The Fall of Net Investment Return Contributions?
Back in 2018, the PAP boasted that the Net Investment Return Contribution (NIRC) has more than doubled from $7b in 2009 to $15.9b in 2018. However, the NIRC for 2019 has dramatically dropped to $3.6b in - which is about half of 2009's NIRC when the world was facing an unprecedented global financial crisis! Under the rules, the...
Reality check and why we should not be afraid
We all know that from the mid 80’s onwards Singapore took a very wrong turn when it embraced Neo-liberal economics and focused almost exclusively on supporting businesses via GLC’s and Foreign Multinationals at every other expense. Before that we built a strong foundation and that still exists today. Although under flawed...
Top-ups, rebates and bonuses are one-off, GST increase and government smokescreen are forever
Goodies are generously being handed out with this year’s budget. Goodies for the young and old, for millennials and merdeka generation. Is this an election budget? The odds and signals certainly point in that direction. Amidst all the handouts, it’s easy to lose sight of the elephant in the room – the impending Goods and...
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