Two big parts to the Budget payout

In a commentary on the Singapore Budget payout for this year, SMU School of Economics Associate Dean (Faculty Research) and Professor of Economics Hoon Hian Teck said that education remains a major target sector of Budget expenses over the years. He noted that a highly educated workforce plays an important role in Singapore's economic growth, as it attracts multinational companies to invest in Singapore. SMU Associate Professor of Law Eugene Tan also noted that expenses incurred for social development are a form of investment, as they set the foundation for increased productivity in the workforce. However, the Government should also constantly review ways to increase the effectiveness of such expenses, so as to build the resilience and independence ofSingapore’s society.