Author: atans1
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PM Lee in his New Year message on Dec 31 said that with the economy emerging from the Covid-19 crisis, the Government has to “start moving” on the planned increase in the GST. We now know GDP was up 7.2% last year.
BUT
As the above illustrate, strong GDP growth does not mean that everyone benefits by having higher wages. Some benefit more than others, many don’t benefit.
But then, one doesn’t expect a cabinet of millionaires to understand the problems many S’poreans face. Ordinary S’poreans are what Goh Chok Tong sneeringly called “mediocrities”. Millionaire cabinet ministers are his ideal “non-mediocrities”.
(Btw, last year I wrote that PM would say that GST would rise in 2022: Chiat lat! Wah lan GST going up in 2022. But fyi, I still stand by my views in 2020 that there’ll be no GST rise until after next GE: Why there’ll be no GST rise until after next GE and Double confirm, no GST rise until after next GE. I don’t think economic growth will justify taking the PAP govt taking the risk. Lawrence Wong will caveat a 2023 rise with a lot of “ifs” and “buts”, allowing him to avoid a rise.)
So if S’poreans don’t want a GST rise in 2023, just pray to the Eighth Immortal for GDP growth this year of below 3% this year (MTI’s prediction is “3.0 to 5.0 per cent” in 2022.)
