Photo of Lee Hsien Loong and Goh Chok Tong from SPH

Hong Kong’s 2020 Budget to help residents tide over the recession caused by the Wuhan coronavirus had put Singapore to shame, with them paying each resident HK$10,000 (S$1,787).

In Singapore, the Budget gives each citizen only S$300, or a sixth of the Hong Kong budget in comparison. In addition, Hong Kong small businesses also get full low-interest loans from the government.

Hong Kong have 93 cases of confirmed infected, while Singapore have 98 cases. Hong Kong’s unemployment rate is currently at 3.4%, while Singapore is at 3.3%. The tourism industry of both countries have collapsed, and both economies are expected to go into recession this year.

Singaporeans however are unable to get more financial assistance because government spendings have gone out of control. The Singapore government landed itself in a S$10.95 billion deficit this Budget, with cash burners like Terminal 5, Tuas Mega Port and Cross Island Rail uncompleted. Each mega project costs at least S$15 billion.

The Singapore ministers, totalled at least S$53 million a year, even had to take a month’s pay cut to fund the bonuses of frontline staffs.