freethinker wrote:
perceivably one majorreason the govt do not want these nett profits
to be included into its revenue budget - is that at certain years,
the govt can say its spending more than it receives ie "deficit" as
shown in a couple of yrs ago - but technicallythere were never a
budget deficit of between $1 to $2 billion - as these income
sources are not factored in. Its likely more as a "case" to the
people that "oh see, we are in a deficit bec of social n
infrastructure works etc" and as a reason to increase its revenue
to "balance" the budget as like in raising the GST etc and other of
its fees. The govt in fact will get more revenue plus; when the IRs
is up do to its heavy gaming tax and as well as other entertainment
taxes and even F&B excess charges/tax.
No matter what the government says, as the reason for not
reflecting the profits from land sales and HDB flat sales etc, it
is not a satisfactory or objective way of presenting
accounts.
It is especially unsatisfactory where the government keeps making
claims that it has incurred deficits in certain years and need to
raise taxes and GST to cover shortfalls or avoid welfarism.
This kind of governance is not accountable or transparent at all.
So how could government expect private companies to be more
accountable or transparent if it could not lead with example.
No wonder Durai of NKF was bent on suing the whistle blowers over
allegations about its practising of creative accounts until the
golden tap incident tilted the balance.
This kind of governance also shows that the government is not
always right and as such the government should learn how to govern
the country with humility and not keep harping on its talents or
governing wisdom of which it may not have that much.