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Netizens agree with WP chief Pritam Singh’s call for Govt to reveal projections on revenue and expenditure to justify GST hike

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5 years ago

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While speaking in Parliament during the Budget debate on Friday (28 February), Workers’ Party (WP) chief Pritam Singh urges the Government to disclose the projections on revenue and expenditure to the public so they can weigh the need for a GST hike.

Mr Singh also emphasised the opposition party’s stand against the GST increase.

Deputy Prime Minsiter Heng Swee Keat announced in his 2018 Budget speech that the GST percentage in Singapore will be increased to 9 percent anytime between 2021 and 2025, in order to amplify the country’s growing recurrent spending, especially in the healthcare industry.

However, in this year’s Budget presentation held earlier this month, Mr Heng, who is also the Finance Minister, revealed that the Government had decided to postpone its plan to increase the GST rate until after 2021. This was done after it reviewed the revenue and expenditure projections.

During the initial announcement of a GST hike in 2018, WP had opposed the idea on the basis of a lack of information about different revenue streams, among other things, Mr Singh noted.

But, Mr Heng’s explanation at that time was “one did not need to have information on everything to make a decision on anything”, Mr Singh explained.

Looking at the Government’s move to not raise the GST next year, Mr Singh pointed out that “it is obvious that the Government relies on revenue and expenditure projections to make this decision”.

He asked, “Would the Government make public these projections so that Singaporeans can critically evaluate the necessity of a GST hike?”

He added, “I believe this openness would contribute to a more substantive conversation and understanding of our fiscal trade-offs. This can only advance and mature conversations that take place in Singapore.”

The WP chief went on to state that the party’s position on this matter has not changed at all.

“We cannot support the GST hike, especially since the tax is to be raised in advance and before the Government projections have been put to this House,” Mr Singh said.

Despite the offsets given, Mr Singh thinks that the GST is a regressive tax that will badly impact the low and middle-income retirees seniors as they would be forced to spend sparingly, given that the offsets do not last for a long time for the middle class.

Lack of transparency on reserves

Separately, Mr Singh also brought up a point that the support package given to help the economy due to the COVID-19 outbreak was not taken from the country’s reserves, which is different from the support package distributed during the global financial crisis about a decade ago.

As such, Mr Singh questioned the lack of transparency on the reserves and asserted that an earlier reply from Mr Heng about why the dollar value of the reserves cannot be made public remained “unsatisfactory”, given that it is possible that the same argument could be applied to a majority of other democratic societies who err on the side of fiscal scrutiny and accountability.

Mr Singh also raised a point that media reports have revealed that Singaporeans want a deeper discussion on the reserves.

“These calls for greater transparency are not out of place and they will continue in years to come. They run in parallel with the Singapore Together spirit, with Singaporeans taking ownership, exploring fiscal solutions, seeking to co-create not just today’s Singapore, but a sustainable and equitable tomorrow that future generations of Singaporeans will inherit,” he said.

Upon hearing what Mr Singh said in Parliament, many netizens explained in the Facebook pages of TODAY and Channel News Asia that they agree with Mr Singh’s call for more transparency on the Government’s projections on revenue and expenditure so that the people can judge for themselves the need for a GST hike.

They explained that all ministers’ job to ask for the numbers and data to evaluate and see if GST hike is actually necessary.

 

Facebook user J Muthu opined that GST hike should not be implemented at all. He added, “The public should be made aware of the return from the earlier investments both foreign and local before any talk of a raise of a gst rate. Quite simply, the government should be accountable in showing it’s return on monies – obtained from it’s peoples – used to make investments especially overseas and it’s yield and performance.”

Echoing the same sentiment, others voiced out that GST should not be increased since Singapore claims to be a “rich” country. Kelvin Yee said that, “GST should be tiered based where basic necessities such as rice should not have GST imposed while luxury goods should have a much higher GST.”

However, Mark Leong believes that GST hike is needed for the short term, but not in the long run because “revenue from GST will stagnate or decrease population growth”.

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Commuters report being stuck for nearly half an hour during 10 Oct EWL Disruption

Some commuters took to social media to express their frustration during the East-West Line disruption on 10th October. While some claimed to have been stuck on the train for nearly half an hour, others voiced disappointment over SMRT’s inability to manage repeated breakdowns. Some even sarcastically noted that as public transport fares continue to rise, train faults seem to be increasing as well.

Published

20 hours ago

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10 October 2024

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SINGAPORE: On 10 October at noon, the East-West Line (EWL) experienced a disruption due to a train fault reported by operator SMRT at 12:31 PM.

Commuters were advised to expect an additional 25 minutes of travel time between Outram Park and Queenstown MRT stations towards Joo Koon.

SMRT also  announced the availability of free regular bus services and assured passengers that station staff would be present to assist those in need.

By 1:22 PM, SMRT said train services from Queenstown station to Bugis had resumed.

SMRT explained that at 12:30 PM, a first-generation westbound Kawasaki Heavy Industries (KHI) train stalled near Tiong Bahru station due to the fault.

“All commuters were safely disembarked at Outram Park station,” said SMRT, who also expressed apologies for the inconvenience caused.

According to comments from commuters on social media platform XiaoHongshu, some reported being stuck on the train which halted between Tiong Bahru station and Redhill for nearly half an hour.

One commuter commented, “I’m really speechless… Just a few days ago, the EWL had a major breakdown and just recovered. I thought things should be safer recently? Yet today I encountered this, the train stopped between Tiong Bahru and Redhill for almost half an hour.”

“SMRT really leaves people speechless. Prices increase every year (they’re set to rise again at the end of the year), yet faults occur one after another.”

“The last incident still hasn’t received a satisfactory response or explanation from the public, and now another one has occurred just a few days later.”

Commuter Expresses Disappointment Over SMRT’s Inability to Manage Repeated Breakdowns

Observing comments on SMRT’s Facebook post, one commuter, who claimed to have been stuck in the faulty train for approximately 45 minutes, expressed disappointment that, despite numerous breakdowns, SMRT still could not manage the situation effectively.

There were also commuters who criticised the communication during the train fault. He pointed out that the announcement made at the station was so muffled that it was unintelligible, rendering it effectively useless.

As a result, He had to look for information on SMRT’s Facebook page to find out about the delay.

Some questioned whether SMRT had conducted proper due diligence checks on all first-generation trains, given that the latest disruption occurred just 10 days after the resolution of a six-day major EWL disruption.

One netizen expressed dissatisfaction with SMRT’s approach to managing first-generation trains.

The comment questioned whether SMRT was waiting for more breakdowns of these trains before deciding to withdraw them from service.

The netizen expressed concern that this delay in action resulted in unnecessary costs for repairs and significant inconvenience for commuters.

A Comment expressed frustration with SMRT’s focus on post-incident announcements, arguing that such actions are too late. He suggested that SMRT should prioritise precautionary measures to enhance the reliability of train services.

Another netizen sarcastically noted that as public transport fares increase, train faults seem to be on the rise as well.

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Worries loom over speculative trends in HDB market as S$1M transactions dominate headlines

Four HDB flats at Bidadari’s Alkaff Vista estate recently crossed the S$1 million mark after reaching their Minimum Occupation Period (MOP). The surge in property agent visits prompted residents to put up signs to deter them. Netizens are concerned about speculative trends in the HDB resale market, particularly as properties in mature estates are viewed as lucrative investment opportunities.

Published

3 days ago

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8 October 2024

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Earlier, it was reported that four HDB flats at Bidadari’s Alkaff Vista estate recently crossed the S$1 million mark following the completion of their Minimum Occupation Period (MOP), signalling the rising demand for homes in the centrally located estate.

These high-value transactions took place between August and September 2024, with the highest being a five-room unit that sold for S$1.2 million last month.

The other three, all four-room flats located at Block 106B and Block 106A, changed hands for prices ranging from S$1.08 million to S$1.17 million.

According to HDB’s website, another unit at Block 105A, a low-floor flat, was sold for S$937,500.

Property Agents Flood Estate, Prompting Residents to Put Up Signs to Ward Them Off

In a report by Shin Min Daily News, several residents have complained about being inundated by property agents.

Some residents have reported daily visits from agents, prompting them to put up signs requesting that agents refrain from knocking on their doors, as they have no intention of selling.

At least 200 residents have reportedly placed “Do Not Disturb” signs outside their homes to ward off these unsolicited visits.

According to residents, agents typically knock on doors during weekday evenings, but since the signs were posted, many agents have taken the hint and now leave brochures instead.

Alkaff Vista is a Build-to-Order (BTO) project consisting of four blocks, was initially launched between 2015 and 2016.

Prices for four-room flats ranged from S$433,000 to S$682,000 during that period, depending on factors such as floor level and location, according to PropertyNets.SG.

Social Media Users Fear Rising Housing Costs May Impact Future Generations

Public reaction to these million-dollar flat sales has been mixed, with many expressing concerns on social media about the rising costs of public housing.

Some worry that the trend of million-dollar flats making headlines could make it more difficult for future generations to afford homes.

One comment recalled that the government had previously stated only about 2% of transactions would exceed S$1 million.

He expressed concern for future generations, stating that even with grants, they may still need to pay more than S$500,000 for a new flat.

He questioned how Singaporeans can increase the birth rate while also ensuring sufficient retirement savings.

The comment referred to a recent statement from HDB asserting that public housing in Singapore remains affordable and attainable for citizens.

It noted that million-dollar flats made up only 2 percent of total resale transactions in the past 1½ years.

HDB also pointed out that these high-value flats primarily consist of maisonettes, executive apartments, jumbo flats, and five-room units with desirable features, such as prime locations.

Netizens Voice Concerns Over Speculative Trends in HDB Resale Market

A netizen even questioned whether the current HDB resale market has “become a lottery”, with some hoping to secure en bloc or BTO units in high-demand areas. “This island is one big casino!” he remarked.

Another echoed this sentiment, noting that those who pay over S$1 million for an HDB flat are often individuals who have sold their landed properties and downsized to single-storey flats for retirement, freeing up cash in the process.

Another netizen pointed out that some view properties in mature estates as profitable investment opportunities.

The comment suggesting that buyers are rushing to purchase properties there, hoping to cash in once they are eligible to sell after the five-year mark, potentially earning a fortune for the first owner.

He suggested that if the government sells flats to citizens who no longer need them, it should take the flats back at a reasonable price and resell them to those in need.

He emphasised that these flats should not be placed on the open market, as they must adhere to HDB regulations, noting that HDB properties are not private assets to begin with.

A comment expressed frustration and concern over the government’s allowance of high-value HDB flat sales, which they believe contradicts the purpose of subsidised housing meant for poor and middle-income citizens.

He highlighted perceived loopholes in the system, as rising prices make it difficult for some citizens to afford homes, even with CPF (Central Provident Fund) assistance.

One netizen propose implementing an income ceiling for resale flat buyers and recalling subsidies for those who profit from selling their flats.

The comment also expresses dissatisfaction with the current Minimum Occupation Period (MOP), suggesting that it is ineffective in curbing speculative trends.

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