Budget 2018: Same Old Cliches As Heng Makes Your Money Vanish in the Uniquely Singaporean Version of the Shell Game
Budget time and my first thought was that I had stepped into a time machine and been transported back to last year’s Budget. In fact the same could be said about any of the Budgets over the last five years. The Government could save a lot of money by eliminating the need for a Finance Minister. Instead they could just replay...
Heng says budget surplus is $9.6b but IMF says $78.5b – financed by heavy borrowings in housing
It was announced in Parliament today (19 Feb) that as the Government has accumulated a budget surplus of almost S$10 billion for FY2017, all Singaporeans aged 21 and above this year will get a one-off SG Bonus of between $100 to 300 each. Finance Minister Heng Swee Keat said that this "reflects the Government’s long-standing...
Budget: Consistently flawed
[Update at 5.25pm: Trumpets please] My prediction that GST increase would be announced but delayed is correct: Heng announced GST increase of 2% from 7% to 9% to “fund recurring government expenses”. Increase will take place between 2021 and 2025 in a progressive manner. Handouts of GST vouchers will be made permanent once...
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