger question remains: is this the best that the government can do? i thought that they could have done more, especially when mr tharman announced that the government was putting $4b back into the reserves. cut back financial aid? curtail government spending? yes, if public spending is in deficit. but i guess we are so uniquely singaporean that we have to be "responsible and prudent" even in good times. certainly, i do not wish for us to be too extravagant, but a little bit more tangible reward would not break the bank either.

and lest you forget, you forgetful singaporeans, the public transport fare review exercise and gst increase are upcoming. you think you can get your money so easily? ha! wait long long.. =P