Put out the fire, not fuel it
June’s inflation figures has just been released. Overall inflation or Consumer Price Index came in at 6.7% year on year. This is an all-time high since 2008. All categories across the board saw price increases - from food, retail goods and utilities to transportation and accommodation. And the bad news is prices are expected...
Worst timed GST increase our policy makers could possibly make
Given current high inflation trends,this has to be the least needed, worst timed GST increase our policy makers could possibly make. First we have a structural fiscal surplus of around $30 bn ++ while the GST increase will raise $ 3bn ++ revenue; so this 2% GST increase is currently arithmetically completely unnecessary. Second,...
Prognosis Of The Singapore Economy
As I predicted there’s been a sharp slowdown. State media is of course deliberately misleading only quoting the year-on-year figure when month-on-month output fell by 8.5%. Manufacturing employs relatively few Singaporeans and the semiconductor and biomedical sectors even fewer while the latter pay almost no tax and receive...
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