Saturday, April 28, 2018

Should GST be totally abolished?

GST was introduced in Singapore in 1994 at the rate of 3%. Over the years, it has increased to 5% and now 7%. The government announced that it will be increased to 9% in a few years time.

Most people have got used to GST. They asked the government to keep it at 7%.

I disagree. I wanted GST to be totally abolished.

I posted this question in the Wisdom of the Crowd - Should GST be abolished?

58% of the respondents said that GST should be totally abolished as the government had sufficient revenue from other sources. Its abolished will have a major impact in reducing the cost of living.

23% said that we should keep GST but waived it for essential items.

13% said that we should keep GST but reduce the rate to 5% or 3%.

5% said that we should increase GST to 9% to give more money to the goverment to spend on social programs.

See the breakdown of the votes in

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