Singapore’s creative Budget accounting (1)
The budget for F/Y 2014 has been published. At first glance, it shows a budget DEFICIT of $1.16 billion (0.3% of GDP). THIS IS BULLSHIT. If the budget complies with the standards of the International Monetary Fund it would show a SURPLUS of well over $10 billion (2.5% of GDP). One major item which was splashed all over the...
Analysis of some questionable points in Budget 2014
I refer to the Budget statement that has just been delivered in Parliament. CPF contribution rate increase by 1.5% for aged above 50 to 55? “We will raise CPF contribution rates for those aged above 50 to 55 by 1.5 percentage points – 1 percentage point from the employer and 0.5 percentage points from the employee.” Take-home...
CPF funds’ future purchasing power eroded by inflation
This is sort of a follow-up of my previous article “Why Singapore’s Interest Rates so low?” (https://www.tremeritus.net/2014/01/26/why-are-singapore-interest-rates-so-low/). In this article, I shall be musing about the impact on inflation on our CPF money from both the account holder and the government perspective. Again...
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