HEAD Z - FINANCIAL TRANSFERS

Sitting resumed at 3.20 pm

[Mr Speaker in the Chair]:

[Mr Speaker in the Chair]: Debate in Committee of Supply resumed.

[Mr Speaker in the Chair]

Head Z – Financial Transfers

The Chairman: Head Z - Financial Transfers. Mr Tharman.

Special Transfers

The Second Minister for Finance (Mr Tharman Shanmugaratnam): Sir, I beg to move,

That the total sum to be allocated for Head Z of the Estimates be increased by $2,058,498,000.

The increase is for the Special Transfers announced in the Budget Statement on 15th February 2007. Of the increase of $2.06 billion, a sum of about $1.06 billion will be spent on the GST offset package, $530 million for GST credits, $220 million for rebates, utilities, service and conservancy charges and rentals to eligible households, $200 million for top-ups to Post-Secondary Education Accounts, $102 million for bonuses to senior citizens and $6 million for other social assistance measures through the public transport fund, Citizens Consultative Committees, voluntary welfare organisations and self-help groups. A sum of $200 million will go to funding the Workfare Income Supplement scheme in Fiscal Year 2007. The balance goes to transfers to the National Research Fund, $500 million; Medical Endowment Fund, $200 million; and Lifelong Learning Endowment Fund, $100 million.

That the total sum to be allocated to Head Z of the Estimates be increased by 2,058,498,000.

That the increased sum of $4,821,400,000 for Head Z ordered to stand part of the Main Estimates.