Singapore’s PM Wong clashes with Pritam Singh over GST hike – ‘poor marksmanship’
Singapore's Prime Minister Lawrence Wong defended the Goods and Services Tax (GST) hikes, stating they were not the primary driver of inflation. He attributed rising prices to global factors like wars, supply chain disruptions, and increased energy costs, countering opposition claims that the GST increases had "turbocharged" inflation.
Wong emphasized that prices were already rising globally and in Singapore before the GST increase, which was implemented in two stages over the past two years, raising the GST from 7% to 9%. He also noted that the central bank assessed the GST's inflationary impact as temporary. His comments came during the budget wrap-up speech, addressing questions about the GST hike's timing and support for workers and businesses, ahead of the upcoming general election.
via SCMP Full Text Feed
Singapore's Prime Minister Lawrence Wong defended the Goods and Services Tax (GST) hikes, stating they were not the primary driver of inflation. He attributed rising prices to global factors like wars, supply chain disruptions, and increased energy costs, countering opposition claims that the GST increases had "turbocharged" inflation.
Wong emphasized that prices were already rising globally and in Singapore before the GST increase, which was implemented in two stages over the past two years, raising the GST from 7% to 9%. He also noted that the central bank assessed the GST's inflationary impact as temporary. His comments came during the budget wrap-up speech, addressing questions about the GST hike's timing and support for workers and businesses, ahead of the upcoming general election.
via SCMP Full Text Feed
