Originally posted by rayman
No one really knows for sure, at this moment, whether the GST raise is a smart enough move or not.
At a macro level, the govt claims the lowered tax rate will encourage investors to place interest in Singapore. Will it really? No one can tell right now, can we?
What I do know is that GST in Singapore is much lower than that of other countries. Look at countries like Aus (10%), Western Europe (17%) etc. I won't want to pay taxes like that.
Anyway, there was a report recently on how the HK govt is digging into its national coffers to tide over this crisis. It'll take them a few years to finish off what they've accumulated over that past decades if they continue to spend this way. Let's hope we will not end up like that.