Tag Archives: GST Hike

Covid19: Basic Maths For Budget Planning 101

A contributor has shared some interesting calculations for Budget 2020. In Finance Minister Heng Swee Keat's round-up speech on debate on the Fortitude Budget in Parliament, he revealed that Singapore is "committing almost $100 billion, or close to 20 per cent of our GDP, to our Covid-19 response". Once the PAP increases GST from 7% to 9%, our contributor estimates this should bring in an estimated extra 0.7% GDP per year. So in order to cover the money spent on the Special $100 billion Covid19 Budgets, our contributor suggests that the government will need around 28.5 years to claw back this amount. Could this mean that the PAP has a lot of extra in our reserve and they don't really need the extra 2% GST to begin with?

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SDP launched its 4Y1N GE campaign in response to Covid19

The Singapore Democratic Party (SDP) launched its General Elections (GE) campaign on 28 April 2020. The Covid19 pandemic has changed Singapore's politico-socio-economic landscape, so the SDP has drawn up 5 focus points to deal with these changes in the immediate and long-terms. These points are covered under their "Four Yes, One No" (4Y1N) campaign.

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Is Integrity Telling People In Advance About GST Hike, Or Saying Sorry For GST Hike

The fact that GST is going to be raised sooner or later now does not even surprise Singaporeans anymore. So, is integrity really about telling Singaporeans in advance about the expected hike, or actually apologising to Singaporeans that all those noise about GST not being raised were in the end not true? Shouldn't DPM Heng, who is also the Finance Minister, show more integrity to Singaporeans by saying that the government could not fulfill its promise of just four years before, and thus apologise for this breaking of promise? That is integrity.

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Heng Says Govt Has Integrity When They Announce Planned GST Hike. Really?

His statement smacks of him praising his party to high heavens. He might have forgotten PM Lee's promise during the last election campaign that GST would not go up, quashing WP's claims that it would. No matter, because according to Heng, just because you are upfront about the raising of GST it means you have integrity, past promises be damned.

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