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The day after he laid out the Government’s economic plan for 2019, Finance Minister Heng Swee Keat fielded questions on the budget on Channel NewsAsia’s Budget 2019 Forum, that was broadcast live on national television and on Facebook.
In the forum, Heng confirmed that the Government will not absorb the Goods and Services Tax (GST) for essential items to help low-income or middle-income families.
Heng, however, declined to consider absorbing the GST for essential items to lower the cost of living for middle-low income families. He said: “This was very carefully studied before we introduced GST. And I took a look at it again recently when this was discussed.”
The Finance Minister said that the Government will not absorb GST for essential items since it wants to make the GST system simple. He said: “We do not cause any confusion, everybody pays the same amount for everything we purchase.”
In the forum, Heng confirmed that the Government will not absorb the Goods and Services Tax (GST) for essential items to help low-income or middle-income families.
Heng, however, declined to consider absorbing the GST for essential items to lower the cost of living for middle-low income families. He said: “This was very carefully studied before we introduced GST. And I took a look at it again recently when this was discussed.”
The Finance Minister said that the Government will not absorb GST for essential items since it wants to make the GST system simple. He said: “We do not cause any confusion, everybody pays the same amount for everything we purchase.”