GST Hike: Singaporeans have the trump card
The delay in the implementation of the Goods and Services Tax (GST) is one that is well thought out and calibrated by the government. But Singaporeans do not have to take it lying down – there is recourse to call the shots. By announcing that GST will go up to 9% sometime between 2021 and 2025, the PAP leaves itself some wiggle...
Is there a black hole in government reserves?
With an estimated more than $1 trillion reserves, there is no justification for another GST tax hike. That PAP has insisted on raising GST by 2% after GE2020 has raised concerns about the state of our reserves. This is because a $1 trillion reserves generating net/expected real returns of 4% amounts to $40 billion. (Excluding...
The Art of Adding Insult to Injury
Forgo the GST hike and Singaporeans could end up finding imported goods and holidays less affordable. This was the warning given by Chan Chun Sing at a Lunar New Year dinner. The pain of having to contend with price hikes and tax hikes is bad enough. But politicians like Chan have the habit of making it worse by giving excuses...
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