It's a rare phenomenon around the world that people here associate the Budget Speech with getting hong bao. Giving each Singaporean a million dollars will not make our people happy and only crush our economy, but a sudden increase in the academic results of all our children will certainly give smiles to parents and our children for at least a few years.

Last year, Newsweek magazine ran an article, 'The Joy Of Economics'. It listed the 12 happiest countries in the world and most of these countries have GDP per capita similar to ours.

Most cited a good educational system, strong health-care system, a low crime rate and a high literacy rate. So why are Singaporeans not among the top countries? The Bahamas and Bhutan, both ranked fifth and eighth respectively, had only a GDP per capita of US$20,000 and US$1,400, a low literacy rate and large poverty issues. But a beautiful scenic country, strong family values and strong national identity make their people happy.

With robust economic growth and a large Budget surplus, will the new Budget announcement make us happier? On hindsight, Singaporeans will be happier if the number of cars remained at 370,000 and more revenue could be collected and spent on public transport infrastructure during the past 10 years to alleviate the current crunch on public transport. With 515,000 vehicles now and less revenue collected, every road user is fuming because traffic jams affect everyone.

Budget policies should not only focus on economic strengths but also the intangible needs of Singaporeans.

Syu Ying Kwok