atans1

Why our millionaire PAP ministers not afraid to raise GST despite rising inflation

In Economy on 29/12/2022 at 5:32 am

Only 33% (7+26) of S’poreans think inflation is a major or serious problem.

Seriously, what surprises me that so many people in Asean are so relaxed about inflation (Number3).

  1. The trick is that majority of working people are getting salary increments that mitigate a lot of their everyday inflation. It will become a problem if things deteriorate into stagflation & lots of people start getting retrenched/fired.

    As it is, things are still ok for the employed. Those unemployed or retired are sucking balls, unless their passive income/pensions/etc can keep up.

  2. u sure u read chart correctly? 5-1 major problem-no problem, so 4 is somewhat major problem, 3 is moderate problem, 2 is minor problem, so 93% see problem, 33% see significant problem

    1% increase (next year 1% more so 2% cumulative tax increase), while unlikely to stress household budgets due to the assistance package to less well off people, does fee thru the supply chain over time, but the major contributions to higher price is hot money from overseas bringing up house & car prices, which then feed thru the supply chain with higher rents, transport cost & so on; govt is betting the other causes r more visible to the public

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