The Singapore Budget is out.

Well, if you ask me frankly what i think of it, i would say the govt is trying its best to help the companies, but what they are giving the average Singaporean on the street is really insufficient.

The increase in GST credits like how much, 100 or maybe $200? How can that cover the increase in cost of living due to the hike in GST?? Hmm i wonder why they can say that the benefits from the handout for the invididuals will be more than if they had reduced the GST rate back to 5%. For example, if someone bought a new flat screen TV for 4k in a single purchase on any day, the GST would be 280 based on the current GST rate of 7%. If GST was 5%, the GST amount would be 200. That means one has to fork out 80 extra just because of the higher GST. So how much can the increase in 100 or 200 in GST credits for the year cover how much one would need to pay extra in a year due to the GST hike??

I would very much prefer if the GST had been slashed lor. Oh well, i dont think what we think matters much anyway. Even if we dont like it, what can we do rite? Btw, i found this interesting thread (The Singapore Story) on a discussion forum on Reach. Read it if you are interested haha.