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He is good! [media][/media]

Saw someone posted at hardwarezone, think it's worthy to post it here. Tharman as expected is excellent. The 'trampoline' response stunned everyone. I wonder how our PM would fare under such interview.

DPM Tharman: Government revenues need to be raised. New ways to raise revenue needed, says DPM Tharman 04:46 AM Mar 02, 2012 by Neo Chai Chin SINGAPORE - As the Government ramps up healthcare spending, keeps up social mobility and gives a leg-up to society's lowest wage earners, it will also need to find new ways of raising revenue after 2016, said Deputy Prime Minister Tharman Shanmugaratnam yesterday as he wrapped up the three-day Budget debate. Even as he affirmed a judicious spending approach to avoid a heavy tax burden on middle-income earners, he rolled out examples to illustrate how the Government has addressed inequality, while promising to look into suggestions raised by Members of Parliament. Mr Tharman, who is also Finance Minister, noted that low-income households received over S$4 in benefits - through schemes like Workfare, housing and education subsidies - for every dollar of tax they pay. The Government pledged to do more for low-wage workers like cleaners and security guards. The Manpower Ministry is working with the National Environment Agency to help cleaners, and with the Home Affairs Ministry in the case of security guards, said Mr Tharman. Healthcare spending over the next 20 years will go up from the current 1.6 per cent of gross domestic product (GDP), to 3.5 per cent of GDP by 2030, said Mr Tharman. For the elderly, the amount of money from the Silver Housing Bonus and Lease Buyback Scheme to be locked up for the CPF Life scheme will be reviewed over the next two months. The suggestion to further tap risk-pooling and enhance portable medical insurance will be studied. Refuting the perception of some that the sandwich class - squeezed by costs of caring for aged parents and young children - were somewhat left out of this year's Budget, Mr Tharman said the Medisave top-ups the middle-income group will receive via the GST Voucher will be enough to fund half their annual Medisave withdrawals on average. But the Government's basic strategy to help the middle-income group is to ensure real wages rise and tax burden remains low. A "fair tax system" must be sustainable, "not just for five or 10 years, but well into our children's generation", stressed Mr Tharman. Beyond 2016, the Government will have to find new sources of revenues, including tax revenues. "For these five years, we're okay and that's why we're setting aside monies in trust funds and endowment funds to fund future spending whilst we still have the resources," he said. "But in the 10 to 15 years after 2016, we do have a real challenge, and we'll have to think beyond growing the economy and sustaining revenues based on GDP growth." Mr Tharman rejected Workers' Party chairman Sylvia Lim's suggestion to increase spending on healthcare to 6.1 per cent of GDP, as in the OECD. According to Mr Tharman, it would mean one of three scenarios: GST has to rise to about 20 per cent, corporate income taxes have to rise to about 40 per cent, or personal income taxes will have to rise to a top-line rate of about 60 per cent. Instead, he felt, the focus should be on outcomes. URL http://www.todayonline.com/Singapore/EDC12...ays-DPM-Tharman Copyright 2012 MediaCorp Pte Ltd | All Rights Reserved Moral of the story: sometimes its not just all about just money, oftentimes, some heart ware too is very necessary. ~ Matthew 25:40: "The King will reply, 'I tell you the truth, whatever you did for one of the least of these brothers of mine, you did for me.'"- (NIV) Regards B.C.

Property gurus and experts like changman999... please comment

http://www.channelnewsasia.com/stories/sin...1177383/1/.html SINGAPORE : Finance Minister Tharman Shanmugaratnam has said that not allowing banks to finance Certificate of Entitlement (COE) prices will not be effective in moderating the rise in premiums. Responding to a call by MP for Pasir Ris-Punggol GRC Gan Thiam Poh to set loan limits in order to moderate COE prices, Mr Tharman said people can turn to other borrowing avenues like car dealers and leasing companies to get around bank rules. He said other factors play a bigger role in influencing COE prices. "The more fundamental factors which impact on COE premiums include the economic outlook which shapes demand and the supply of COEs which is determined by the allowable vehicle growth. And by car owners' decisions on their own part to de-register, whether they decide to de-register their cars," said Mr Tharman. He added: "Car loans granted by financial institutions do not pose threats to financial stability. These loans form a very small proportion of total loans in the financial system, or even of total consumer loans. And the proportion of car loans that are non-performing loans is low, extremely low." - CNA/ms

HONG Kong Financial Secretary John Tsang made a big impact with his maiden budget speech yesterday - as big as HK$70 billion (S$12.6 billion) worth of goodies, to be precise. And the package, which comes on the back of Hong Kong's biggest ever budget surplus of HK$115.6 billion was generally lauded as having something for everyone. It includes income and corporate tax cuts and rebates and allowances for the poor and elderly. Drinkers will cheer the abolition of wine and beer tax, which is aimed at turning the city into a global wine trade hub. Income tax was cut from 16 per cent to 15 per cent, returning it to pre-Sars levels, and a one percentage point drop in corporate tax, to 16.5 per cent, fulfilled a promise made by Chief Executive Donald Tsang in October. There was also a one-off 75 per cent reduction on income tax for 2007/08, up to a limit of HK$25,000 a person. And for those on lower incomes, a one-off HK$8.5 billion injection will put HK$6,000 into each provident fund of those earning HK$10,000 or less a month. At the same time, Mr John Tsang, who took over as finance chief last July, made it clear that he had an eye on the city's long- term future, devoting HK$18 billion to a research endowment fund to support high value-added economic activity. There was also a HK$50 billion pledge, on top of the package, for a health-care reform plan officials are due to propose later this year. Mr Tsang said that an ageing population meant health care is Hong Kong's 'greatest challenge to the stability of long-term finances'. While the entire budget package is expected to take the city into the red this year, it would be more than cushioned by healthy fiscal reserves of HK$485 billion. But in a speech lasting more than 90 minutes, Mr Tsang warned that 'a substantial surplus will not occur every year'. He said this year's bonanza was only possible because income from sources like land sales and stamp duty on share purchases was 'far higher than expected' last year, thanks to China's boom. Hong Kong's growth, he added, is expected to slow to 4-5 per cent this year, after expanding 6.3 per cent last year, due partly to global economic uncertainty amid a slowdown in Europe and the US. 'We should be aware of the possibility that the situation might deteriorate in the near future and that the fallout may be prolonged,' he said. He also warned of rising inflation, while stressing the need to invest heavily in education and to attract talent in the face of increasing global competition. And to face such problems, he said Hong Kong must 'continue to study options on broadening its tax base' - a comment widely seen as a reference to a possible goods and services tax. The government is wary of broaching the issue again, after its last attempt was shot down in 2006 by an angry public, amid fears that it would place an unfair burden on the poor. And apparently mindful of such resistance Mr Tsang yesterday stressed that the 'tax reform options' he would like to see discussed would be 'equitable and conform to the 'ability-to-pay' principle'. http://www.straitstimes.com/Free/Sto...ry_211121.html