How the government turns a fiscal surplus into a deficit
Leong Mun Wai To answer that we need to do a simple breakdown of all the total fiscal resources available to the Government for FY2021 and compared it to the total expenditures. Most important to know is that there are three components which is the same as in previous years: The Operating Revenues collected through taxes and...
Why PSP’s proposed levy of $1,200 will right-tilt jobs towards Singaporeans
NCMP Leong Mun Wai I'll tell you why Progress Singapore Party's NCMP Leong Mun Wai's suggestion of $1,200 levy for employment pass holders will rebalance PMET jobs in the mid-high salary range towards Singaporeans. Let's say you hire a Singaporean in his prime for a job which pays $6,000, the employer's actual cost for hiring...
Quick thoughts on Budget 2021
Here are my 2 quick thoughts on Budget 2021. 1. Drawing on past reserves In the last General Elections, the Singapore Democratic Party (SDP) had proposed to suspend GST till end-2021, pay retrenched workers 50% of their last drawn salary for 18 months & provide a $500 monthly retirement income for lower-income seniors aged...
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