ANNUAL BUDGET STATEMENT

3.50pm

The Minister for Finance (Dr Hu Tsu Tau): Mr Speaker, Sir, I beg to move,

That Parliament approves the financial policy of the Government for the financial year 1st April, 1986 to 31st March, 1987.

My Budget Statement this year will be somewhat different from those of previous years. For one, it has been more than a decade since a budget has had to be presented to deal with a severe recession. For another, it will be shorter. This is because, unlike in previous years, Parliament has already debated at great length on the state of the Singapore economy and the recommendations of the Economic Committee.

I, therefore, propose only to highlight the salient points of the Economic Committee's Report and elaborate on the measures which the Government intends to take in the next financial year to help us pull through the present economic recession.