Updated: 02/26/2013 19:51 | By Channel NewsAsia

Govt’s immediate priority is to solve housing & transport issues: PM Lee

SINGAPORE: Prime Minister Lee Hsien Loong said the government’s immediate priority is to solve the country’s housing and transport issues, while at the same time, Singapore must upgrade its economy through productivity and innovation.

Mr Lee, who shared his thoughts on his Facebook page on the new Budget presented by Finance Minister Tharman Shanmugaratnam on Monday, said Budget 2013 will help businesses cope with much lower foreign worker growth over the next few years.

It also has schemes for every Singaporean to benefit from growth.

For example, the Wage Credit Scheme will serve as an incentive for employers to raise the pay of lower—income workers, as the government will pay 40 per cent of these increases for three years.

Mr Lee pointed out that Budget 2013 will also focus on promoting social mobility, especially through education.

— CNA/ck