jan 1, 1948 - Economy rebuilt

Description:

Without trade and the industry, it was hard to get jobs and the government was unable to get sufficient tax revenue to pay for programmes that improved people's welfare.

No jobs = No income = No income tax = Lower Spending = Lower sales tax = Companies earn less = Less corporate tax = Government earns less tax

Hence, the British repaired the ports, restored SG's status as a trading centre and the volume of trade surpassed pre-war levels as demand for tin and rubber grew.

Added to timeline:

Date: