Budget 2014: Explained through the medium of cute

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so…

 …we have an overall surplus of $3 900 000 000…

 

…that’s an awful lot of ‘0’s…

 

WHAT DOES IT MEAN?

(Does it have something to so with Singapore’s rising cost of living?!)

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Here’s what we stand to benefit from Budget 2014!

 

  • Kindergarten financial schemes are extended to mid-income groups.
  • Families earning less than $3000/month will pay $3/month, lower than the previous $75/month!
  • Families earning less than $4800/month will pay $85/month in kindgarten fees, lower than the previous $130/month!
  • The requirement for per capita with household income threshold for application of bursaries for institutes of higher learning is raised to $1900.
  • Bursaries for university students from low-income families and mid-income families are increased to $3600/year and $2600/year respectively.
  • Increase in CPF contributions for workers 50 and above.
  • Annual medisave topups of at least $200 for people aged 65 and above.
  • MediShield life subsidies of at least 40% for those aged 65 and above.
  • Parent relief and and handicapped parent relief increased by $3000!
  • Decreased outpatient care costs and enhanced benefits under CHAS.
  • Additional 50% off subsidized bills @ specialist outpatient clinics and polyclinics
  • Disability assistance (real money!) of $1200/year.
  • Foreign worker levies are to be increased to $700. (ok, not so awesome for employers)
  • Loans from the micro-loan program for young SMEs are to be increased to 70%!
  • Sharing of parent relief is now allowed.
  • Subsidies of up to 80% will be available for those who require dedicated transport services to access special education and care services!

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…and more!!

 

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THE PIONEER GENERATION

  • All members receive benefits for the rest of their lives, regardless of income.
  • Members will not be differentiated by income.
  • Members aged 80 and above in 2014 will have their premiums covered through premium subsidies and MediSave toppings. Elderly Singaporeans can also use a portion of their MediSave more flexibly.
  • MediShield Life will cover all members including those with pre-existing conditions.
  • Members with moderate/severe disabilities or their nominated caregivers will receive cash assistance of $2000/year.
  • Members not on CHAS now qualify and those already on CHAS get more benefits!

 

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…for most of us anyway :P

 

 

This article has been contributed by Kornelius Wang (Heian Edenwood)

This author has a passion for all things relating to gardening, art, writing and music. He has a mild obsession over fluffy animals as well. It is said that when the full moon appears, said author stares off blankly in space.

 

 

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