When you exempt a basket of goods or essential items, in the end you benefit the well-to-do, because the well-to-do will spend more on everything, not just luxury items, but basic necessities as well.
”DEPUTY PRIME MINISTERLAWRENCE WONG, noting that tieredsystems are not effective. He added that Singapore’s GST system – with its series of offsets and rebates – is deliberately designed to be fair and effective.
The suggestion that the goods and services tax (GST) increase should be postponed due to current inflationary pressures does not hold water,DeputyPrimeMinister Lawrence Wong told Parliament on Monday. The Government’s support measures delay the effect of the hike by at least five years for the majority of Singaporean households, he said. That the support is targeted at
lower- to middle-income households, rather than broad-based, will also minimise any additional inflationary pressures, he added. “We have designed the overall
package to ensurewe neither stoke inflation inadvertently nor choke aggregate demand, and this is an appropriate macroeconomic stance to adopt at this juncture.” Rounding up the debate on the
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