A GST Hike Is Inevitable In Singapore

At the recent People’s Action Party annual convention, Prime Minister Lee Hsien Loong spoke about a broad range of topics, including foreign relations, the economy, transport and infrastructure, among others.

Importantly, he highlighted how Singapore’s spending on the economy and infrastructure, as well as on social services and safety nets, are all necessary. In order to pay for these, Prime Minister Lee added that “raising taxes is not a matter of whether, but when”, reaffirming a point made by Finance Minister Heng Swee Keat in his Budget speech earlier this year.

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