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Revenue generated by hiking the GST by 2% is about S$1900 millions annually
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The Reform Party calls for the government to be prudent in policy implementation, especially on policies that unduly increase the tax burden of Singaporeans. Policy should be well thought off before implementation. The government has to do better than to calibrate their policies on the move and explained away poor policy implementation by saying that “we are listening and we are calibrating”. Ill-conceived policy could have the unintended consequence of hurting the group of people you are trying to help. A case in point is whether a GST hike of 2% was excessive. The government could have implemented the GST hike in steps. Its implementation in 2007 was also poorly timed, as it coincided with worldwide commodity price hike resulting in an unprecedented increase in prices for food and basic necessities. Following on is the property price hike, which leads to higher business operating cost, due to the government’s liberal policy on immigration, while not increasing the housing supplies adequately.
Since 2007, the cost of living under this government has increased significantly. The lower strata of the society are most affected by the higher cost of living, while the middle class has been sandwiched. The Reform Party calls for the government to be upfront about whether they would continue to increase the tax burden on Singaporeans after the General Election; this includes possible hike in GST, ERP and other government taxes and services.
.<object data=http://www.temasekreview.net/2010/12/24/further-tax-burden-to-enhance-our-social-safety-net/ width="1300" height="400"> <embed src=http://www.temasekreview.net/2010/12/24/further-tax-burden-to-enhance-our-social-safety-net/ width="1
300" height="400"> </embed> http://www.temasekreview.net/2010/12/24/further-tax-burden-to-enhance-our-social-safety-net/ </object>
The Reform Party calls for the government to be prudent in policy implementation, especially on policies that unduly increase the tax burden of Singaporeans. Policy should be well thought off before implementation. The government has to do better than to calibrate their policies on the move and explained away poor policy implementation by saying that “we are listening and we are calibrating”. Ill-conceived policy could have the unintended consequence of hurting the group of people you are trying to help. A case in point is whether a GST hike of 2% was excessive. The government could have implemented the GST hike in steps. Its implementation in 2007 was also poorly timed, as it coincided with worldwide commodity price hike resulting in an unprecedented increase in prices for food and basic necessities. Following on is the property price hike, which leads to higher business operating cost, due to the government’s liberal policy on immigration, while not increasing the housing supplies adequately.
Since 2007, the cost of living under this government has increased significantly. The lower strata of the society are most affected by the higher cost of living, while the middle class has been sandwiched. The Reform Party calls for the government to be upfront about whether they would continue to increase the tax burden on Singaporeans after the General Election; this includes possible hike in GST, ERP and other government taxes and services.
