The Singapore Budget 2018 is set to be announced on 19th February by Finance Minister Heng Swee Keat.
Most Singaporeans are concerned and angry with the possibility of rise in GST tax and the application of online shopping tax. Read this article for more information: Rising GST? BitCoin Tax? Budget 2018: 3 changes to look out for
However, Minister Heng Swee Keat has advised people to focus less on the issue of taxes or the handing out of “goodies”. Instead he believes that “More can be done to meet needs of older Singaporeans“.
|Source: Straits Times|
Indeed, Singapore, with a population size of about 5.8 million, has about 8% of its population aged 65 and above. And this figure is expected to double to an estimated 900,000 in 2030, signalling the need for Singapore to prepare for an aging population.
It appears that a group of leaders comprising Health Minister Gan Kim Yong, Minister for Culture, Community and Youth Grace Fu, Minister for Social and Family Development Desmon lee and Speaker Tan Chuan Jin have made it their duty to combat the challenges faced by the elderly in Singapore.
Hopefully, the Budget 2018 will give those in and approaching their Silver Age an assurance that they had and will retire without too much worries. More information will be given on 19th Feb, just 2-3 days after most people celebrate Chinese New Year.