atans1

See who’s telling govt to control healthcare costs/ What we be should be KPKBing about

In Economy, Public Administration on 25/01/2018 at 11:08 am

This guy from DBS has the right idea: govt should control costs of households esp in healthcare

Controlling costs for households, especially healthcare costs, would also help moderate government spending on subsidies and rebates.

DBS senior economist Irvin Seah says: “No matter how much we increase healthcare subsidies, it will never be enough if costs are not kept in check.”

The cost of healthcare has been rising inexorably. Between 2011 and 2016, Singapore’s average annual healthcare inflation rate was 2.4 per cent, compared to an average of 1.6 per cent among developed countries.

“There is an urgent need to review the current cost structure of the healthcare system,” Mr Seah adds.

ST: Do taxes in Singapore really need to go up?

Thw point about keeping costs down was also made last week in a letter published in ST. Getting the PAP administration to keep down costs is what S’poreans should be KPKBing about.

But the letter writer is wrong about there being no free lunch available. Think of the reserves, especially the returns. It’s billions of lunches being hoarded.

Chris K posted on FB

 Heartening. Despite the govie jawboning about increase in taxes and trying its damnest not to talk about the other way to meet higher expenditures, tapping more earnings from the reserves, 40% preferred tapping the reserves versus 34% favouring tax increases.

He was referring to the IPS study highlighted in http://www.todayonline.com/singapore/most-singaporeans-believe-family-and-government-should-take-care-elderly-poll

To sum up: S’poreans should demand that the PAP administration strive to keep costs down while spending more of the income from the reserves on S’poreans. Jam today: Welfare: Jam to-morrow and jam yesterday – but never jam today.

And we should also KPKB that the PAP’s definition of budget deficit is not one used by IMF and Western countries. For starters, it excludes land sales only half of the returns from the reserves is included, so the last sentence in this piece is a lot of rubbish.

Credit Suisse economist Michael Wan predicted that annual government spending will rise by a further 1.7 per cent to 2.8 per cent of gross domestic product (GDP) by 2025, driven by infrastructure projects, higher social expenditure, and measures to transform the economy. If the Government does not raise its revenue, it could run into a deficit of between 0.3 per cent and 1.4 per cent of GDP by that year.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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  1. What they say is of course correct, just as it’s correct that u make money by buying low selling high

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