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Bad times
'Why not lower GST?' MR THAM SWEE WENG: 'During bad economic times, interest rates are generally lowered to reduce business costs. But as bank rates are already at historic lows, why not lower the goods and services tax rate (GST) of 7 per cent to 4 or 5 per cent? By doing so, the cost of doing business will be reduced, since rent, utility charges, telecommunication and transport will be cheaper. Cheaper goods generally lead to higher consumption. Remember how the masses rushed to buy or stock up goodies before a higher GST rate became effective?'
We're still planning to HIKE GAssTea to Help U Poor Folks After the 09 Elections Leh! *hee*hee*
'Why not lower GST?' MR THAM SWEE WENG: 'During bad economic times, interest rates are generally lowered to reduce business costs. But as bank rates are already at historic lows, why not lower the goods and services tax rate (GST) of 7 per cent to 4 or 5 per cent? By doing so, the cost of doing business will be reduced, since rent, utility charges, telecommunication and transport will be cheaper. Cheaper goods generally lead to higher consumption. Remember how the masses rushed to buy or stock up goodies before a higher GST rate became effective?'
We're still planning to HIKE GAssTea to Help U Poor Folks After the 09 Elections Leh! *hee*hee*
