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Budget 2014 Highlights (updated 24/2)

*Good news: No new foreign workers caps PIC Extension till 2017* As announced by the Finance Minister Tharman on 21 Feb 2014, this is a 'People' Budget.  As such, there are not many things for businesses.  In fact, if you are an old person (called 'Pioneers'), you will get lots of benefits.  Not so for smokers and drinkers, there will be a 10% tax and 25% increase respectively. Here are the highlights: (more details will be revealed by the Government over the next week). All Singaporeans will receive GST vouchers of $250 cash , an increase over last year.  This may not mean much to most you, but will make your staff feel slightly happier TODAY Excise duty on tobacco and liquor to rise by 10% and 25% respectively, effective from 21 Feb 2014. Drinkers will face rising cost, and this will affect pubs that rely on liquor sale negatively Betting duty rates on lotteries to rise to 30% from 25%. This has zero impact on the punter (impact on Singapore Pools only) L