Here's how to boost the economy

Does the Singapore Government want the economy to remain sustainably robust? The answer is a no-brainer. Before I go into the how-to-do-it, let me just add that taking this route would also

• make citizenship truly meaningful for Singaporeans
• honour the elderly
• encourage life-long thrift and home-ownership

Here is the how:

1) Set aside at least $1.3 billion per year (assuming 30,000 beneficiaries and $50K per capita pay out) to help older Singaporean home-owners to unlock the value of their homes

2) Use this to give an interest-free advance to the oldest among Singaporeans who are 50 and above

3) Everyone receves the same amount, regardless of the size of the home owned

4) Other criteria 

• 
  
  ownership of a fully paid home
  
  
  
• 
  
  must be a citizen of at least 20 years standing
  
  
  
• 
  
  all things being equal, Singapore-born citizens will get the advance ahead of citizens by naturalisation
  
  
  

5) The advance will have to be repaid by the recipient to the Government if he sells his home, interest free. Ditto, if his home is sold by his estate.

6) After 15 years, the beneficiary will receive a second tranche, provided he is the owner of a fully-paid for home.

7) The advance can be used for anything the beneficiary deems fit.

It's a bonanza for elderly home owners and a neat and meaningful way to recyle cash into the economy.