Budget 2023 debate: Xie Yao Quan on cost of living in Singapore
Cost of living is a “clear and present concern” for Singaporeans, but the Goods and Services Tax (GST) should not be made a straw man or convenient scapegoat for high prices, said MP Xie Yao Quan in Parliament on Wednesday (Feb 22). He noted that the GST hike comes at a time when Singapore’s growth outlook is troubled and inflation is high. Mr Xie suggested studying household expenditure by “household archetypes” to better understand and address specific cost-of-living pressures. He gave the example of the “sandwiched” group of adults in their 30s to 50s who have school-going children as well as parents above the age of 60, and called for more support for them. He proposed that each child get a “Child Development Bonus” in cash, every year, and that seniors be given more healthcare subsidies.
Cost of living is a “clear and present concern” for Singaporeans, but the Goods and Services Tax (GST) should not be made a straw man or convenient scapegoat for high prices, said MP Xie Yao Quan in Parliament on Wednesday (Feb 22). He noted that the GST hike comes at a time when Singapore’s growth outlook is troubled and inflation is high. Mr Xie suggested studying household expenditure by “household archetypes” to better understand and address specific cost-of-living pressures. He gave the example of the “sandwiched” group of adults in their 30s to 50s who have school-going children as well as parents above the age of 60, and called for more support for them. He proposed that each child get a “Child Development Bonus” in cash, every year, and that seniors be given more healthcare subsidies.
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