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Finance

This tag is associated with 7 posts

Offer Details And Strategies To Help Financially-Strapped Older Singaporeans

While “the proportion of older Singaporeans who could meet their monthly household expenses and have some money left over increased by about half to 30 per cent from 2009 to 2017” (ST, May 10), the fact that 70.5 per cent of the 4,500 Singaporeans and permanent residents surveyed – aged 60 and above – believe that they have not been able to adequately meet their daily expenses warrants a deeper examination of the extent to which the elderly in the country are actually financially strapped, whether the combination of individual savings or personal income sources with familial and governmental support remains sustainable, and if there are serious systemic issues to be addressed. And if the cited factors for increased financial inadequacy, by the researchers, include the higher costs of living and rising healthcare expenses, for instance, what are the policies or strategies which might help alleviate the financial situation? Continue reading

#SGBudget2018: Better Government Communication Needed To Build Knowledge, Trust

Now that Finance Minister Heng Swee Keat has delivered this year’s Budget, and with the Ministry of Finance (MOF) working to explain the different components of his speech, the brouhaha last month surrounding the MOF’s engagement of young “online micro-influencers” to publicise the Budget appears to be more symptomatic of a deeper malaise: That the government struggles to meaningfully communicate its policies. The communication is a familiar it-is-what-it-is approach, characterised by missed opportunities to explain how policy decisions – when compared against alternatives – were made and to help Singaporeans better understand policymaking, and in the process dispel myths. Continue reading

Drumming Up Youth Interest In #Budget2018? Try These Five Short-Term Strategies

The Ministry of Finance has been criticised for its engagement of “online micro-influencers” to publicise the upcoming Budget. Long-term solutions to the problems of youth lethargy or apathy lie in civic engagement, but with the “micro-influencers” already engaged and with the finance minister due to deliver his Budget speech in a few weeks, five short-term strategies can be considered (potentially for the future too):

1. Reach out to the same “micro-influencers” again, but encourage them to do more beyond the Instagram posts;
2. Don’t overwhelm: Frame the discussion by highlighting key issues;
3. Let young Singaporeans set the agenda, on their economic or financial concerns;
4. Take the first steps towards (the exploration of) participatory budgeting; and
5. Document these exchanges in an interactive fashion. Continue reading

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