Singapore Budget 2016: Give greater priority to social safety nets: academics, economist

Singapore

THE government should make it an even greater priority to improve Singapore's social support system during this uncertain economic period, say observers ahead of the upcoming Budget that will be delivered in Parliament on March 24.

Walter Theseira, an economist and senior lecturer at SIM University (UniSIM), told The Business Times in a recent interview that the role of social safety nets becomes more important during a downturn.

He explained that they serve as a means for Singaporeans to continue to provide for their families should they lose their jobs or see their income reduced at a time when many firms are slashing costs.

The transfers provided through the social safety nets also act as automatic stabilisers to keep consumption go…