RESOURCEGUIDEFORTHESINGAPOREBUDGET

Introduction
The annual Singapore Budget is a unique source of primary information on government finances and initiatives. For example, the projected revenue sources and proposed expenditures of the Singapore government in the coming financial year (FY) can be accessed throughtheBudget.Viathespending,itispossibletounderstandmoreofsocietysproblems andconcernsatthepointintime.Inaddition,theexpenditureandrevenueforthepreviousFY canbereviewedtoanalysetheproposedandactualspending.TheBudgetisannouncedbefore anewFY,whichbeginson1stAprilandendson31stMarchofthefollowingcalendaryear.

Scopeandobjectives
TheBudgetisatechnicaldocumentwhichcanbedifficulttointerpret.Thegoalofthisguideis to introduce the reader to the various sections of the Budget document, such as the Budget statement,BudgetHighlightsandExpenditureEstimates.Ashortdescriptionofeachsectionis provided,alongwithanintroductiontosecondarysourcestoaidthereaderininterpretingthe primarymaterial. Another objective is to aid the researcher who wishes to research on historical Budget information. Researching on historical budgets can be difficult as the names of the Budget document have changed over time. In addition the older Budget documents before 1996 are only available in print format. This guide therefore includes tables containing the publication historyofasectionoftheBudgetwhereappropriate. TofurtherexplainBudgetterminology,aglossaryhasalsobeencreatedinAppendixII.Please inform theauthor at hytan@ntu.edu.sg if a broken link isfound, or if you will like to make a suggestionregardingtheguide.

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SingaporeBudgetWebsite
TheSingaporeBudgetWebsitecontainsonlinedatafortheannualBudgetsfrom1996tothe present at this link. Information on the budgets of 1982 to 1999 can be found in the Budget statementperiodicalavailableinhardcopyformatintheNTUBusinessLibraryandtheclosed stacks,whichcanberequestedattheLoanCounter.

BudgetStatement(Primarysource)
Publicationcontents The Budget Statement contains the entire Budget speech given by the Minister of Finance. Occasionally it also includes questions raised in Parliament regarding the Budget. The Budget StatementandthecorrespondingBudgetanalysispublicationsareusefulforunderstandingthe proposed government expenditure. From there the societal problems and concerns can be extrapolated if they are not explicitly mentioned in the speech. For example, a drop in corporatetaxmayindicateincreasingcompetitionpressuretoattractbusinessestoSingapore atthatpointintime. Forinformationonbudgetsbefore1982,youwillneedtorefertotheBudgetspeechestable. PleasenotethattheBudgetStatementdoesnotcontainadetailedbreakdownoftheproposed governmentexpenditure.Toobtainsuchfigures,itwillbenecessarytorefertotheExpenditure Estimatespublication. Publicationhistory Publicationname Daterange Availableat BudgetStatement 1982topresent NLBandNTU Softcopies of budget statements 1996 and after are available at theMOFwebsite. Budgetspeeches Budgetspeechtitle Year Available Deliveredby at Towards higher achievement: budget speech 1981 NLB,NUS GohChokTong 1981 Wemustdaretoachieve:budgetspeech1980 1980 NLB,NUS GohChokTong Forward with cautious confidence: budget 1979 NLB,NUS Goh Chok Tong/Hon
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Budgetspeechtitle

Year

Available at

Deliveredby

speech1979 SuiSen Focus on achievement and growth : text of 1978 NLB,NUS HonSuiSen budgetspeech,Feb.27,1978 Singapore: year of economic recovery: text of 1977 NLB,NUS HonSuiSen budgetspeech 1976 budget statement [with] economic survey 1976 NUS HonSuiSen ofSingapore,1974 Budgetstatement1975 1975 NLB,NUS HonSuiSen [1974]annualbudgetstatement[with]Economic 1974 NUS HonSuiSen surveyofSingaporein1973. Annual budget statement with survey of the 1973 NUS HonSuiSen economicscene Economicpatternintheseventies 1972 NLB,NUS HonSuiSen BudgetspeechoftheMinisterforFinanceatthe 1968 NLB,NUS GohKengSwee sittingofParliamentonTuesday,3rdDecember, 1968 Budget statement by the Minister for Finance, 1966 NLB,NUS LimKimSan Mr.LimKimSan,inParliamenton5thDecember, 1966. Thisishowyourmoneyisspent 1960 NLB,NUS GohKengSwee Expenditureestimates(Primarysource) Thetablebelowliststhevariousnamesgiventothepublicationorsectionofpublicationwhich recordstheproposedgovernmentexpenditureineachnewFY.Itisimportanttonotethatthe figuresandtablesprovidedaretentative.ForexampletheExpenditureestimatesdocumentfor FY2010willdetailproposedexpendituresfortheFYahead.Ifyouareinterestedtoobtainthe actualexpenditureforFY2010,youwillhavetorefertothefollowingyearsbudget.Therefore toobtaintheactualexpenditureforFY2010youwillneedtorefertotheFY2011Budget. Note that revenue estimates are also available from 2007 and after. The Revenue estimates shows the sources of government revenue such as taxes and investments. For more informationonthecontentsoftheRevenueestimates,pleaserefertoAppendixI. Publicationcontents This publication consists mostly of tables detailing expected expenditure by various governmentbodiessuchasministries.Otherinformationincludesapprovedstaffheadcounts. Thisdocumentisbestusedbyresearchersinterestedinobtainingactualexpenditureestimates ofgovernmentbodies,duetothehighlytechnicalnatureofthisdocument.
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Expenditure is generally divided into two sections, namely Operating expenditure and development expenditure. Operating expenditure refers to the costs of running various government bodies such as staff salaries, or government building utility bills. Development expenditure includes costs for infrastructural development, such as road building or sport facilitiesconstruction. Publicationhistory Publicationname Expenditureestimates

Daterange 2005topresent

TheBudgetforthefinancialyear 19782004 Main and development estimates for 19741978 thefinancialyear Developmentestimates 19551973

Availableat MinistryofFinancewebsite NLB NLB,NUS,NTU NUS,NLB NUS,NLB

BudgetHighlights
TheBudgetissplitintomanysectionswhichmaybeofinteresttodifferentusers.TheBudget Highlightssectioncontainsprimarystatisticaldataforstudy.Therearealsofeaturearticlesto explainvariousgovernmentinitiatives/policiesinthefinancialyear(FY).Forexamplearisein governmentrevenuefromstampdutiesmaybeexplainedorfurtherelaboratedoninthetext. ThusitisoftenusefultoscanforinterestingfeaturearticlesintheBudgetHighlightsorother sections. The Budget Highlights also contains updated figures on the actual spending in the previousfinancialyear. BudgetHighlightscontents: No. Statistical series 1 Notes

Fiscal position Containsthefollowingdatafortheprevious2years for previous 2 - Operatingrevenuefigures years Operatingexpenditurefigures,

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No. Statistical series

Notes

Developmentexpenditure figures Specialtransferfiguresanddetails Endowmentandtrustfundstopups Investmentincomefigures Overallbudgetsurplus/deficitfigures

Aspikeingovernmentrevenuefromaparticularsourcemaybeworth researching.Forexampleasharpriseinstampdutiesmayindicatean increaseinpropertytransactions/prices 2 Current budget FY ContainsthefollowingfiguresforthecurrentFY AllfiguresforthecurrentFYareestimatedandsubjecttorevision. 3 Historicalfiscal Containshistorical figuresfor position - Operatingrevenuefigures overview Operatingrevenuefigures Operatingexpenditurefigures Developmentexpenditurefigures Specialtransfersfiguresanddetails Endowmentandtrustfundtopups Investmentincomefigures Overallbudgetsurplus/deficitfigures

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No. Statistical series

Notes

Operatingexpenditurefigures Developmentexpenditurefigures Specialtransferfiguresanddetails Endowmentandtrustfundtopupfigures Investmentincomefigures(maybeabbreviatedasNII/NIR) Overallbudgetsurplus/deficitfigures

Adetailedbreakdownforhistoricalspecialtransferitemsispresentin thistable. 4 Revenue collection table ThebreakdownoftheOperatingRevenuesourcesis: Corporateincometax Personalincometax Withholdingtax Statutoryboardcontributions Assetstaxes Customsandexcisetaxes Goodsandservicestax Motorvehiclestaxes Vehiclequotapremiums

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No. Statistical series

Notes

Bettingtaxes, Othertaxes 1 Otherfeesandcharges Othersources

Revenuesourcesmaydifferslightlyacrosstime.Forexampledataon revenuefromcasinotaxeswillnotbeavailableuntilpost2010. DataisavailableinmillionsofSingaporedollars. Dataisalsoavailableasa%ofGDP. 5 Operating Figuresareavailablefor expenditureby Socialdevelopment sector Securityandexternalrelations Defence Education NationalDevelopment Health EnvironmentandWaterResources CommunityDevelopment,YouthandSports Information,CommunicationandtheArts

Other taxes primarily compose the foreign worker levy and aircraft passenger service charge.

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No. Statistical series

Notes

HomeAffairs ForeignAffairs

EconomicDevelopment GovernmentAdministration DataispresentedbymillionsofSingaporedollars. 6 Development DataisavailableasforOperatingExpenditurefigures expenditureby sector Developmentexpendituredoesnotincludelandrelatedexpenses. 7. Total DataisavailableasforOperatingExpenditurefigures. expenditureby sector DataisavailableinmillionsofSingaporedollars. Finance Law OrgansofState PrimeMinistersOffice(PMO) Transport TradeandIndustry Manpower InfocommunicationsandMediaDevelopment

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No. Statistical series

Notes

Dataisalsoavailableasa%ofGDP. Developmentexpendituredoesnotincludelandrelatedexpenses. 8. Total Dataisavailableforthefollowingtypesofexpenses: expenditureby expenditure type OperatingExpenditure Transfers DevelopmentExpenditure DataisavailableinmillionsofSingaporedollars. 9. Headcount by Figuresfor2008andafterindicatethebudgetedmanpowerandnot Ministry theactualmanpowerfigures.Forexampleaministrymaybeallowed tohaveaheadcountof50individualsbutnotall50positionsmaybe filled. Directdevelopment Capitalgrant Capitalinjections Socialtransfers Subventions Expenditureonmanpower Operatinggrant Otheroperatingexpenditures Capitalinjections

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No. Statistical series

Notes

Figuresfor2007andbeforeareactualmanpowerfigures. Data is available for manpower numbers for the following governmentinstitutions. Civillist AttorneyGeneralsChambers AuditorGeneralsOffice CabinetOffice Judicature Parliament PresidentialCouncils PublicServiceCommission CommunityDevelopment,YouthandSports Defence Education EnvironmentandWaterResources Finance ForeignAffairs Health HomeAffairs Information,CommunicationandtheArts

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No. Statistical series

Notes

Law Manpower NationalDevelopment PrimeMinistersOffice TradeandIndustry Transport

ParliamentReports
Parliament reports may be a useful source of additional information as Budget matters are often raised and debated there. Parliament Reports after the 2nd of November 2006 can be accessedviatheSingaporeHansard.ItispossibletolimityoursearchforspecificReportsbased on minister or issue debated. This is source is recommended for researchers searching for additionalmaterialonaproposedexpenditure,suchasWorkfare. Budgetanalysispublications(Secondarysource) Anumberofprivatefirmspublishbudgetcommentarieswhichmayaidyourunderstandingof thebudgetmeasuresandwhattheyareintendedtofacilitateoraccomplish.TheBudgetisa very long and technical document. Is it therefore recommended to refer to these budget commentariestogainabetterunderstandingoftheBudgetmeasuresimplemented,andtheir background.Someofthemoreprominentfirmswhichpublishsuchbudgetcommentariesare: No. 1 2 Firm Ernst&Young Pricewaterhouse Coopers Publicationname Singaporebudgetsynopsis Singaporebudgetcommentary

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Databases(Secondarysource) Certain databases contain consolidated time series data on the Singapore economy. An exampleofsuchadatabaseisCEIC.Howeverintheeventofanyconflictindata,theBudget should be viewed as the authoritative source. This is as the CEIC is considered a secondary source.

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AppendixI
Governmentrevenuesources
The table below lists the various government revenue sources, from taxes, stamp duties and investments.Theresearchermayfinditusefultorefertothisdocument,todeterminewhich are the main sources of government revenue. Alternatively a spike in revenue from a source mayindicateanunusualeventinthepastyear.Forexamplearelativelylowrevenuefromthe GoodsandServicesTax(B50)mayindicateaslowdownintheeconomy. Account code B00 B10 Revenuesource Notes

Totaltaxrevenue Incometax

TotalofB10B113 Assessed based on individual previousyearsincome

B11 B111 B112 B113

Corporateandpersonaltax CorporateIncometax PersonalIncometax Withholdingtax Not presented separately until 2008

B12 B120 B20 B21 Statutoryboardcontributions Statutoryboardcontributions Assetstaxes Propertytax Totalof B21B219 Assessed on transactions current year Nofurtherbreakdownavailable

B211

Privateproperties

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Account code B212 B219 B22 B221 B30 B31 B311 B312 B313 B314 B318 B32 B323 B329 B40 B401 B402 B403 B404

Revenuesource

Notes

Statutoryboards Otherproperties

Estateduty Estateduty Customsandexcisetaxes Exciseduties Petroleumproducts Tobacco Liquors Motorvehicles Otherexciseduty Customsduties Liquors Othercustomsduties TotalofB323B329 TotalofB31B329 TotalofB311B318 Nofurtherbreakdownavailable

Motorvehicletaxes Additionalregistrationfees Roadtax Specialtaxonheavyoilengines Nonmotorvehiclelicenses

TotalofB401B406

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Account code B405 B406 B50 B60 B601 B602 B70 B701 B80 B802 B90 C00 C10 C11 C12

Revenuesource

Notes

Passengervehicleseatingfees Conversionpremium

Goodsandservicestax

Bettingtaxes Bettingandsweepstakeduties Privatelotteryduties

TotalofB601andB602

Stampduty Stampduty Nofurtherbreakdownavailable

Selectiveconsumptiontaxes Waterconservationtax

Othertaxes

Nodetailsavailable

Feesandcharges

Nodetailsavailable

Licenseandpermits Environment Homeaffairs

TotalofC11C19

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Account code C13 C14 C15 C16 C17 C19 C20 C21 C22 C23 C25 C27 C28 C29 C30 C32 C33 C34 C39

Revenuesource

Notes

Housingandproperties Medicalandhealth Commerce Transportandcommunication Customsandexcise Others

Servicesfees Admissioncharges Environmentalfees FireandPoliceServicesfees Inspectionandcertificationfees Professionalservicesfees Schoolsandinstitutionsfees Others

TotalofC21C29

Salesofgoods Publications Commercialgoods Searchandsupplyofinformation Storesandothergoods

TotalofC32C39

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Account code C40 C41 C42 C43 C44 C49 C50 C51 C52 C53 C59 C60 C61 C62 C63 C69 C90 J00

Revenuesource

Notes

Rental Residentialproperties LocalandOverseasquarters Premisesforbusinesses Schoolpremises Otherpremises

TotalofC41C49

Finesandforfeitures Courtfinesandforfeitures Trafficfines Compositionfinesandpenalties Otherfinesandpenalties

TotalofC51C59

Reimbursements Recoverofcosts/expenses Reimbursementforservices Secondment/loanofstaff Others

TotalofC61C69

Otherfeesandcharges

Nofurtherdetailsavailable

Others

Nofurtherdetailsavailable

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Account code L00 L10 L11 L13 L20 L40 M00 M10 M20 M30

Revenuesource

Notes

Investmentandinterestincome Interest Interestoninvestments Interestonbankaccounts

TotalofL10L13

Dividends

Nofurtherdetailsavailable

Interestonloans

Nofurtherdetailsavailable

Capitalreceipts Salesofland Salesofcapitalgoods Othercapitalreceipts

TotalofM10M30

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AppendixII
Terminology
ThereareanumberoftechnicaltermsrecurrentlyusedintheBudgetstatementwhichmaybe unfamiliartothegeneralreader.Itisimportanttogainanunderstandingofsomeoftheterms tofacilitatebetterunderstandingofthebudgetdetails.Thusitisrecommendedtorefertothe glossary section at the end of the Budget Highlights statement which explains some of these terms.Forconvenience,sometermsintheglossaryareprovidedbelow. Term FinancialYear SpecialTransfers Explanation ThefinancialyearinSingaporespansfrom1stAprilto31stMarch. Special transfers are one off government initiatives to distribute funds to the public. Examples are New Singapore Shares, Growth DividendsandtheGSTOffsetPackage. Government Endowment This refers to 5 funds (Lifelong learning fund, Eldercare fund, Fund Medifund,EdusavefundandfinallytheComcarefund)established withthesupportofthegovernment.Theincomefromthefundis usedtopayforspecificprogrammes. DevelopmentExpenditure This refers to government spending which is expected to have futurecapitalgains.Examplesincludeconstructionofbuildingsand infrastructure.Thiscanbelikenedtoinvestmentcosts. OperationalExpenditure This refers to government spending for the running of regular government activities and services. An example is staff pay, or utilitybillsforgovernmentbuildings. Totalexpenditure This is the sum of the development and operational expenditure.

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Term

Explanation Note that this sum does not include any special transfers in the financialyear,unlessspecificallymentioned.

Customsduty

ThisreferstoataxoncertaingoodsimportedintoSingapore.

Stampduty

Thisisataximposedonproperty,stocksandshares.

Excisetax

This is a tax which is imposed on certain goods regardless of whether it was manufactured locally or imported. Examples includetobacco,motorvehiclesandpetroleum.

CivilList

ThisisalistofindividualswhichaidthePresidentofSingaporein performing his official duties. A composition of the Civil List for 2008to2010canbeviewedatthislink.

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