Tuesday, February 18, 2014

Budget surplus for Singapore - the IMP figure

In the budget statement last year, the government reported the budget surplus for 2012 at $3.9 billion. According to IMF standards, this is grossly under-reported. The actual budget surplus is $36 billion. If this is the case, there is no need for the government to increase taxes to fund social benefits. They can even remove GST, which adds to the high cost of living .


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