HEAR only the good stuff. Sounds familiar? That’s the tagline for Gold 90.5FM ad, where a cannot-make-it child learns tennis as the dad watches with the tennis coach.
Here is the video to trigger your memory:
Kid learning tennis
And the other one:
Lady taking driving lesson
Are we stuck in a silo of only hearing the good stuff? Straits Times reported in August 2015 that there was no basis to claims that the Government will raise the goods and services tax (GST) after the next general election to fund increased spending.
Million-dollar question: Taxes, taxes, taxes
Will taxes NOT increase? Hmmm, according to the 2015 Budget speech by DPM Tharman, this is what he mentioned:
“Based on current projections, the revenue measures we have undertaken will provide sufficiently for the increased spending needs we have planned for till the end of this decade. This must remain our approach – ensuring that we always have the resources to meet our commitments.”
Having enough revenue does not equate to not raising taxes. This led to dicussions that taxes will increase and G is breaking their election promise. If we examine PM and DPM’s statements, they are consistent:
PM’s – “For this current term of government, we have enough revenue”. The term of G is from 2015 to 2021, unless a general election is called before that.
DPM’s – “We have planned for till the end of this decade”. One decade is 10 years, do the mathematics.
Will taxes NOT increase? If we do not need to plan for the future, taxes need not increase. But to be future-ready, G has to bite the bullet and implement this unpopular decision. To be honest, we are also cursing when we heard PM’s comments on raising taxes.
However, you can choose to hear only the good stuff or understand that Singapore is not a bed of roses. But who knows, GST may only increase after 2021.
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