Lawrence Wong rejects opposition's alternatives to GST hike
He says these politically more attractive options are too simplistic and divisive, and will end up creating more problems for society
Add BT as a preferred source
Singapore
MINISTER for Finance Lawrence Wong has rebutted opposition calls to raise public revenues from sources beyond a planned goods and services tax (GST) increase, as he called on lawmakers to beware proposed alternatives that "are not prudent and will come at the detriment of the next generation".
Revenue from higher corporate, wealth and other taxes cannot substitute for the higher GST, he said in the Budget round-up speech. Instead, he argued that Singapore needs "a good mix" of income-, asset- and consumption-based taxes.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
