Rejoice...are u sexciting that more help is promised coming after 2030, kym?

[k1976]

There will be no further increases in the Goods and Services Tax (GST) up to year 2030, said Deputy Prime Minister Lawrence Wong in Parliament today (Feb 28) as he wrapped up the debate on his Budget statement.

He was responding to a query by Progress Singapore Party (PSP) Non-Constituency MP Hazel Poa, who asked if there would be a need to raise GST further between now and 2030.

She had raised the question in relation to the recent increases in GST to eight per cent in 2023 and subsequently nine per cent in 2024.


"We have closed the funding gap up to 2030. The GST increase that we announced was intended for this, so we are okay up to 2030. We do not need further GST increases up to 2030," he replied.

 

[k1976]

https://www.asiaone.com/singapore/s...t-increases-2030-were-sound-position-dpm-wong

 

[k1976]

However, DPM Wong also caveated that "post-2030, we'll have to see what the picture is, and beyond that we'll have to see… whether or not additional revenues or tax changes are needed to close funding gaps."

He added: "As of now, up to 2030, we are in a sound position."

 

[k1976]

GST increase not key cause behind inflation spike: DPM Wong​

In Parliament, Wong also replied to a question by Workers' Party MP Jamus Lim, stating that the increase in GST is not the key reason behind the spike Singapore's inflation.


"We have seen the impact on monthly inflation when GST went up, but if you look at subsequent trends… inflation continues to moderate as it has in other advanced economies," he said.

"The impact of GST is not the key driver behind our inflation spike… and neither will it cause our inflation to remain high."

According to Wong, inflation is a global trend resulting from Covid-19 and pandemic-related restrictions, as well as the Russia-Ukraine war bringing a further surge in prices.

He added: "This inflation trend that's happening globally, we are seeing similar trends in Singapore, and our inflation rates are also coming down."

Wong had also shared earlier in his speech that core inflation for the fall of 2023 would have been 6.6 per cent instead of 4.2 per cent had the Monetary Authority of Singapore not acted in time

 

[k1976]

GST is to help the poor , why so many low ses dun understand?

 

[k1976]

How much help is needed to help the sia suay sinki?

 

[laksaboy]

Daft Sinkies will have to learn the hard way.

 

[k1976]

Recently, Kopitiam seem to have less Unker Drinking Tiger Beer leh....where are they sia.

Beer auntie jin missed them very much

 

[firehyrant]

Recently, Kopitiam seem to have less Unker Drinking Tiger Beer leh....where are they sia.

Beef auntie missed them very much

cdc voucher use finish already?

 

[Pinkieslut]

Steamed!

 

[ODACHEK]

When WWIII comes, PAP gov will say otherwise and hide themselves in deep drain bunkers with their good bars.