…it’s Singapore’s 2010 budget!
Some selected highlights, courtesy of Pravda’s Twitter feed:
- A deficit of $7.2bn, 2.6% of GDP (boo-ring. I hear a foghorn. Boo-ring);
- $1.4 billion in cash splashes – whoops, typo, meant to say “direct transfers for households”;
- Wives who are taxpayers can claim “spouse relief” of $2000 (in other news, Deng Xiaoping was wrong: in Singapore, to get married is glorious);
- Tiered property taxes – from 0% at the bottom to 6% for the most expensive private houses;
- “Govt to commit $100 million over five years to scale up support for business associations to drive productivity at the industry level”… uh, what?;
- And apparently there’s a 250% tax deduction for donations to “Institutions of a Public Character”, whatever those are. (Interestingly, donations to charities in Singapore aren’t tax deductible – only donations to IPCs are deductible, and there are stiff criteria for the upgrade from “charity” to “IPC”.)