Since yesterday, this piece of raise GST rumours has been circulating in social media.
Some misinformation going around that the GST gonna be raised to 10 per cent after GE. Someone even bothered to make stickers to Say no to GST rise and to vote wisely. Seems SDP distributed copies during a walkabout? I suppose TECHNICALLY, it won’t be wrong because any rise MUST come after the GE but how long after is something else because Mr Tharman already said he’ll hold it steady. Finance ministry has come out to refute it.
Looks like we’re gonna be hearing/reading more scary stuff – and yes, we should vote wisely than get swayed by catchy (false) slogans
Ministry of Finance has clarified that there is no basis to claims that the Government will raise GST after the next general election to fund increased spending. Read more here: http://str.sg/ZnMP
What Singaporeans Say?
Bertha Henson The thing is, some things are bound to go up sooner or later – whether its the PAP or the Opposition in charge. If it’s Say No to GST rise, so its Say Yes to Income Tax rise? What about say Yes to Higher Wages? Say No to lower/higher inflation? I seriously dont think we should be tying anybody’s hands with electoral threats and parties would be silly to make promises they can’t keep. How can a country be governed this way? · 28 · Likes
It’s ironic how the people who are asking for more social spending are also the ones scaremongering about higher taxes in order to win votes.
In western democracies at least the parties who ask for more spending are honest – they also campaign for higher taxes.
Would like to see some of these Santa Claus politicians be honest for once in these elections.
Go up to stage, promise the people more, promise to narrow the income gap, but also say you need to tax the people more.
See who votes for you!
News Report From ST
No basis to claims of GST hike: MOF
There is no basis to claims that the Government will raise the goods and services tax (GST) after the next general election to fund increased spending, the Ministry of Finance (MOF) has said.
Such claims, which have been made on some websites, are inconsistent with what the Government recently stated, the ministry said in a post on the Government’s website www.gov.sg
Stickers with the slogan “Say No to 10 per cent GST – vote wisely” and incorporating the People’s Action Party’s (PAP) logo have been seen distributed. Copies of one such sticker were distributed at a Singapore Democratic Party walkabout in Holland-Bukit Timah GRC on Friday.
n its post, the Finance Ministry said that in the debate in Parliament on the Budget in February, Deputy Prime Minister Tharman Shanmugaratnam said the increased spending planned for the rest of this decade is sufficiently provided for by measures that the Government had already taken.
For instance, Temasek Holdings will be included in the Net Investment Returns framework starting from next year, a move that will allow the Government to draw on up to 50 per cent of Temasek’s long-term expected returns.
Also, the top marginal income tax rate for those earning above $320,000 a year will be increased from 20 per cent to 22 per cent for taxes to be paid in 2017. This is expected to raise government revenue by $400 million a year.
NO NEED FOR ADDITIONAL MEASURES
In its post, the Finance Ministry said that in the debate in Parliament on the Budget in February, Deputy Prime Minister Tharman Shanmugaratnam said the increased spending planned for the rest of this decade is sufficiently provided for by measures that the Government had already taken.
“These measures came after moves in recent years to make Singapore’s property tax rates more progressive, with significantly increased tax rates for high-value residential properties, offsetting reduced tax rates for lower-value homes,” the statement added.
GST of 3 per cent was introduced in Singapore on April 1, 1994. It was raised to 4 per cent in 2003, and to 5 per cent in 2004. In July 2007, it was again adjusted to its current rate of 7 per cent.
Talk of a GST hike cropped up ahead of the 2011 General Election as well, and that was also dispelled by the Government. Prime Minister Lee Hsien Loong stepped in at the time, as he and fellow PAP MPs distributed fliers to residents stating there would be no such rise.
Chong Zi Liang