A much-needed cushion to help businesses and society

IT'S as simple as ABC really. In his maiden Budget speech, Finance Minister Heng Swee Keat painted a tapestry of collective partnership to strengthen our enterprises, nurture innovative industries and build a caring society in Singapore. Recognising that business conditions are difficult and uncertain, there clearly was a need to extend near-term help but without losing sight of the medium-term strategies.

While the economic backdrop remains challenging, he stressed there was no need to be overly pessimistic. Even as major economies are continuing to restructure, the Singapore economy still sees pockets of growth and resilience within a soft 1-3 per cent growth forecast for 2016. Examples include the local fo…