Budget 2011: Growth dividends for all adult Singaporeans
SINGAPORE: One of the measures from this year’s Budget includes payment of growth dividends.
The Ministry of Finance (MOF) said they will give growth dividends to all adult Singaporeans.
As in the past, the amount each Singaporean will receive will depend on his income and value of his home.
Finance Minister Tharman Shanmugaratnam said 80 per cent of Singaporeans will receive S$600 to S$800 in Growth Dividends.
“Those with low incomes and who live in a three-room or smaller HDB flat will get a growth dividend of S$800,” said Mr Tharman in his Budget speech in Parliament on Friday.
Meanwhile, “those in the middle-income group and who live in HDB flats and low-value private homes will receive a growth dividend of S$600,” he added.
Mr Tharman said he would also give S$300 to those who live in expensive homes but do not have high incomes.
National servicemen and full-time national servicemen, including those below 21 years of age, will receive an additional S$100 in growth dividends.
MOF said the growth dividends will benefit about 2.5 million Singaporeans and will cost the government S$1.5 billion this year.
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