Singapore bonuses to citizens after surplus budget, bridges gap between rich and poor

Several reports indicate that city-state’s finance minister of Singapore, announced that citizens aged 21 and above will get a one-off “SG Bonus” of up to S$300 each as the 2017 budget came in with a surplus of almost S$10 billion (US $7.6 billion).

Those with an income of S$28,000 or below will be eligible to receive S$300, those whose incomes ranging from S$28,001 to S$100,000 will receive S$200, and those with incomes in excess of S$100,000 will receive S$100. What does that sound like? Equity. What makes this move by Singapore more appreciable is the fact lower income earners get more of this surplus than higher income earners. Singapore must not only be commended for its ability to make tremendous savings, but its effort to lower the poverty line should be recognized as well. The disbursement is not equal, but it's fair. It could have been argued that all citizens had the right to earn equal amounts, perhaps the elite group pay more taxes. 

The “SG Bonus” will cost the government S$700 million (US $533 million).

The bonus will be paid according to people’s assessable income. About 2.7 million people will get the payouts, which are due by the end of 2018.