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PAP announcement: to give another $300 in Aug
- Thread starter TheGreatWhite
- Start date
Give chicken take a cow,joke,t
typical give 20 cents and take back 2 dollar come 2023 with the GST raise.
Cotton Chan ridiculed WP for suggesting giving $300 to each sinkie, claiming that WP
was insulting sinkies; that they would not be bribed so easily. PAP now giving away
money in $300 tranches.
Where is Cotton Chan?
was insulting sinkies; that they would not be bribed so easily. PAP now giving away
money in $300 tranches.
Where is Cotton Chan?
Just petty and spiteful partisan soundbites from a doofus.
The PAP has plenty of trashy people who came from the NTUC or the SAF.
They are the fly in the ointment, the turd in a fruit punch bowl.
We will still vote you out!!!
GST hike to proceed as planned to fund rising spending, says DPM Wong
GST hike to proceed as planned to fund rising spending, says DPM Wong
File photo of shoppers at a supermarket in Singapore on Jun 19, 2020. (Photo: AFP/Roslan Rahman)
Chew Hui Min
SINGAPORE: An upcoming increase to the Goods and Services Tax (GST) will not be delayed despite rising inflation, said Deputy Prime Minister Lawrence Wong on Tuesday (Jun 21) as he announced a new S$1.5 billion support package to help Singaporeans with rising costs.
The GST is set to rise from 7 per cent to 8 per cent in 2023, and to further increase to 9 per cent in 2024.
Advertisement
When asked by a CNA reporter at a press conference if the Government would consider delaying the GST hike, Mr Wong said the issue had already been debated extensively in Parliament.
“Our spending needs are rising very sharply, especially because of an ageing population and healthcare spending.
"We have looked at all the different possibilities for raising revenue and we have made various revenue moves in the budget, including on personal income tax, property tax, and luxury car taxes, but they are still not enough and that’s why we have to raise the GST,” said Mr Wong, adding that the tax hike has been pushed back "as late as possible".
The GST increase will be cushioned by an offset package, which was announced during Budget 2022.
When the question was raised again by other reporters, Mr Wong said that the issues to be tackled by the GST increase are medium- to long-term, and go beyond the current inflation issue. He added that Singapore’s revenue needs have to be met in a “responsible and sustainable manner”.
Advertisement
“This is not just tackling an inflation issue right now happening to Singapore,” he said.
“The challenges we face are longer term, we do not know how prolonged or deep these challenges will be. And we will be better positioned if we enter into this new environment with a strong economic and fiscal position.”
Elaborating on the challenges beyond inflation, Mr Wong said that Singapore has to deal with a "very different operating environment" and contend with climate change, a more bifurcated world, and domestic challenges such as an ageing population.
"To prepare Singapore well for these challenges, we have to press ahead with our economic reforms. We cannot afford to slow down, and that includes ensuring that we have a strong and sustainable fiscal position going forward because that will enable us to deal with a more uncertain future," he said.
PETROL PRICES
When asked if the Government is doing anything to tackle rising petrol prices, Mr Wong said that Singapore is trying to transition to cleaner energy and vehicles.
Advertisement
"This is a timely opportunity for us to do so, so we will try our best to accelerate the shift to cleaner, more energy-efficient vehicles and therefore reduce our reliance on fuel."
MOF said in a press release that any support measures should not "distort price signals", as these are needed to guide Singapore's economic restructuring and transformation.
It emphasised that Singapore needs to "press on with efforts to tackle climate change and to care for our rapidly ageing population".
Mr Wong added that for those who are more badly affected by high fuel prices, such as taxi and private hire car drivers, there are specific measures to help them.
They include a one-off relief of S$150 for eligible taxi main hirers and private hire car drivers.
Advertisement
There will also be up to S$300 in cash under the NTUC freelancers and Self-Employed Unit relief scheme for association members, which include self-employed limousine drivers and delivery riders.
Mr Wong also noted that new Omicron variants are pushing up the number of COVID-19 cases, when he was asked about the impact of any resurgence of the coronavirus.
"The downside risks are growing, both for the economy and for inflation. At this stage, we won't know exactly how severe the slowdown will be. It may well be that we are in a more benign situation where we are dealing with inflation ... but overall, the global economy is still able to grow despite some slowing down," he said.
But there could also be a different scenario in which the world and Singapore go into a "severe recession" where there is negative growth and rising unemployment.
"Of course we don't rule these things out. But if indeed, we are in such a scenario, then we'll have to think through all the different drawer plans to help Singapore tide through such a global recession and a domestic recession," he said.
"If there is an immediate emergency scenario, then we will have fiscal resources available, including our reserves to help tide through such an emerging national emergency scenario.
"But whenever we do any of these measures, we have to bear in mind the importance of doing things in a responsible and sustainable manner for the medium to longer term."
He added that all the Government's revenue measures, including the GST changes, will have to "take that perspective".
GST hike to proceed as planned to fund rising spending, says DPM Wong
File photo of shoppers at a supermarket in Singapore on Jun 19, 2020. (Photo: AFP/Roslan Rahman)
Chew Hui Min
SINGAPORE: An upcoming increase to the Goods and Services Tax (GST) will not be delayed despite rising inflation, said Deputy Prime Minister Lawrence Wong on Tuesday (Jun 21) as he announced a new S$1.5 billion support package to help Singaporeans with rising costs.
The GST is set to rise from 7 per cent to 8 per cent in 2023, and to further increase to 9 per cent in 2024.
Advertisement
When asked by a CNA reporter at a press conference if the Government would consider delaying the GST hike, Mr Wong said the issue had already been debated extensively in Parliament.
“Our spending needs are rising very sharply, especially because of an ageing population and healthcare spending.
"We have looked at all the different possibilities for raising revenue and we have made various revenue moves in the budget, including on personal income tax, property tax, and luxury car taxes, but they are still not enough and that’s why we have to raise the GST,” said Mr Wong, adding that the tax hike has been pushed back "as late as possible".
The GST increase will be cushioned by an offset package, which was announced during Budget 2022.
When the question was raised again by other reporters, Mr Wong said that the issues to be tackled by the GST increase are medium- to long-term, and go beyond the current inflation issue. He added that Singapore’s revenue needs have to be met in a “responsible and sustainable manner”.
Advertisement
“This is not just tackling an inflation issue right now happening to Singapore,” he said.
“The challenges we face are longer term, we do not know how prolonged or deep these challenges will be. And we will be better positioned if we enter into this new environment with a strong economic and fiscal position.”
Elaborating on the challenges beyond inflation, Mr Wong said that Singapore has to deal with a "very different operating environment" and contend with climate change, a more bifurcated world, and domestic challenges such as an ageing population.
"To prepare Singapore well for these challenges, we have to press ahead with our economic reforms. We cannot afford to slow down, and that includes ensuring that we have a strong and sustainable fiscal position going forward because that will enable us to deal with a more uncertain future," he said.
PETROL PRICES
When asked if the Government is doing anything to tackle rising petrol prices, Mr Wong said that Singapore is trying to transition to cleaner energy and vehicles.
Advertisement
"This is a timely opportunity for us to do so, so we will try our best to accelerate the shift to cleaner, more energy-efficient vehicles and therefore reduce our reliance on fuel."
MOF said in a press release that any support measures should not "distort price signals", as these are needed to guide Singapore's economic restructuring and transformation.
It emphasised that Singapore needs to "press on with efforts to tackle climate change and to care for our rapidly ageing population".
Mr Wong added that for those who are more badly affected by high fuel prices, such as taxi and private hire car drivers, there are specific measures to help them.
They include a one-off relief of S$150 for eligible taxi main hirers and private hire car drivers.
Advertisement
There will also be up to S$300 in cash under the NTUC freelancers and Self-Employed Unit relief scheme for association members, which include self-employed limousine drivers and delivery riders.
Mr Wong also noted that new Omicron variants are pushing up the number of COVID-19 cases, when he was asked about the impact of any resurgence of the coronavirus.
"The downside risks are growing, both for the economy and for inflation. At this stage, we won't know exactly how severe the slowdown will be. It may well be that we are in a more benign situation where we are dealing with inflation ... but overall, the global economy is still able to grow despite some slowing down," he said.
But there could also be a different scenario in which the world and Singapore go into a "severe recession" where there is negative growth and rising unemployment.
"Of course we don't rule these things out. But if indeed, we are in such a scenario, then we'll have to think through all the different drawer plans to help Singapore tide through such a global recession and a domestic recession," he said.
"If there is an immediate emergency scenario, then we will have fiscal resources available, including our reserves to help tide through such an emerging national emergency scenario.
"But whenever we do any of these measures, we have to bear in mind the importance of doing things in a responsible and sustainable manner for the medium to longer term."
He added that all the Government's revenue measures, including the GST changes, will have to "take that perspective".
I wonder if 1 day , GST will be 100%?
If you understand how GST works, you'll probably spit & curse at it. Example: Company imports product, assuming its not a GST waived importer(some importers are waived from GST for all their imports), importer pays gst on declared value of imported goods. Then he sells it to a distributor who then pays GST again based on invoice value. Then distributor sells to shops who is again charged GST value on invoice value. Finally, it sells to consumers who again, gets smack with another GST. See the number of times a product is TAXED before it finally reaches the consumers hands?
If a imported is waived GST for their imports, this BIG COMPANY escapes the 1st GST but all the way down to consumer still gets it.
What's wrong with making more $$$??? Someone once said!
If a imported is waived GST for their imports, this BIG COMPANY escapes the 1st GST but all the way down to consumer still gets it.
What's wrong with making more $$$??? Someone once said!
If you read my post, you'll see it's more than 100% for a long long time!!!
Please insult me 10x. Please, insult me thoroughly
I would rather they insult me than help me, like raising GST to help the poor.
PAP is just helping themselves with further help from inflation. How convenient.With the inflation these days, even if GST gets abolished you're still fucked.
If I buy a product for $20,with inflation is costs $28. Government will earn more.
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