During this year’s budget debate, WP proposed various alternatives to raising the GST.

WP Secretary-General and Opposition Leader Pritam Singh said, “GST was expected to rise, but it’s a difficult time for the people. Inflation is on the rise and prices are high.

“The Labor Party has previously raised several proposals in the house for both tax and reserve framework adjustments, which are enthusiastically and inaccurately portrayed by the PAP (People’s Action Party). As such, it does not constitute a reserve assault, “he added. ..

Mr Wong said on Tuesday that while inflation is a concern, there are medium- to long-term challenges to address Singapore’s inability to postpone, such as climate change and rising medical needs of Singaporeans.

“The challenges we face are long-term. I don’t know how long or deep these challenges will be. And if we enter this new environment from a strong economic and financial standpoint, I Will be in a better position. “

The support package is funded with higher-than-expected financial results in 2021 and does not require funding from past reserves.

This includes an additional GST voucher cash special payment to eligible Singaporeans up to 3-5 million Singaporeans and S $ 100 of utility credits for all Singapore households to offset rising energy prices. included.

Source link

Previous articleEmirates News Agency-Sharjah Asset Management Launches Phase 2 of Souq Al Haraj
Next articleIceland’s interest rates pass pre-pandemic highs