Global crisis and recession 4 Economic situation and prognosis for Singapore 7

ii. Sharpening competitiveness and capabilities for innovation 31

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ii. Sharpening competitiveness and capabilities for innovation 31

Reducing taxes to encourage investments 31

Making innovation pervasive 34

Sharpening business capabilities 38

F. Supporting Families 39

Direct assistance to households 39

Support for charitable giving and the community 44

G. Building a Home for The Future 46

Expanding and accelerating infrastructure spending 46

Developing suburban nodes 47

Sustainable development 48

Best place for families 49

H. Singapore’s Fiscal Advantage 52

Prudent fiscal policies have given us critical resources 53

Budget position 58

I. Conclusion 60

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A.Economic Performance and Outlook

Mr Speaker, Sir, I beg to move that this Parliament approve the financial policy of the Government for the Financial Year (FY) from 1 April 2009 to 31 March 2010.

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