Retired banker Chris Kuan put PAP MPs to shame in budget debates
Retired banker Chris Kuan, who spoke at forums organized by oppositions on Singapore's reserves as well as the estimated long-term return of our reserves, made several postings on his Facebook page recently to rebut some of the budget speeches made by PAP MPs. Not surprisingly, many MPs from the People's Action Party spoke on...
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...
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