Originally posted by Cindyfeh:
Fact
one:
http://www.parliament.gov.sg/reports/public/hansard/full/20060228/20060228_HR.html
" I note that GST revenue has gone up significantly from a stable
$2.1 billion in the three years from Financial Year 2000 to 2002
and jumped up to [b]$3.5 billion in Financial
Year 2004. " Anyone has the GST revenue figure for
FY 2005?
Fact two:
GST will increased by 40% - Take the 2% increase divided by the
current 5%
Fact three:
According to the media, PM says the increase in GST is to provide
support for the poor.
Conclusion of the 3
facts:
Fact 1 + 2: Increase of 40% of GST will result in $1.4 BILLION more
GST that will be collected yearly.
i.e. $1.4 BILLION = $3.5 BILLION x 40%
Add in Fact 3:
Gov has under-provided for the
poor by $1.4 BILLION yearly?????
Does this need for extra $1.4 BILLION arise because we are less
willing to donate due to the NKF saga and the gov has now need to
"encourage" us to donate?
While i am glad that the Gov is trying to do more for the poor, I
hope to see a more detailed briefing on how the extra $1.4 BILLION
is to be utilised.
[/b]
I hope LHL will keep his words and do it genuinely in helping
the low income earners!!!
I'll just wait and see what will be the out come.
