GST to Rise to 7%

SINGAPORE: The Goods and Services Tax will be increased to 7 percent from 5 percent presently. This was announced by Prime Minister Lee Hsien Loong in Parliament on Monday. However, when the rise will be implemented, will be decided later....

Source: http://www.channelnewsasia.com/stories/singaporelocalnews/view/241058/1/.html

Yet another round of price increases coming soon when our pay packages have not been increasing....

Already, there are people complaining in online forums that once the General Elections are over, price increases are coming our way. While I appreciate that there will be inflation, GST is a tax and this increase is of 7% actually a 40% increase from the original 5%... What offsetting measures will there be? I am looking forward to the details when the next Budget is delivered...

I wonder if Singaporeans are going to be forgetful when the next election comes, this is definitely going to be a topic that will be picked up for debate....

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