Jamus Lim on Goods and Services Tax (Amendment) Bill
Temporarily exempt essential goods and services from the GST hike - this would be an important stop-gap measure to give relief to Singaporeans, said MP Jamus Lim in Parliament on Monday (Nov 7). He pointed out that inflation has hit hardest in the categories of food and fuel, with the latter in turn causing jumps in utilities and transport costs. He said it is reasonable to offer temporary, targeted relief for these necessities which account for a significant pocket share in the average household's budget. Assoc Prof Lim explained why such a move may not be regressive and why it will likely not have significant detrimental effects on Singapore’s fiscal balances.
Temporarily exempt essential goods and services from the GST hike - this would be an important stop-gap measure to give relief to Singaporeans, said MP Jamus Lim in Parliament on Monday (Nov 7). He pointed out that inflation has hit hardest in the categories of food and fuel, with the latter in turn causing jumps in utilities and transport costs. He said it is reasonable to offer temporary, targeted relief for these necessities which account for a significant pocket share in the average household's budget. Assoc Prof Lim explained why such a move may not be regressive and why it will likely not have significant detrimental effects on Singapore’s fiscal balances.
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