In this extract of a video, I explained why many countries need GST but Singapore does not need GST. We should get rid of GST to reduce the cost of living and the burden faced by ordinary people.
You can watch the full video here:
https://www.youtube.com/watch?v=gYe-Y9sgBOw&t=456s
You can watch the full video here:
https://www.youtube.com/watch?v=gYe-Y9sgBOw&t=456s
1 comment:
Why you need GST in Singapore and not other countries. Very unique in this country.
GST is related to the ever relentless pace of new mega costly infrastructure doing by Govt, needing GST to plug the huge financing hole in maintaining these projects. Maintenance/Servicing very expensive, like buying a car is easy, but maintaining it expensive.
Here a perfect e.g.
MNCs, foreign Companies and GLCs bid for these huge projects through the lowest cost tender system, mostly below cost or at cost, losing money first and make money later through maintenance.
Many SMEs are sub contractors of huge Corporations offering services at
pittance prices, and the big guys then charge Govt Agencies many times over for maintenance, well you dun get a new Company do it.
Thus leading to what Mr. TKL's article on public wastage of resources.
Such huge bills dent country's financial resources, so ordinary folks have to help foot it through GST.
So GST is a steady, convenient source to tap, but at expense of folks.
Govt has to make MNCs profitable to stay put in Singapore to create employment for locals, and also help GLCs, who dun have competence to compete overseas, at least make money on home ground.
Take the relentless parroting that GST necessary to spend on social welfare services with pinch of salt.
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