@thehammertok: The Leader of the Opposition Pritam Singh (Aljunied) spoke about Singapore’s fiscal situation and the government’s fiscal marksmanship in his speech, amongst other issues, on the first day of the Budget debate. He pointed out that not only has the government’s projected deficits not materialized, but it has turned a surplus totalling $14.3 billion from 2021-2025. This has led many to question the necessity of the GST tax hikes in 2023 and 2024. The increase in corporate tax revenue and continued foreign investment also suggest a strong financial position. Compared to the positive economic numbers, the lived reality of many Singaporeans in the heartland over the last 12-odd months has been very tough, he said. Concerns over jobs, prices, housing costs, and opportunities continue, the numerous vouchers will help for a little while, but not for long. After all, no GST offset package lasts forever. To improve on the government’s fiscal marksmanship, Pritam reiterated WP’s call for an independent Parliamentary Budget Office. Compared to 10 years ago, total public expenditure has close to doubled in nominal terms. The time has come to look at the having institutions that track and account for public expenditure in a dedicated manner, he said. Watch the full video on https://youtu.be/o2LW9bvWs-s?si=QGUfxOi8ABFPX1Cn #StepUp #wpsg #MakeYourVoteCount #SGParliament

The Workers' Party 🔨

Open In TikTok:

Region: SG

Friday 28 February 2025 03:54:21 GMT