Workers' Party unable to support GST hike for now: Pritam Singh
Staff Writer, Singapore
Yahoo News Singapore
27 February 2018
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Objecting to the government's budget requires WP to offer alternative source of revenue to meet the proposed expenditures.
Drawing down the country's reserves (the nation's savings for rainy days) is a "no-no" and should only be done in real disastrous "life or death" situation.
This national savings are accumulated over the past 50 years by the frugal practices of the pioneers generation and must not be fritter away by irresponsible withdrawals.
However these assets appear not being prudently managed at the moment with unconfirmed report of huge losses.
WP should query these reported losses in Parliament instead of eyeing on the spending of the reserves to meet expenditures.
Earnings such as dividends from these assets can be considered for use but not the principal investments.
A more successful investments can therefore generate more income to cover the budget expenditures.
This is more important for WP to follow up.
GST hike will be key issues in the budget debate. PaP MP, said they will talk about this and that, none said they will ask why the need to increase GST, and propose cut to the ministers pay.
I don't see the logic that despite a surplus of $9.6 billion and giving every Singaporeans between $100 to $300, the Finance Minister is looking forward to hike GST by 2% to 9% after the 2021 election. Rather the Minister keeps the $100-$300 and not jack-up the GST in future. It does not make sense to intend to increase GST down the road when you don't even know whether we have surplus or deficit. Can the Finance Minister forecast whether we have deficit or surplus for 2018 balance sheet.?
I don't support for the hike in GST and water either. When we talk about uniform increased in tariff, the poor and underprivileged will definitely lose out! Same goods and services, the rich pays the same tax rate as the poor like school fees, public medical treatment and utilities bill so how to justify?
One can argue that bursary and scholarship can be awarded to offset the hike in school fee; one month conservancy charges waive off and etc. However the rich are eligible for scholarships as well; they can spend their money overseas and even on internet purchase, so who suffers in the end?!
Very well said WP! How to tell us you want to raise GST....in a few years time....when TODAY....NOW.....
- we have surplus last year....BETTER THAN EXPECTED.
- Reserve??.....cannot use. But we don't even know HOW MUCH WE HAVE OR LEFT.....just say cannot use??
- raise GST....when?...don't know.....how much?.....don't know....only know want to raise...
meanwhile....allocate funds for infrastructure for Rails connecting to Malaysia ...FOR WHAT??.....regular citizens don't use it every month
...allocate funds for airport 5 ....for WHAT??......local citizens don't fly every month!!
....So....why should citizens be paying more GST especially when people have LOST JOBS....meanwhile.... our children are TAKING LONGER TIME to pay for their own HDB Flats.
Please don't tell us the funds is to support elderly citizens........because they VOTED FOR YOU FOR 5 DECADES......the so call talented government should have BUDGETTED for an aging population. If you cannot even calculate....20 years old will be 60 in 40 years' time......HOW TO CONTINUE TO MANAGE OUR RESERVE and country.......sigh......
Hi ! Why Heng announce GST to be raised from 7% to 9% sometime from 2021 to 2025..? Come 2021 the GE result will determine how popular PAP. If PAP win by 60%, they will postpone the GST, because PAP will be " just above the water of 2/3 majority " that is 57.3%. SO obviously PAP will postpone to 2025. These date propose by Heng are not magic numbers, there are things connected. It means 2021 fail and try to raise the GST by next GE next 2015, hoping to get back 70% margin and "bingo ".....SO....VOTERS must denied PAP's margin win by not more then 60 %. This allow them to form the Government in2021 but cannot anyhow change rules, law or regulation..etc. Singaporeans knows non of our opposition parties can form the Govt. in 2021 but many believe that opposition parties will be able to form the Govt. by 2025. ! SO....GST remain as 7%..if opposition win..!
for past 53 yrs ,,,economy up or down never heard of tax reduction , never , something fishy have been going on .
GST from 3 % (1994) ---> 7 % ( Jul 2007 ) ----> 9 % ( 2018 to 2025)
1. 300 % GST Increase and ALL by Lhl.
2. Heng make it known that GST 9 % is more likely to be PULL forward from 2021. So asking for blanket cheque of implementing it anytime they want eg 2018 !!!
What is stopping GST from going UP to 12 % ???
Answer --- Your VOTE !!!
That's why I vote WP they have more common sense and they know hardship of our low income fellow citizen.
"We will also need some understanding of the government’s offset package for the low-income and middle-income should the GST be raised....." most studies conclude that the low and middle income earners spent most on essential items like food groceries than the rich class. Its a fact that their spending are the ones that contribute most to the growth of the economy and Not the Rich. If the GST increases, it could impact on the prices of daily essential items and over the medium/llong term, this could Negatively affect the spending pattern of the average wage earners and thus the overall economy.
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