http://statestimesreview.com/2015/09/14/economic-research-pap-will-increase-gst-to-raise-more-revenue/
Economic Research: PAP will increase GST to raise more
revenue
International economic research company BMI research concluded in
its report that the Singapore PAP government will raise GST in
order to raise more revenue for its populist policies today (Sep
14).
“One key area to watch will be the goods and services tax (GST),
which has been utilised by the government as a tool to shore up
revenue amid declining income and corporate tax rates over the past
two decades. While the recent increase in the top marginal income
tax rate will provide some support to the government’s annual
intake, Singapore’s ageing population and the government’s growing
commitment towards supporting low-income elderly citizens will
likely necessitate additional revenue streams, and an increment to
the current GST level of 7.0% is a prime candidate for
adjustment”
Photo of GST payout from CNA
Raising the GST will inevidently increase the amount of taxes
on the low income and unemployed. When GST was increased multiple
times from 2003, Singapore saw rapid inflation and a jump in cost
of living. The PAP government however claimed that poor people are
helped by increasing GST because of GST cash vouchers.