On a general feel, most of my friends are happy with the Budget. There’s a lot of “heart” this year, observable in the creation of Silver Support and enhancements to mature workers salary. There are many motions moved to improve Singapore’s social security system.
But of course, you can’t expect everyone to like what they’re doing. Here are a few examples of the common grouses seen on Facebook comments:
But the Budget is all about how the government finds money to pay for all the needs of this country. In fact, this year’s Budget sees a shortfall of some $6 billion – but yet Ministry of Finance is able to find this money without raising taxes.
I’m not sure which right hand is taking back. GST, implemented since 1994 (at 3%) hasn’t been raised since 2007 (at 7%). Income tax continues to stay low and amongst the lowest in the world. HDB makes losses of almost $2b a year providing homes for Singaporeans. What is this right hand taking again?
That’s what they say at every election year. And when it’s not election year, they say that election is “coming soon”. They have been saying this ever since the PAP won its first election in 1959.
Oh by the way Eddy Cruzie, the Budget appears Feb/March every year. Not suddenly.
If you live in a big house, drive a nice car – then yes, actually this Budget works against you.
Oh, you mean “I don’t see an ang pow, so there’s nothing for me”. Well guys, look – this $55 billion dollar budget goes into everything from running the street lights, to paying for hospital bills, to securing the country. There’s a lot in there to look after your aged parents and that directly takes strain off your pockets.
There’s a lot of funding into “Skills Future”, maybe some might want to consider using it to improve their grammar and spelling.
Apart from the GST-V, road tax discounts and income tax discounts, everything in the Budget is recurrent. Remember WorkFare? That’s still going on. Now there’s going to be a new “Silver Support” that will make cash payouts to the low-income and elderly – that’s another permanent feature.
Did you know that the Minister’s salaries account for only a tiny fraction of the overall Budget? Some Sentosa properties cost more than all our Minister’s salaries added together.
No they can’t. Did you know that ERP collections are about $200m? That’s barely enough to build an MRT station. COE turns up only about $7b. The country spends about $55b a year – that’s barely enough.
This is a national Budget that discusses major issues – how do we solve the nation’s problems. How do we plan for a predictable, secure retirement. How do we help our low-wage earners? How do we make for social mobility by incentivising and empowering the Singaporean.
If what bothers you about the Budget is a 20 cent increase per litre of petrol – then maybe you should just stick to commenting on Facebook, and leave macroeconomics to the professionals.
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