OFF-BUDGET MEASURES TO STIMULATE THE ECONOMY

[Mr Speaker in the Chair]

Mr Leong Horn Kee asked the Minister for Finance, in view of the continuing deterioration in the economies of the countries in the region, whether the Singapore economy will also be affected and deteriorate further than expected, and what measures the Government intends to introduce to stimulate the economy.

Dr Tan Boon Wan asked the Minister for Finance if his Ministry has completed the assessment of the impact of the regional economic and financial crisis on the Singapore economy and, if so, what off-Budget measures will be introduced to support the economy.

Mr Tay Beng Chuan asked the Minister for Finance whether it is now imperative for the Government to announce a package of off-Budget measures to restore confidence and arrest the economic downturn.

Dr Lily Neo asked the Minister for Finance whether substantial measures, such as increased and accelerated spending on infrastructure development, will be made by the Government to stimulate the economy at home and, if so, what are the measures.

The Minister for Finance (Dr Richard Hu Tsu Tau): Mr Speaker, Sir, with your permission, I would like to take Question Nos. 1 to 4 together as they are related.

Mr Speaker: Yes.

Dr Richard Hu Tsu Tau: Sir, I will speak on the economic outlook and details of measures to stimulate the economy in the Ministerial Statement later this afternoon.