A bespoke approach to transformation

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IN his maiden Budget that he presented to Parliament on Thursday, Finance Minister Heng Swee Keat managed to pull off something of a coup. He increased spending by 7.3 per cent, did not introduce any significant new taxes – neither direct nor indirect – and yet produced a projected budget surplus of 0.8 per cent of GDP – this in what is likely to be another slow-growth year.



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