Balancing business and social priorities

[SINGAPORE] Business groups are busy proffering their wish lists as the upcoming Budget comes into focus.

A pertinent question to ask is whether a gap is developing between business expectations and the government's changing priorities.

Budget wish lists haven't changed very much in tone over the years. While their specifics may differ, the main themes have remained consistent. There are the usual calls to keep Singapore tax competitive, to support investment and innovation, to help local firms go overseas, for special assistance to be given to smaller firms, and amid economic restructuring, help to cope with rising business costs and manpower shortages.

This is very much in line with the Republic's economic imperatives - a small, open economy dependent on global investment and trade flows must continually strive to st…