Chinese New Year Message 2009 by PM Lee Hsien Loong

The Year of the Rat ended on a difficult note for Singapore. The global financial problems have precipitated a worldwide recession. The last few months have brought a steady stream of worsening news in the US, Asia and Europe. With all our major markets in decline, our exports are falling sharply. We have had to revise our growth estimate for 2009 down to between -5% and -2%, the worst economic outlook since independence.

The Government has just presented its 2009 Budget, and delivered a “Resilience Package” to help Singaporeans in this difficult period. On top of tax measures and business grants, we have announced two special schemes to tackle the crisis – a “Jobs Credit” to help companies with their wage costs; and a “Special Risk-Sharing Initiative” to help them keep their access to much-needed financing. These measures will help businesses to stay afloat, so that they can continue to provide jobs for Singaporeans. We will also give additional support to households, with more for low and middle income families. Hopefully, with some Government help, Singaporeans can continue to provide for themselves and their families.

To tackle this unprecedented economic crisis, we are for the first time seeking the President’s approval to draw on our reserves. This is a major decision, which the Govern­ment has thought over very carefully. Our reserves are a key asset for Singapore. We have built them up patiently over the years, so that in a critical situation we have the wherewithal to mount a vigorous response. The present crisis is clearly such a moment. By using our reserves for the two special schemes, we are making clear that we intend to respond to the crisis decisively and with all means at our disposal.

We are able to do this unlike most other countries, because we have prudently saved and invested our surpluses over many decades. We must therefore maintain these critical instincts. When things return to normal, we must resume our habit of putting something aside in the reserves whenever we can. Then when we next face a serious crisis, which is bound to happen one day, we can again meet it with confidence.

These Budget measures will mitigate the downturn, but they will not instantly lift the economy from recession. No government package can do that. The recession is a global one, and we must expect to see exports contract, unemployment rise, and growth remain negative for more months, and perhaps for the whole year.

We must brace ourselves for a challenging Year of the Ox. But there is no need to be despondent. Singapore has strengths which will let us outlast this recession. We have the resources, the programmes, and the tenacity to ride the storm. In the Chinese zodiac, the ox symbolises fortitude and hard work. It is not a fast or aggressive animal, but is strong and completely dependable. In the same way, we can see through the year with quiet resolution.

For all that the Government is doing, we must remember the important roles that the community and family play in helping us weather the crisis together.

Community and welfare organisations are expanding their schemes to help more needy Singaporeans. Grassroots organisations are also coming up with new and innovative ways to help residents. In Yio Chu Kang, grassroots leaders regularly organise “Rice Parties” to provide needy residents with rice, rations and NTUC vouchers. Other constituencies provide free hawker meals, or run “Sunday Markets” where unemployed and low-income residents can set up stalls and earn some money for themselves.

The Government will support such community efforts. We are giving voluntary welfare organisations and self-help groups more funding to do more good work. We have also increased tax deductions for charitable donations, to two-and-a-half times the donated amounts. I encourage Singaporeans to continue giving generously to worthy causes in this downturn. With many helping hands, every Singaporean can survive the storm.

The family is our most important life-raft in times of crisis. When we face difficulties, families give us comfort, hope and practical help. In these hard times families must draw closer together, including our extended families.

Singaporeans instinctively understand this. A recent survey by OCBC found that this year the top three Singaporean dreams were starting a family, settling down and buying a home. In contrast, last year’s top three dreams were seeing the world, self-improvement and making money. Amidst uncertainty and turbulence, priorities have shifted from personal wants and ambitions to home, relationships and family.

Indeed, the family unit is the bedrock in all communities, whatever their race or religion. The world may have changed drastically, and Singaporeans may be better educated and more affluent. But the family will always be core to our human instincts and our social fabric. In this festive period, let us remember that Chinese New Year is a time for togetherness. It is the time for families to come together to rejoice in the company of their loved ones and to build lasting memories and bonds.

Even in hard times, we should not neglect the need to bring up a new generation. At the National Day Rally last year, I showed a chart of Singapore’s total fertility rate over the years. If you remember, every time there was a recession, birth rates went down. But I hope this time we can buck the trend and keep the birth rate steady. We have implemented many measures to encourage marriage and help you in supporting and bringing up your children. There is also a lag time in procreation, so with luck your babies will arrive in time to enjoy the upswing. What really matters is the prospects in Asia and in Singa­pore over the next decades, which I believe are still bright despite the current gloom.

Meanwhile, let us be grateful for what we have in Singa­pore – a stable society, a sound economy, and a reputation which draws talent, investment and jobs to our shores. We must continue building on these strengths, so that we will emerge stronger from this crisis, ready to thrive in what will be a very different and more challenging world.

I wish all Singaporeans a Happy Chinese New Year!

总理李显龙2009年新春献词

正当鼠年进入尾声之际，新加坡的经济陷入了困难。全球金融体系的种种问题最终引发了世界性的经济衰退。过去几个月来，来自美国、亚洲和欧洲的坏消息不断，而且一波比一波糟。我国的主要市场全面萎缩，导致出口急剧下跌。我们不得不将2009年的经济增长预测下调到负5%和负2%之间。这是我国自独立以来最糟糕的经济展望。

政府刚发表了2009年 的财政预算案，并推出了振兴配套，以帮助国人应付目前的困难。除了各项税务措施和商业补助之外，我们也宣布了两项特别计划，即雇用补贴计划和特别风险分担 计划。推出雇用补贴的用意，是为了帮助公司减低工资成本，而特别风险分担计划则是让公司获得迫切所需的融资。这些措施将帮助公司维持下去，进而保住国人的 饭碗。我们也将给予家庭额外的帮助。低收入和中等收入家庭将获得更多的援助。希望政府的这些援助，能帮助国人在接下来的日子里，维持自己和家人的生计。

为 了应付这次前所未见的经济危机，我们首次征求纳丹总统同意批准动用国家储备金。这是一项重大的决定。政府是经过深思熟虑之后才这么做的。储备金是新加坡的 重要资产，更是政府多年来一点一滴累积起来的财富，为的就是在发生紧急状况时，能推出强而有力的应对措施。眼前的危机显然是个紧急情况。我们动用储备金资 助两项特别计划，清楚说明我们打算使用所有可行方法，果断地应付危机。

我们之所以能够这么做，是因为过去几十年政府节俭储蓄及投资盈余累积所得，这是许多其他国家无法办到的。有鉴于此，政府须持续谨慎理财。当经济恢复正常时，继续把部分盈余拨入储备金。当严重危机再度发生时，我们才能胸有成竹地从容应对。

这些预算措施将舒缓经济衰退所带来的冲击，但却无法让经济瞬间回弹。事实上，没有任何一项政府配套能够做到这一点。这次经济衰退是全球性的。在未来几个月，我国预料将面对出口萎缩、失业率上升和经济出现负增长的情况。这种情况可能会持续一整年。

我 们必须打起精神应付充满挑战的牛年。但是，我们不必感到沮丧。我国有实力应对这场经济衰退。我们有资源、应对配套和韧力，能渡过这场风暴。牛在十二生肖中 象征沉着刚毅、勤劳坚韧的特性。它不是迅猛或盛气凌人的动物，相反地，它具有刚强可靠的秉性。同样的，我们也能凭着沉稳的毅力走完这艰难的年头。

虽然政府在应对危机方面投入很多，但我们还须提醒自己，社区与家庭其实也扮演着举足轻重的角色。

社 区和福利组织正在扩大援助网，以帮助更多有需要的国人。基层组织也以创新手法帮助居民。例如，杨厝港基层领袖定期举办“米满人生”的计划，分派白米、杂货 干粮及职总平价合作社购物券给贫困居民；其他选区提供免费食物或举办“星期天市集”，让失业及低收入居民摆摊做生意，赚取收入。

政府将全力支持这些社区活动，包括给予志愿福利机构和自助团体更多资助，同时把捐款的可征税收入扣除额提高到两倍半。我鼓励国人在经济低迷时期继续慷慨解囊。有了多方的援助，每名新加坡人都能安然渡过危机。

危机发生时，家庭是最重要的救生筏。当我们面对困难时，家庭给予我们安慰、希望和帮助。在目前的困难时期，家庭成员，甚至其他家族成员或亲戚，更应该团结起来，互相扶持。

国人本能地了解这一点。华侨银行最近进行的一项调查显示，国人今年的三大梦想是：生儿育女，成家立业和购置房子。这同去年的调查结果不同。去年的三大梦想是：周游世界，自我提升和赚钱。在目前不明朗并动荡不安的时局，国人的人生目标出现了转变，从个人理想和需要，转向住房、亲情和家庭。

的确，不论任何种族或宗教，家庭都是社会的基石。世界也许经历了急剧的改变，国人也许接受了更好的教育，也变得更加富裕，但家庭始终是人类和社会结构的核心。值此新春佳节，让我们谨记农历新年是一家团圆的日子，也是一家人欢聚一堂，编织美好回忆和增进感情的时候。

即 使市道不景，我们也不应忽略养育新一代的责任。在去年的国庆群众大会上，我曾展示一张显示我国总生育率趋势的图表。大家是否还记得，这张图表显示每当经济 衰退时，国人的生育率也会跟着下降。但我希望这次我们可以扭转这个趋势，让生育率保持平稳。我们已经推行了多项鼓励结婚与协助大家养儿育女的措施。所谓十 月怀胎，所以，幸运的话，你们的宝宝降临时，可能就是经济好转的时候。其实，最重要的是亚洲和新加坡接下来几十年会有什么样的前景。尽管目前经济不景，我 相信亚洲和新加坡的前景还是一片光明的。

目前，我们应对新加坡目前所拥有的一切感到庆幸。我们有稳定的社会、健全的经济以及能够吸引人才与投资并创造工作的良好声誉。我们必须在这些良好的基础上再接再厉，才能在危机过后，变得更加坚强，并且在一个截然不同、更具挑战性的世界里蓬勃发展。

最后，我祝所有国人新春快乐!