Burden of GST hike falls on the better-off: Lawrence Wong
Offsets will ensure effective rates for low-income households remain unchanged, finance minister adds
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Singapore
THE burden of the upcoming goods and services tax (GST) hike will mostly be borne by the well-off, as offsets will ensure that the effective GST rates for low-income households remain unchanged, said Finance Minister Lawrence Wong in Parliament on Wednesday (Mar 2).
He was responding to Members of Parliament (MPs) from the Workers' Party (WP) and Progress Singapore Party (PSP) who had argued that the GST is regressive and disproportionately impacts the poor.
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