ANNEX E: Budget Position

SPECIAL TRANSFERS¶ 7.40 6.15 (1.26) (17.0) Special Transfers Excluding Top-ups to Endowment and Trust Funds 4.39 4.74 Jobs Credit Scheme 1.13 3.38...

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ANNEX E: Budget Position

OPERATING REVENUE Corporate Income Tax Personal Income Tax Statutory Boards’ Contributions Assets Taxes Customs and Excise Tax Goods and Services Tax Motor Vehicle Related Taxes Vehicle Quota Premiums Betting Tax Stamp Duty Other Taxes Other Fees and Charges Others

Revised FY2008 $billion 40.50 10.10 6.22 2.14 2.84 1.99 6.57 2.05 0.38 1.81 1.45 2.80 2.02 0.13

Estimated [email protected] $billion 33.43 8.21 6.06 0.31 1.03 2.00 6.56 1.59 0.32 1.86 0.99 2.37 2.02 0.11

38.90 29.25 9.65

43.62 32.16 11.46

1.60

(10.20)

7.40

6.15

4.39 1.13 1.06 0.92 0.25 0.03 0.20 0.06 0.23 0.49 0.01 0.02 -

4.74 3.38 0.39 0.46 0.12 0.10 0.12 0.07 0.00 0.03 0.02 0.05

(2.80)

(14.94)

3.01 0.20 0.20 0.40 0.80 0.80 0.35 0.26

1.41 0.10 0.10 0.10 0.40 0.45 0.26

3.65

7.67

(2.15)

(8.67)

Change over Revised FY2008 $billion % (17.5) (7.07) (1.90) (18.8) (0.16) (2.6) (1.83) (85.5) (1.81) (63.7) 0.01 0.7 (0.01) (0.2) (0.45) (22.1) (0.06) (15.8) 0.05 2.8 (0.46) (31.8) (0.44) (15.6) 0.00 0.2 (0.01) (11.2)

Less: TOTAL EXPENDITURE Operating Expenditure Development Expenditure PRIMARY SURPLUS/(DEFICIT)* Less: SPECIAL TRANSFERS¶ Special Transfers Excluding Top-ups to Endowment and Trust Funds Jobs Credit Scheme Special Risk-Sharing Initiative (SRI)δ Growth Dividends GST Credits Senior Citizens’ Bonus Workfare Income Supplement Scheme Special Payment U-Save Scheme S&CC and Rental Rebate Top-Up to CPF Medisave Accounts Top-ups to Post-Secondary Education Account Other measures for Elderly and Lower Income# Assistance to Small and Medium Enterprises (SMEs) R&D Incentive for Start-up Enterprises (RISE) BASIC SURPLUS/(DEFICIT)^ Top-ups to Endowment and Trust Funds Top-up to ComCare Fund Top-up to Medifund Top-up to ElderCare Fund Top-up to Lifelong Learning Fund National Research Fund Top-Up to CPF Voluntary Deferment and Deferment Bonus Trust LIFElong Income (LIFE) Bonus Add: NET INVESTMENT INCOME/RETURNS CONTRIBUTIONΩ OVERALL BUDGET SURPLUS/(DEFICIT)

4.72 2.91 1.81

12.1 9.9 18.8

(1.26)

(17.0)

4.02

110.0

Note: Due to rounding, figures may not add up. @

Incorporating measures announced in FY2008 Budget Statement. Surplus/(Deficit) before Special Transfers and Net Investment Income/Returns Contribution. Special Transfers include Top-ups to Endowment Funds and Trust Funds. δ This includes the new Bridging Loan Programme, Trade Credit Insurance Programme, and Loan-Insurance Scheme-Plus. # Consist of Senior Pensioners Grant Scheme, public transport vouchers and assistance through Citizens’ Consultative Committees (CCCs), SelfHelp Groups (SHGs) and Voluntary Welfare Organisations (VWOs). ^ Surplus/(Deficit) before Top-Ups to Endowment and Trust Funds and Net Investment Income/Returns Contribution. Ω On 1st January 2009, revisions to the Constitution - to allow the Government to spend up to 50% of the expected long-term real returns on reserves invested by GIC and MAS - came into effect. On the remaining reserves, the existing NII framework applies. Effective from FY2009, the NIRC will reflect the total amount of investment returns that is taken into the Budget for spending. * ¶

MINISTRY OF FINANCE