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EC4352: Singapore Economy: Practice and Policy Part I: Growing Incomes for All Singaporeans In Budget 2011, the Minister of Finance, Mr. Tharman Shanmugaratnam articulated the government’s long-term goal of growing incomes for all Singaporeans, including those at the lower end of the income ladder. The aim is “to raise incomes by 30% in real terms over this decade.” Real income growth measures the improvement of consumption and standards of living. (MOF, Budget Statement 2011, p.9) Following the Budget announceme
EC4352: Singapore Economy: Practice and Policy Part I: Growing Incomes for All Singaporeans In Budget 2011, the Minister of Finance, Mr. Tharman Shanmugaratnam articulated…