The aim is to generate growth and to create employment for Singaporeans, said SM Goh, speaking at the launch of the HDB's Home Improvement Programme (HIP) at Marine Parade GRC.

He told the crowd of around 200 residents that Singapore as a trading nation has been badly affected by the global slump and will face more difficult times next year compared to this year.

But SM Goh also assured them that the Government is doing its best to help.

He said, 'It is still uncertain how bad things will get, but we will do all we can to generate growth, so that there will be jobs and cushion Singaporeans from the worst effects of weak economic growth.

'You can expect next year's budget to be expansionary. In fact, the ministries are doing what they can to keep the economy going.'

Read the full story in Friday's edition of The Straits Times.