atans1

Budget 2015: The real reason sin and petrol taxes raised

In Economy on 02/03/2015 at 11:51 am

Govt wants higher inflation.

— Singapore’s consumer price index fell 0.4 percent year-on-year in January, its biggest decline since December 2009. Core inflation in January was 1 percent, the weakest since March 2010. (Reuters)
Singapore’s headline inflation rate fell into negative territory in both November and December, leading to Q4 2014 inflation of -0.1 per cent.

For all of 2014, consumer price inflation fell to 1 per cent from 2.4 per cent in 2013, as housing and car prices eased.

– Core inflation – which excludes accommodation and private transport costs – rose to 1.9 per cent in 2014, from 1.7 per cent in 2013. But this too, has eased in recent months.

– In 2015, the authorities expect headline inflation and core inflation to ease further due to low global oil prices. Also, businesses’ ability to pass on higher wage costs to consumers may be constrained by slow growth, the Monetary Authority of Singapore (MAS) said.

– See more at: http://business.asiaone.com/news/snapshot-the-singapore-economy#sthash.ey1FvGyA.dpuf
[B]road and persistent deflation is not a healthy thing for a modern economy. It will make big debts harder for households and governments to repay. Think of the mortgages and the monies owing to CPF account holders if there is deflation.

A more effective way is to increase GST rates.  And GST rises are coming soon say a tax expert, constructive, nation-building MediaCorp and junior minister for finance Jos Teo. We must ask loudly and at every appropriate opportunity :“After GE, will the PAP administration raise GST rates and by how much?”

The answer, we should want to hear is what Tharman said in 2011 about future GST rises:“As Finance Minister, I have made that very clear in Parliament that at least for the next five years – it does not mean we will raise it in five years’ time – but at least for five years, there is absolutely no reason to raise the GST, because this was the whole idea – we strengthen our revenue base in time. (CNA)

https://atans1.wordpress.com/2015/02/25/budget-ask-in-a-very-loud-voice/

 

Advertisements
  1. Sinkies are still dumb & prefer to be dumb. But after a critical point, even dumbass Sinkies will start questioning what advantage S’pore’s tax /levy/ fee /CPF system has compared to western tax systems. Sinkies will yell loudly what’s in it for me in return for 50++ years of slogging and paying to the govt.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: