Singapore Public Policy

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					Singapore Public Policy
                         A Brief History

• Singapore is a small island city state with a
  total land area of 640 square kilometers and
  a population of three million
• It was founded as a British trading post in
  1819 and remained a British colony until
• Opted for self-government. People's Action
  Party which was elected in 1959 has been
  returned at every election since.
                        History Cont’d

• Singapore joined the then newly formed
  Federation of Malaysia in 1963 but
  withdrew in 1965 when it became an
  independent republic.
• At the time of its independence, the
  Singapore government was confronted with
  a host of political and economic problems
  soon compounded by the closure of British
  military bases in Singapore.
     Light at the End of the Tunnel

• Three decades later, Singapore has become
  a model for economic development. It has
  enjoyed growth rates in GNP per capita
  which averaged 7 percent annually and per
  capita income is presently in excess of
  US$20,000 (The World Bank, 1995). There
  is virtually no unemployment and
  approximately one fifth of the labor force is
  comprised of foreigners. The national
         The New Economic Policy

• In 1985, Singapore's economy received its
  first setback since the country's
  independence with a negative growth rate of
• The government executed the New
  Economic Policy in 1986. 2-year wage
  freeze and a reduction of public utilities
  charges,corporate tax, income tax, and
  central provident funds
                      Public Transport

• Since August 1990, land-scarce Singapore
  has held monthly public auctions to allocate
  Certificates of Entitlement (COE)
• Investment in a comprehensive public
  transportation system.
• Nearly 40% of the local population depends
  on public transport
                             Land Values

• Nationalization of land
• A flat rate of 12 percent on the estimated
  annual rental value of property applies
• The Planning Act is the statutory basis for
  controlling private sector development.
• 99 year lease
                         Public Housing

• Source of great pride in Singapore
• either rented at will or acquired through a
  99 year lease
• Central Provident Fund (CPF)
• Since 1989 Housing and Development
  Board relaxed regulations
• Policy aim is to cushion impact of rising
  prices and cost
    Attracting Foreign Investment

• tax exemption, tax deduction, and tax
  concessions which have been introduced as
  part of Singapore's industrial policy to
  attract selected types of direct foreign
• Economic Development Board
• Protection against piracy
• The Urban Redevelopment Authority
                Government Spending

• Singapore its social security policy is based
  on individual or family responsibility, with
  the state's financing role being largely
  limited to deductions and exemptions from
  the income tax for the retirement provision
• Mandatory unemployment benefits do not
  exist in Singapore and public assistance is
  offered only to those in social distress
• Public housing allows for mobility
                    Defense Initiatives

• Singapore's defence sector is dominated by
  the state-owned Singapore Technologies
• S$10 billion (US$7 billion) and a turnover
  of about S$4.6 billion.

• Singapore's aim to minimise overseas
  dependency is a basic concern

• Develop an internationally linked e-
  commerce infrastructure
• Jump-start Singapore as an e-commerce hub
• Encourage businesses to use e-commerce
• Promote use of e-commerce by the public
  and businesses
  June 1998