Herein lies the conundrum: Nobody is truly ‘average’, and so those who consume a narrower basket of goods and services will feel the pinch more acutely. This leaves many individuals and families feeling like the coupons, subsidies and rebates fail to make up for the magnitude of the price increases that they face.
Raising the goods and services tax (GST) amid the uncertain inflation outlook and higher prices is an “irresponsible” move that should be postponed, Workers’ Party MP Jamus Lim said on Monday. Hitting back at comments by
Deputy Prime Minister Lawrence Wong on how it is “more responsible” to proceed with the GST increase, Associate Professor Lim (Sengkang GRC) told Parliament that this was not the case. Mr Wong had said on Oct 14 that
while the global inflation outlook may be uncertain, the spending needs of Singapore are clear, and proceeding to increase the GST in the coming years is a “more responsible approach”. OnMonday, Prof Lim said that in
principle, tax increases could well dampen overall demand and tame rising prices, but added that these taxes could also end up raising the costs faced by firms and they could instead end up constricting supply, which will push up prices.
Diese Geschichte stammt aus der November 08, 2022-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der November 08, 2022-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Fans' 'cheers' inspire Kenya to their first trophy
The crowd of 1,280 at the OCBC Arena on Sept 7 may have comprised mainly Singaporean supporters, but that did little to intimidate Kenya's netballers who were facing the hosts in the Mirxes Nations Cup final.
TRIBUTES, TEARS FOR BISHOP
Netball coach steps down for personal reasons; Yeo to lead S'pore to Asian c'ship
Rodrygo pleased to score in 'ugly' Brazil win
Real Madrid forward Rodrygo did not mind an \"ugly win\" as long as his struggling Brazil side beat Ecuador at home on Sept 6.
DESIRE, PASSION BEHIND ITALY'S WIN
Spalletti praises young side's mental strength and teamwork in comeback victory in France
Wedding can wait for doubles champ Kichenok
Newly crowned US Open women's doubles champion Lyudmyla Kichenok had plans to get married this week but revealed on Sept 6 that her unexpected appearance in the latter stages of the Grand Slam forced a postponement.
Cheptegei's death highlights domestic violence in Kenya
Moureen Atieno Omolo was unable to sleep for days after hearing about the deadly attack on Ugandan Olympian Rebecca Cheptegei, whose former boyfriend doused her in petrol and set her ablaze on Sept 1.
Several Asian states 'capable of hosting Olympics'
Better marketing for the Asian Games and getting more sponsors on board will be high on the agenda when Randhir Singh takes over as president of the Olympic Council of Asia (OCA) on Sept 8, the veteran administrator told Reuters.
TEEN SIMMERS DOWN TO WIN WORLD TITLE
Second-year pro surfer blocks out emotions to beat ace Marks; Florence is men's champ
Transport issues but LA28 aims to deliver best show
Los Angeles cannot compete with the iconic landmarks of the Paris Olympics, but LA28 organisers are confident the Hollywood factor and their city's identity will help them raise the bar when they host the global event.
DUO'S GOLDEN SLAM IS 'STUFF OF DREAMS'
Hewett and Reid finally add the Paralympic crown to their 21 Slams to emulate Djokovic