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Singaporeans continue paying

In a few weeks’ time, GST will go up. The PAP government will raise GST by 14.3% (from 7% to 8%) with another similar rise a year later, making a total increase of 28.6%. No matter the compelling and reasoned economic arguments against this rise, no matter the appeals for compassion and the pleas to delay.

The PAP government needs to spend, and therefore Singaporeans must pay, that is essentially its explanation for going ahead. They say trust us when we say this package is sufficient, that grants will help, that vouchers will keep the poor afloat. They say believe us when we say any public spending beyond these fiscal rules means drawing on the past reserves, which leaves behind less for the next generation.

Singapore’s fiscal position for FY2022 includes a Net Investments Return Contribution (NIRC) of $21.6 billion, yet we are told that the country is still at a budget deficit of $5.4 billion for the year.

How are we to trust figures which are shrouded in secrecy? When meaningful detail and transparency remain frustratingly elusive and any attempt to obtain clarity is met with obfuscation and condescension, the questions must keep coming.

We are told the NIRC is limited to a maximum of 50% of net investment returns on the reserves. 50% is self imposed and arbitrary. It was set by parliament several years ago. Likewise, it can be changed by a super majority in parliament. Since 9 Aug 1965, the PAP government has amended the Singapore constitution 52 times.

How large a reserve would be enough? Why must cash from land sales of all leasehold land that reverts back to the state be excluded from revenues? Why must GST be raised?

Quite apart from how the numbers are calculated, government spending needs to be prudent and wise. Equally, the custodians of our monies need to invest with rigorous care. And there needs to be full transparency, and accountability.

During GE2015 when GST stood at 7%, PM Lee said: “What would make you need to raise GST? Profligate spending and irresponsible, unsustainable plans.”

Could this dire warning have indeed come true?

 

 

* Facebook post by Lee Hsien Yang.

 

 

 

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READER COMMENTS BELOW

37 Responses to “Singaporeans continue paying”

  • President Yang:

    Yes, we need a President keen to look at finance. Where’s the money? Where the money going?

    Vote him in.

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  • only stupid people vote pap:

    President Yang:
    Yes, we need a President keen to look at finance. Where’s the money? Where the money going?

    Vote him in.

    Yes. Very well said. Agree.

    In case sinkies don’t know, the current INDIAN selected as malay president by pap does not know finance.

    This INDIAN masquerading as malay president is never keen to look at finance but only her S$5m per annum pap paid loyalty wage.

    This fake malay president whose I/C says she is INDIAN does not know where sinkie monies are because it takes over 50 man years to know.

    Much worse, this INDIAN malay president selected by pap does not know where sinkie monies are going but just blidly signs whatever pap presents to her.

    We have never voted any pap choices whenever we get to vote. Because we know pap lies every time pap says sinkies need to pay more in order for pap to help sinkies more.

    sinkies one day, when they wake up, shall thank us because we exist to lower pap vote count at the polls so that pap works harder and lies less hard.

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  • SINGAROAR:

    only stupid people vote pap
    Not lower PAP vote count but to only vote in 10 PAP MPs. All they need is 50.1% and they will continue to rule in the same way.LHL has already said that a majority win means the people have given him the right to do as he pleases. 61% voted for the PAP,is there any change in governance?They have not reduced their salaries even in a pandemic.The cabinet is bloated and we are funding it This includes the Mayors’ salaries.Population increase is still continuing.Many who are given citizenships have the same job skills as us.This has caused wages to be reduced and many have to work at two jobs to survive.The social net for our elderly is inadequate.Our forests are being removed to house foreigners.Please do not think that if you give them a lower % anything will change.It is not.We will remain the ATMs of the PAP.It will be a painful life sentence on Singaporeans.

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  • Just Saying:

    Friendshoring Babylon to kill off small businesses to prop up oligarchs.

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  • xoxo:

    Can the PAP MPs do proper CHECKS N BALANCE The answer is no.
    So,who can furnish it?
    Good oppo MPs.
    Vote in good oppo MPs like Dr TCB,DR Chee,Prof Paul,Dr Ang,Lim Tean,KJ n others who can be not just our voices but who can afford us truer checks n balance of govt.

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  • The daft sinkie poor:

    Lee Hsien Yang:
    They say believe us when we say any public spending beyond these fiscal rules means drawing on the past reserves, which leaves behind less for the next generation.

    Do we have a next generation? Look at the TFR. The next generation only benefits FTs and new citizen. The old native sinkies are made to pay for the survival of the next generation FTs and new citizens.

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  • The daft sinkie poor:

    Lee Hsien Yang:
    They say believe us when we say any public spending beyond these fiscal rules means drawing on the past reserves, which leaves behind less for the next generation.

    Do we have a next generation? Look at the TFR. The next generation only benefits FTs and new citizen. The old native sinkies are made to pay for the survival of the next generation FTs and new citizens

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  • li bloodline of illuminati:

    Do we have a next generation? Look at the TFR. The next generation only benefits FTs and new citizen. The old native sinkies are made to pay for the survival of the next generation FTs and new citizens

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  • MarBowling:

    “During GE2015 when GST stood at 7%, PM Lee said: “What would make you need to raise GST? Profligate spending and irresponsible, unsustainable plans.” Unquote!

    Response: That farking remarks was made by Mai Hum 7 LOONG years ago! Since then, his so-called talented Wifey Holee Jinx is RUINING oops RUNNING the Damn Show, period! He has TOTALLY LOST CONTROL over shim, period! When to step down from Tombmasek Holdings(previously under shim armpit but NOW under shim THUMB)and then kick shimself upstairs to become Chairman of Tombmasek Trust, is ALL SHIM DECISION. Useless BUM Mai Hum has NO SAY or DARE TO RAISE ANY OBJECTION!

    Same as the RECKLESS and IMPULSIVE Holee investment of hundreds of $millions in the FTX fiasco. Anyway, shim has CONFIDENTLY bragged that shim has NO REGRETS when shim indulges in anything under the SUN!

    Same as when shim sent in shim RANSACKING team to RANSACK and dug up purportedly National Treasure and stuffs hidden at the BASEMENT of shim FIL’s house at 38 Oxtail Road! Shim SIL, Dr LWL was very upset with shim almighty high-handed behavior!

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  • opposition dude:

    Ha ha ha good one there Hsien Yang, who trusts your brother’s party indeed? At the moment 60% of kiasees do so let’s see if this percentage goes down by much in the next election.

    PAP loves saying that there must be trust between the people and the government time and again but these are just mere words to be uttered and forgotten. The level of trust has definitely fallen what with PAP’s evasive answers on questions posed by the opposition in parliament. When you avoid answering questions how do you expect people to trust you hmm? Just because you say there must be trust between the people and government doesn’t mean shit you know.

    PAP has forgotten that trust needs to be earned and not just gotten because they say so. Let’s see just how much trust they get when the next election is called, with the way they are losing GRCs it won’t surprise no one when they lose a few more.

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  • APA:

    Both are fruit of the same tree.

    One upset over big brother not following daddy’s wishes
    The other upset that small brother cant keep quiet & follow the people.

    Both are not interested in the people except to use as proxy.

    Both should go and die.

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  • Soccerbetting2:

    Why the opposition MP need to be blame ? Blame for what ?Blame the opposition MP in Parliament for not speaking up and demand Lee Hsien Loong and his government to commit that this will be the last time GST will be raised and no more raising of GST for the next 20 years ! Show Lee Hsien Loong that the government overcollected too much money from ERP,all sorts of taxes,levies,….and there is no shortage of money funds and no necessity to raise GST had the government been prudent and not overspend and build white elephant projects! Look at the extreme large printed banners of MP faces everywhere show funds are not prudently spent !Look at Yeo Wan Ling changing the large printed banners that easily cost over estimated $5000 or whatever.First she has the “woman support woman” banner,then the Deepavali banner and now is displaying her christmas banner!!!!She doesn’t know that she can use those LCD outside all HDB lift ground level to display her message to resident free of charge and no need to print banner meh ? Why waste money on white elephant printed expensive banners ?Really few really bothers to look at the banners !Waste money !So it is opposition duty to get Lee Hsien Loong to commit to no more GST increase after this final round ! Only by Lee Hsien Loong commitment,then all of us will be saved in future from GST increase !Get him to sign black and white !

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  • Spoilt brat that parachuted in:

    Come GE2024 Loongi Boy better not ask for a stronger mandate.
    Why? must he get a strong mandate then only he and his minions will do their jobs properly is it?
    So no wonder our sg has been going downhill..
    Loongi Boy throwing tantrums , dont wanna play till he gets a bigger lollipop..???
    Go to hell.

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  • Stupid Singaporeans Vote PAP:

    If stupid Sinkies are willing to live in the dark accept all their nonsense, non-transparency & don’t have the brain to think for their children & future generations, why blame PAP & Mai Hum?

    You repeatedly & officially invite a thief to your house, you are the problem. And you pay the thief to come to your house to steal from you, Singaporean dat boleh lah.

    Go blame the stupid Singaporeans, not PAP & Mai Hum.

    One sentence sum it up – Stupid Singaporeans Vote PAP!

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  • Delay lah:

    Better to delay another 6 months.
    Economy does not look good.
    Mo need to burden the poor people further.

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  • knn:

    We need a stronger mandate so that we can raise GST.

    We need your confirmation that you support the raising of GST.

    So vote for us for more good years.

    Believe us, GST is good for you, to help the poor.

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  • xoxo:

    What is the REAL TAX BURDEN OF COMMON sgs?
    G$T on top of LEVIES,SURCHARGES N WHATNOT$!
    Could some whizkid impute the exact *tax incidence*?
    Stop the *flim$ical* spendings.
    They do not add real value to common sgs but only load us with unwarranted tax burden.
    Time for hou$e-keeping.

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  • yawns:

    At the end of the day, they are still getting away with it.

    At the end of the day, despite incompetence and lopsided laws to protect their ass, they are still getting away with it.

    At the end of the day, even if the govt change today, these same group of people still control the financial and legal aspect of SG. They are still getting away with it.

    So vote oppie as required, stir the fire of change all around, but it will a solid 20-30 years before anything significant can be enjoyed by the change enactors.

    Most importantly, at the end of the day, they are still getting away with it.

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  • Singaporeans R Free Riders:

    APA:
    Both are fruit of the same tree.

    One upset over big brother not following daddy’s wishes
    The other upset that small brother cant keep quiet & follow the people.

    Both are not interested in the people except to use as proxy.

    Both should go and die.

    Bro, I agreed with you on this part, ie. small brother is making use of opposition supporters as proxy aka canon fodders.

    I can see many stopid Oppie are falling for the line.

    You are the smarter one.

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  • Singaporeans R Free Riders:

    To 8000+ readers,
    This is the consequence of voting in Opposition who are liars (think Raeesah) and fake Phd qualification.

    You will lost your jobs forever.

    tsmc is finished. Now it’s officially belong to Americunt.
    No more Made In Taiwan. It is Made in Americunt now.
    https://bit.ly/3Fyokny

    Worst, the taiwanese chip engineer salary in Arizona plant is lower than local Americunt.
    TSMC扎根美國!拜登自爆內幕!
    https://bit.ly/3HzzwlB

    And the taiwanese are training the Americunt. This is double whammy.

    Watch the hard truth video.

    Don’t say I never warn you.

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  • Big Money:

    Yes, it is irresponsible spending n losses. Lost some US$275 million in crypto xchange.

    Profiligate spending yes $20 million by inviting fat boy of Communist Korea to Sg.

    And off course the water ponding miniSTIR who profiligate expenses at the building of the National Stadium and the recent award of millions of dollars to sports hub operators.

    And last but NOT LEAST the award of tax monies to the MSM big money!

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  • MarBowling:

    knn:
    December 7, 2022 at 4:46 pm (Quote)
    We need a stronger mandate so that we can raise GST.

    We need your confirmation that you support the raising of GST.

    So vote for us for more good years.

    Believe us, GST is good for you, to help the poor.

    Response: Good One! Always REMEMBER ex-PeeM Woody CHOKing Tong’s PROMISE: MORE GOOD YEARS! And of course Mai Hum’s utterance: For You, With You and FARK YOU!

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  • Soccerbetting2:

    Watch this Tik Tok -”https://vt.tiktok.com/ZS8LhXgqB/”
    Each unit HDB development cost is $396,000.Got so high meh ?

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  • Temusik Patriot:

    PAY & PAY so loong as they STAY & STAY…

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  • Pinball:

    Actually if I ever hear or introduced to a person surname Lee, I feel worried!

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  • Soccerbetting2:

    Singaporeans continue paying ?You all know what is wrong with Singapore nowadays?Even polyclinic now want everything to pay by card and everything going to go cashless soon and to be paid by card or apps like paynow or whatever.You know,even ICA expect people to pay by Visa ,…or card if you change your NRIC at 55 years old.And the charge of $10 which is consider subsidised fee you have to pay!Unless,you have no card,then no choice,the ICA then accept cash $10 from you.And what a joke that everyone still has to pay them $10 to make the NRIC.Aren’t we born here and had serve our National Service,shouldn’t change NRIC be free and not charge us even $10? Coming soon ,will be all cashless payment where all the paper currency may no longer be accepted unless no choice.If you have no ATM card next time,how to pay when system is all cashless and use card only.If you are partial blind one day by sickness,really that is another problem when system totally go cashless one day.Can you clearly see what number to keyed and don’t see wrongly and keyed in more zero with your card !Pui! Evil women beast backside really getting more and more greedy!

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  • The daft sinkie poor:

    Soccerbetting2:
    Singaporeans continue paying ?You all know what is wrong with Singapore nowadays?Even polyclinic now want everything to pay by card and everything going to go cashless soon and to be paid by card or apps like paynow or whatever.You know,even ICA expect people to pay by Visa ,…or card if you change your NRIC at 55 years old.And the charge of $10 which is consider subsidised fee you have to pay!Unless,you have no card,then no choice,the ICA then accept cash $10 from you.And what a joke that everyone still has to pay them $10 to make the NRIC.Aren’t we born here and had serve our National Service,shouldn’t change NRIC be free and not charge us even $10? Coming soon ,will be all cashless payment where all the paper currency may no longer be accepted unless no choice.If you have no ATM card next time,how to pay when system is all cashless and use card only.If you are partial blind one day by sickness,really that is another problem when system totally go cashless one day.Can you clearly see what number to keyed and don’t see wrongly and keyed in more zero with your card !Pui! Evil women b**** backside really getting more and more greedy!

    U vote in a party that still follows colonial mindset this is what u get. The ruling party is nothing just an extension of colonial rule

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  • Burden:

    Don’t burden the people further,especially the private sector and the poor.
    Not everybody has a iron rice bowl and good bonus like the Civil servants and GLC…

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  • Soccerbetting2:

    Reported on the TISG :Quote-”Charging for water, therefore, serves a twofold purpose, as explained by the coffee shop owners.

    One Serangoon coffee shop owner Mr Zhang, 60, responded to an online post from a customer who was charged 50 cents for a glass of water. The coffee shop owner told Shin Min Daily News that he used to charge 40 cents for water but has raised the price lately due to today’s high electric and water tariffs, adding that workers’ salaries also need to be paid.

    Shin Min Daily News also heard from other coffee shop owners that some people take advantage of free water. “These people buy boiled water and brew their own tea, then occupy seats for hours, leaving no seats for other customers. It’s affecting our business,” Ms Li, a coffee shop owner, told the Chinese-language daily.”Unquote.

    Response :Singaporeans really continue more and more ridiculous prices for a cup of hot water at coffeeshop or kopitiam ! It is precisely that Lee Hsien Loong whole government especially Grace Fu,the Minister of Substainability ,are not functioning right .Some places like Orchard even selling a cup of hot water for $0.60 ? And why the government with billions of reserves cannot do more and just rent a small corner in any private kopitiam or hawker centre and setup a hot water system there.One off hot water filtered equipment cost won’t cost much at all with government collecting billions in GST alone.Whoever need hot water,just go to the hot water system with their bring their own cup and tap $0.10 with their EZ-Link card and hot water flows out to their personal cup.Want coffee,or tea ownself bring their packet and use.Later pay another $0.10 for water to wash their cup at the Kopitiam.Government cannot supply needy people with hot water at kopitiam when government has billions ? Better check how many of these kopitiams are owned by Grace F,Amy Khor Lean Suan,Saw Phaik Hwa,Lee Bee Hwa,….and their women cronies !Check is a proper procedure ! Nothing wrong with checking ! If there is a solution that is given to Lee Hsien Loong government that can be used,one should ask why Lee Hsien Loong does not see it right to implement cost saving system to its citizens ? And by having an additional filtered hot water system install in all private kopitiam especially at Punggol long queue hawker centre,it reduces queuing time for hot beverage and long queues buying coffee shortened and spread of covid reduces from long queues !Time is money ,Lee Hsien Loong government need to implement system that saves time and cost to its citizens effectively and this saving of time will produce more productivity in other areas ! You all know hawker centre easily sell few thousands drink,tea,coffee per day.Say 2000 per day of coffee at $1 each,multiply to be $60000 revenue per month basis ! Better check who owns all the hawker centre drink stall !Pui !

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  • Trust only myself:

    Nothing much will change……..60% is about the magic figure that will believe the liars.
    The winning formula already built into the systems…….

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  • TRex:

    This is what happens when we preselected a tudung puppet as president.

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  • TRex:

    When we allowed a single party to rule the country for over half a century, I question how things are being done. PAPigs have a completely transparent track record at suppressing and choking democracy. They have never had a track record at enabling democracy.

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  • xoxo:

    Mr Lee is more than right to make this observation.
    Recently,i was appalled by Indrana Rajah’s comment that FOREIGNERS ALSO CONTRIBUTE TO OUR RESERVES.
    Such blatant jibe and other similar jibes at our own fellow sgs are not just condescending but exhibits grave ingratitude to the sacrifices(austerity) and hard labour of all sgs,past n present,young and old.

    It is not that i am in dispute with Ms Rahah’s arrogantly communicated statement but her display of injustice and biasness.
    Worst of all,her blatant lack of real understanding of SOCIAL COSTS N SOCIAL BENEFITS.
    WHY?
    Yes,foreigners come here and somehow contribute directly or indirectly to our accumulation of reserves.
    But the point is,even the top FTs come here and make a GOOD LIVING and ENJOY OUR INFRA-STRUCTURES BUILT OVER DECADES WITH sgs’ efforts and sacrifices(taxes,etc).

    Even our conducive public safety n security did not happen OVER-NIGHT???
    Thats why calling sgs xenophobic is not only wrong but a smack on our national graciousness that is among the BEST IN THE WORLD,WHICH MINISTERS CAN HONESTLY SAY NOT?
    EVEN THE WELL-TRAVELLED MUST ADMIT?

    OUR RESERVES ARE MAINLY BUILT BY us,SINGAPORE CITIZENS,no debate on that even if one is a lawyer of great standing.
    Many FTs benefitted too by buying our HDBs,for example,only to sell and reap huve gain$?
    Who suffer in the end by such rampant $PECULATION$?WHO?

    And,to add insult,our G raided $100 Billion of our precious reserves(which LKY said must only be used for sgs in times pf NEED) and grant MANY NEEDY N DESERVING sgs a paltry sum of $600 when even many FTs holding high-salaried jobs got manifolds more,even INTRA-COMPANY TRANFEREES WHO HAVE NOT PAID ANY INCOME TAXES at the time of such GENEROUS GRANT$???

    IS THIS BALANCING SOCIAL COSTS TO SOCIAL BENEFITS FOR FOREIGNERS HERE?
    Or,are such GOVT ACTIONS MISBALANCING SOCIAL BENEFITS WITH THE SOCIAL COSTS CONTRIBUTED BY sgs?

    What exactly is the PROPORTION OF RESERVES CONTRIBUTED BY *FOREIGNERS* .
    DONT FORGET FOREIGNERS MAKE MONEY VIA WAGES,CAPITAL GAINS,ETC N LEAVE SG BY AND BY.
    SO,WHAT IS THEIR NETT BALANCE OF SOCIAL COST TO SOCIAL BENEFIT in truth?

    Ms Rajah,you are a disappointment.
    Its better you stick to doing law.
    Anf,even that,hope you protect the weak…
    Merry n Holy Christmas.

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  • anne:

    xoxo,thanks for speaking out.
    Exactly my sentiments.

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  • KNN:

    I am working for Gov Cloud Project.
    Yet all those I am working with in Gov and vendors are all immigrants.
    Obviously Gov do not know how to groom local talents to handle our IT jobs.
    Now they farking immigrants is asking me to work on Cloud platform, but
    do not give me LOG in account, neither DOes the IMMIGRANTS interested to document anything they know.
    Good luck to the CCB GOV. Once into production, when all the bugs starts to flag, all your INVESTMENT will go to WASTE. FBI. KNNCCB!! PAP and its bunch of IDIOTS!

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  • For Seo:

    I love what you guys are usually up too. This kind of clever work and coverage! Keep up the good works guys I’ve included you guys to blogroll.

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  • Auntie Gong Gong:

    There was this auntie at Clementi interchange who kept calling herself stupid for not knowing how to redeem CDC voucher.

    These IB so old still want to self abuse for teir masters. Stupiak xiao ren and xia liu

    Singaporeans R Free Riders:
    To 8000+ readers,
    This is the consequence of voting in Opposition who are liars (think Raeesah) and fake Phd qualification.

    You will lost your jobs forever.

    tsmc is finished. Now it’s officially belong to Americunt.
    No more Made In Taiwan. It is Made in Americunt now.
    https://bit.ly/3Fyokny

    Worst, the taiwanese chip engineer salary in Arizona plant is lower than local Americunt.
    TSMC扎根美國!拜登自爆內幕!
    https://bit.ly/3HzzwlB

    And the taiwanese are training the Americunt. This is double whammy.

    Watch the hard truth video.

    Don’t say I never warn you.

    GD Star Rating
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