GST, Inflation and our constructive, nation-building MSM/ No GST rise IMHO

At the very end of very long article on MAS’s surprise action to contain inflation, this appeared:

All eyes will also fall on what higher inflation will mean for the planned increase in Goods and Services Tax (GST).

Prime Minister Lee Hsien Loong has said that the Government will have to start moving on the planned GST increase in Budget 2022 given that the economy is emerging from the pandemic.

Economists from Moody’s Analytics said the latest inflation reading “throws a spanner” into these plans.

“The GST is widely expected to be raised by 2023 at the latest in order for the Government to balance its budget sheet,” said Asia-Pacific economists Denise Cheok and Shahana Mukherjee in a report issued after MAS’ policy decision.

“With prices already rising at record speed, the timing of a GST hike will need to be carefully considered.”

https://www.channelnewsasia.com/business/mas-tighten-monetary-policy-cycle-what-it-means-singaporeans-2457641

Any half-decent Western media report would not tuck this gem at the end of an article entitled “MAS tightens monetary policy in surprise off-cycle move: Why and what it means for you and me“. It would feature in a more prominent spot.

But then this is Harry Lee’s constructive, nation-building media in action: “hide” inconvenient facts and opinions in the middle or at the end of articles. I didn’t make this up: this is in local editors’ unofficial style guide.

Here’s another recent example: GST: A very brave local academic.

Related posts:

What PM doesn’t understand about GDP and GST

GST: A very brave local academic

And remember you read the following here first.

Last year I wrote that PM would say that GST would rise in 2022: Chiat lat! Wah lan GST going up in 2022. Seriously, 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 didn’t think economic growth will justify taking the PAP govt taking the risk. Alternatively, I now think fanning inflation ever higher will cause a rethink, if economic growth is strong

Lawrence Wong will caveat a January 2023 rise with a lot of “ifs” and “buts”, allowing him to avoid a rise when the time comes.

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