• About Us
    • Fact Checking Policy
    • Ownership & funding information
    • Volunteer
  • Subscribe
  • Letter submission
    • Submissions Policy
  • Contact Us
The Online Citizen Asia
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
The Online Citizen Asia
No Result
View All Result

Reflections on Budget 2008

by onlinecitizen
22/02/2008
in Uncategorized
Reading Time: 5 mins read
0

By Eric Tan Heng Chong

My parents taught me to be gracious when you receive a gift, and not to scrutinise it. This year Singaporeans received a ‘gift’ in the form of the Budget. There are many good things about the Budget for both individuals and corporations.

But despite what my parents taught me, I cannot help feeling that perhaps I must re-examine these gifts. My instincts tell me that the giver once took a lot from me and is now only returning some to me. I remember the increases in taxes and charges; these were permanent. The gifts to me now are one-off goodies.

I recognise that sometimes, for the greater good, I must suffer some loss. The taking, however, is becoming too much to bear, and the reasons given for it not good enough. It is time the government takes less and gives some back. I would suggest the following ways to do it:

Remove GST for essential goods like food, utilities and clothing. This a 7 per cent reduction in the price of these goods and will certainly be a significant off set against inflation. Furthermore this reduction will benefit all segments of society.

Reduce the tax on petroleum and diesel. This will reduce transportation costs for all. In 2007, the government collected S$373.1 million in petroleum excise duties. In the 2008 Budget they plan to collect S$381.6 million. I believe that there is flexibility for them to tax less in this category.

Reduce the cost of public housing by not benchmarking the price to private housing. Currently, the government decides the cost of HDB flats based on how much private housing costs, and forgets that it is providing subsided government housing. This is only a market price subsidy. The government should instead base the price of HDB flats as a discount on the cost price (including land cost), making it a real cash subsidy. There is no point in pricing the flat high and then giving discounts or grants to selected groups.

Freeze price increases wherever possible. I am not convinced that some of the increased charges are justified. While the government tells us that it is very concerned about inflation, it proposes raising university fees, Medishield premiums, ERP charges etc. These increased fees are a double whammy for the average man in the street. The government tells us that it has no control on inflation for many goods, but it certainly has control over these charges—it is the government’s duty to bear the higher costs in these cases, for they are in essential areas of education, healthcare and transport.

We, the common people, are not asking for handouts, one-off or otherwise. We are only asking the government to take less money away from us. The next question that comes to mind, then, is how to make up for the reduction in government revenues, should these measures be taken.

Perhaps a major cost-saving initiative in the budget can do this.

Since the government told the people not to expect such goodies next year as there is no certainty that the economy will continue to do well, it is prudent for the government to maintain a lean cost structure and plan for some cost savings. This year’s Budget did not have any visible major cost-saving initiative—in fact, there was a plan to increase operating expenditure by 10.6% in 2008 as compared to 2007. This increase amounts to S$2.78 billion, and perhaps a re-examination of it is necessary.

A reduction in operating expenditure would free up some funds for the government to help the people. The former Speaker of Parliament in 2002 spoke up against excessive government expenditure, calling some government buildings “The Seven Wonders of Singapore”. This is one such accolade that we can do without.

Perhaps I am not living up to my parents’ expectations in being gracious in accepting gifts. But true givers give from their own bounty without expecting anything in return. The money that we are being given now is not even their money; it is the people’s money, our money.

I recently met a businessman and asked him what he thought of the budget. He replied that he was just waiting for when they will collect it (the money) back. I hope he is wrong, and that the next Budget will take less and give some.

About the author: Eric is a member of The Workers’ Party. The above article is written in his personal capacity and as a brief commentary on the Budget.

—————————

For just US$7.50 a month, sign up as a subscriber on The Online Citizen Asia (and enjoy ads-free experience on our site) to support our mission to transform TOC into an alternative mainstream press.

Related Posts

WHO panel in talks on COVID emergency status
AFP

WHO panel in talks on COVID emergency status

27/01/2023
AFP

Two years after Myanmar coup, UN says situation ‘catastrophic’

27/01/2023
Grab driver supposedly earned $5,227.82 in a week prior CNY, netizens voice worries over his health
Community

Grab driver supposedly earned $5,227.82 in a week prior CNY, netizens voice worries over his health

27/01/2023
Philippines to appeal ICC resumption of drug war probe
AFP

ICC grants new inquiry into Manila’s deadly ‘war on drugs’

27/01/2023
Minister refutes claims of Malaysia consulting Singapore on housing policy due to its inefficient civil service
Housing

Minister refutes claims of Malaysia consulting Singapore on housing policy due to its inefficient civil service

27/01/2023
457 civil society organizations call on ASEAN to move beyond the Five-Point Consensus
AFP

Myanmar junta sets out tough new rules for political parties

27/01/2023
Subscribe
Connect withD
Login
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of
Connect withD
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
0 Comments
Inline Feedbacks
View all comments

Latest posts

WHO panel in talks on COVID emergency status

WHO panel in talks on COVID emergency status

27/01/2023

Two years after Myanmar coup, UN says situation ‘catastrophic’

27/01/2023
Grab driver supposedly earned $5,227.82 in a week prior CNY, netizens voice worries over his health

Grab driver supposedly earned $5,227.82 in a week prior CNY, netizens voice worries over his health

27/01/2023
Philippines to appeal ICC resumption of drug war probe

ICC grants new inquiry into Manila’s deadly ‘war on drugs’

27/01/2023
Minister refutes claims of Malaysia consulting Singapore on housing policy due to its inefficient civil service

Minister refutes claims of Malaysia consulting Singapore on housing policy due to its inefficient civil service

27/01/2023
457 civil society organizations call on ASEAN to move beyond the Five-Point Consensus

Myanmar junta sets out tough new rules for political parties

27/01/2023
Thai ruling party names deputy PM as main election candidate

Thai ruling party names deputy PM as main election candidate

27/01/2023
Mrs Teo says SG continues to invest in training local talent while MNCs transfer staff to work in SG

Mrs Teo says SG continues to invest in training local talent while MNCs transfer staff to work in SG

27/01/2023

Trending posts

Two Indian nationals paid about S$330 and S$730 respectively for forged certificates submitted in their S-Pass application

MOM found issuing EPs meant for foreign PMETs to PRC waitress and general worker

by Correspondent
26/01/2023
33

...

Ho Ching breaks silence over Temasek’s write down of its US$275 million investment in FTX, says it “can afford to be contrarian”

US regulator questions VCs’ due diligence work prior to investing in FTX; Ho Ching says Temasek can afford to be contrarian

by The Online Citizen
24/01/2023
28

...

Indian rupee falls 60% since signing of CECA while Singapore becomes top investor in India

by Correspondent
25/01/2023
52

...

Reflections on Budget 2008

by onlinecitizen
22/02/2008
0

...

Temasek and GIC reportedly in talks with Adani Group accused of “brazen” market manipulation and accounting fraud

Temasek and GIC reportedly in talks with Adani Group accused of “brazen” market manipulation and accounting fraud

by The Online Citizen
26/01/2023
46

...

“党籍不会过期失效”  前进党称已就党籍终止知会卡拉

AGC asked to explain purposes of 68 private letters of inmates illegitimately forwarded to prosecutors

by The Online Citizen
21/01/2023
16

...

February 2008
M T W T F S S
 123
45678910
11121314151617
18192021222324
2526272829  
« Jan   Mar »
  • About Us
  • Subscribe
  • Letter submission
  • Contact Us

© 2006 - 2021 The Online Citizen

No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Comments
  • Current Affairs
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Civil Society
    • Arts & Culture
    • Consumer Watch
    • NGO
  • Politics
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
  • Lifestyle
    • Travel
  • Subscribers login

© 2006 - 2021 The Online Citizen

wpDiscuz