[Sg] Lawrence Wong warns : If we had 20% less NIRC today because our forefathers spent more, our GST would have to go up another two percentage points

[UltimaOnline]

Noting that being prudent and disciplined was a virtue, he said Singaporeans should appreciate how their forefathers left behind reserves.

"They did not think along the lines of 'let's just optimise our consumption… and spend as much as we can'," said Mr Wong. "If we had 20 per cent less NIRC today because our forefathers spent more, the GST (goods and services tax) would have to go up another two percentage points to 11 per cent."

He had made similar points to rebut opposition MPs at the Budget debate, who had suggested raising NIRC spending to 60 per cent and including a proportion of proceeds from land sales in recurrent revenue as alternatives to raising the GST from 7 per cent to 9 per cent.

https://www.straitstimes.com/singap...owing-much-faster-than-reserves-lawrence-wong

https://forums.fuckwarezone.com.sg/...-another-two-percentage-points-to-11.6716919/

 

[laksaboy]

Bullshit. Downsize your bloated government and curb the frivolous spending especially on the military.

With profligate spending it doesn't matter how much the GST rate is. You'll find other avenues to steal money from.

 

[batman1]

Cut down ministers' salaries by 90% ,then don't have to increase GST by 1% or 2 % .

 

[millim6868]

The white clowns are feeding themselves fat,with so many related,Don hv to tell,lol