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If ever there was a budget laden with cheap gimmicks and full of wayang, this one is it.
Finance Minister Heng Swee Keat announced an ‘ang pow’ of up to $300 for every individual. The giveaway amounts to $700 million. This is against a collection of a surplus of $9.6 billion the previous year.
In other words, the government is giving back to taxpayers 7 cents for every excess dollar it collected in taxes and fees. For the government, this is a wonderful scheme.
The government had forecast that it would collect only a surplus of $1.9 billion but ended up collecting $9.6 billion instead – more than five times the originally estimated amount.
Such an absurdly discrepant amount reflects poorly on the Minister’s judgment, planning and execution of the country’s fiscal system. The hantam buta strategy of tax collection has resulted in the P@p wildly over-collecting from citizens.
To prevent an outcry of why it collected so much more revenue than it needed, the government tries to placate and distract Singaporeans by announcing the ang pow gimmick.
More at
Budget 2018: A Budget of Wayang and Cheap Gimmicks
Finance Minister Heng Swee Keat announced an ‘ang pow’ of up to $300 for every individual. The giveaway amounts to $700 million. This is against a collection of a surplus of $9.6 billion the previous year.
In other words, the government is giving back to taxpayers 7 cents for every excess dollar it collected in taxes and fees. For the government, this is a wonderful scheme.
The government had forecast that it would collect only a surplus of $1.9 billion but ended up collecting $9.6 billion instead – more than five times the originally estimated amount.
Such an absurdly discrepant amount reflects poorly on the Minister’s judgment, planning and execution of the country’s fiscal system. The hantam buta strategy of tax collection has resulted in the P@p wildly over-collecting from citizens.
To prevent an outcry of why it collected so much more revenue than it needed, the government tries to placate and distract Singaporeans by announcing the ang pow gimmick.
More at
Budget 2018: A Budget of Wayang and Cheap Gimmicks
