Originally posted by HyperFocal:
Govt earned $990m extra from GST
hike
Lynn Lee
Tue, Jan 22, 2008
The Straits Times
THE Government earned an extra $990 million last year from the
two-percentage point hike in Goods and Services tax.
The bulk, $540 million, came from local consumer
spending, while the remainder was from foreigners.
A large portion of the collection went back to Singaporeans.
They received a total of $630 million in cash, to
offset the GST increase to 7 per cent in July
2007.
With other measures like utility rebates, to help people adjust to
paying more GST, the Government will spend $1.17 billion by the end
of fiscal year 2007 on Mar 31 this year.
Read the full story in Wednesday's edition of The Straits
Times.
Note that they collected $540 million from locals, in a matter
of less than 1/2 a year
& they gave $630million to offset, a one off
amount.
Think what this means for long term 
10 years: $540 x 20 - 630 = 10 800 - 630 = $101 700 million
(from locals)
Give some insignificant sweets, so that they can collect real
'peanuts' long term. 
