Updated: 02/22/2014 06:35

DPM and Finance Minister Tharman delivers Budget 2014

DPM and Finance Minister Tharman delivers Budget 2014

Deputy Prime Minister and Finance Minister Tharman Shanmugratnam has delivered a budget aimed at achieving quality growth and building a fair and equitable society. 

To transform the economy, support will be extended and deepened for businesses to invest in productivity, innovation and skills upgrading so that they can sustain and step up their restructuring efforts. 

There's also a stronger push for the piloting and scaling up of ICT solutions to transform entire sectors. 

Support will also be given to companies in their internationalisation efforts. 

And in construction, there'll be measures to help raise productivity. 

Several initiatives were also announced to help low income families and give financial security for the elderly and Singaporeans. 

A centrepiece is the nine billion dollar Pioneer Generation Package which will benefit some 450,000 pioneers aged 65 and above. 

The government is also enhancing subsidies to ensure healthcare affordability for the the lower and middle-income groups. 

Education subsidies will also be boosted. 

And CPF contribution rates for older workers will also go up to ensure their healthcare and retirement savings.

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