8 Fun Facts About the National Budget

 

– Budget always sits on a Monday each year

– The first Budget statement was on the 13th of December 1965 by Lim Kim San
(And yes, it was a Monday)

 

– Inability to pass the Budget can equal a vote of no confidence
That’s how serious a session of Budget is.

 

– In Singapore, the Budget is planned 7 years in advance
A bit kiasu perhaps…but that’s not a bad thing.

 

– Income tax makes up only 14% of government income


– GIC + Temasek contributes 8b each year, equal to GST collections
It’s called the Net Investment Returns Contribution

 

– When an MP files a “cut”, it literally means to cut the Ministry’s budget. This is usually a symbolic cut of $1


– A government can grind to a halt if Budget cannot be approved

 

 

 

Source: http://www.singaporebudget.gov.sg/data/budget_2016/download/FY2016_Analysis_of_Revenue_and_Expenditure.pdf

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madmonk

I am a satirical writer. I offend. And I urge you not to take me too seriously.

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