Nothing political. I hate politics and I cannot understand much about it even if I tried. The Goods and Services Tax - GST, is going up by 2% to 7%.
This decision was made to benefit the lower income group as it is suppose to facilitate increased spending to "strengthen the safety nets and tilt the balance in favour of the lower-income groups who do not benefit from the fruits of economic growth."
I honestly hope so.
When it will be implemented will be announced on 15 February 2007 during Budget Day. More of this report at Channel News Asia website.
For now and until what is being promised can be seen, Yahoo Singapore is holding a "fun poll" on this GST increase, "feeling" the people's take on who will best reap the benefit of this policy. The result is astoundingly... not surprising.Since I am no-expert in politics, and can hardly balance my finances properly for my own home economics, I will just have to brace myself and leave it to the experts to do their job as promised.
Yeah, yeah, I know I am flaky and kind of "Magoo" of sorts... I can not see what is in front of me that well... bad combination. How have I survived all this time?
Hmm... wonder if I need to buy anything expensive before the GST hike?
I really laughed out loud when I looked at the poll! :) Made me feel at home. It's the same in the U.S.
ReplyDeleteLooks like the people figured that out, though. I'm not sure if the people here have. :)
Imran - Sorry about the taxes. I hope it doesn't hurt the economy too much.
ReplyDeleteThanks for your encouragement on my blog. I'm up to four minutes now, that shouldn't be too bad.