You have heard this fear-mongering also. They tell you the government will raise GST after the coming election.
Not only is there no basis to this claim, it is also inconsistent with what the government has already stated.
In the Statement for Budget 2015, DPM Tharman Shanmugaratnam, said:
“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.” (Emphasis ours) (Refer to paragraph G38 of the Budget Speech)
And in rounding up the 2015 Budget Debate, DPM Tharman stated, “We have prepared ourselves in advance and that must remain the way in which we plan for our budgets in the decades to come. With the change to incorporate Temasek in the NIR framework and the other tax changes I have introduced, in particular the increase in the personal income tax rate, we will be in a good position for at least the rest of this decade."
The Government’s approach remains that of responding to changing circumstances and planning revenue measures in advance of Singapore’s future needs. Through this forward-looking approach, we have been able to meet the growing needs of our people in healthcare and invest in our future, while preserving fiscal sustainability and Singapore’s Triple-A credit rating.
Source: Factually
http://bit.ly/1HsEcis
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