'We have the resources to do this and we have the resilience to see ourselves through,' said PM Lee (left). -- ST PHOTO: EDWIN KOO
THE Government is preparing measures to help businesses, families and workers tide over the dowturn, Prime Minister Lee Hsien Loong said on Tuesday.
The aim is to help businesses reduce costs and to lighten the burden for household, especially the low-income, he added.
However, the situation is still fluid now, he indicated.
'By Budget next year, in February, the situation will be clearer and then we can decide what we will do,' he told Parliament on Tuesday.
However, PM Lee is confident that the Singapore economy is able to deal with the fallout brought on by the global financial turmoil.
He said: 'We have the resources to do this and we have the resilience to see ourselves through.'
Mr Lee gave the House the assurance when he was expressing support for the amendments to the Constitution.
Parliament later approved the changes, with all elected 75 MPs present giving it the nod, including the two opposition MPs -- Mr Low Thia Khiang and Mr Chiam See Tong..
The changes allow the Government to draw on more returns from investing the reserves, so that its income can keep pace with rising expenditure in the near future.
Over two days, 19 MPs, including Mr Lee, spoke on the amendments.
