Raising tax revenue the 'sustainable and responsible' way to fund Singapore's expenditures: Lawrence Wong
Finance minister says increasing GST helps share burden of taxation across entire population, including tourists, foreigners
Add BT as a preferred source
Singapore
THE sustainable and responsible way to fund Singapore's recurrent expenditures is to raise tax revenue and to do so with a fair and progressive tax system, Finance Minister Lawrence Wong said on Friday (Oct 15).
"Healthcare alone will demand an additional 3 per cent of gross domestic product (GDP) in spending over the next 10 years. That, plus our investments to reduce emissions, provide quality education, maintain security and so on," he said at the 35th Singapore Economic Roundtable organised by the Institute of Policy Studies.
TRENDING NOW
Singapore developer in limbo after Timor-Leste scraps major township project
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
MAS to remove mandatory financial advice for complex products for most retail investors
That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think
