Tag Archives: Virus

GE2020: Lee Hsien Yang Says PAP Mishandled Covid19 Pandemic

Singaporeans will have to go out to vote on 10 July when they would have preferred to stay safe from the risk of getting COVID-19. Almost three months after lockdown began, new cases still remain stubbornly in the three-digit range, a result of the PAP’s poor handling of the pandemic. The resulting economic damage could have been avoided.

Read More »

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?

Read More »