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REACH 320 - How have you benefitted from the COVID-19 Budget measures in 2020 and 2021 so far? (SK)

18 Feb 2022 (10am - 7pm)

REACH

[1:41 pm, 17/02/2022] +REACH: Dear Contributors,

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Megan

[9:45 am, 18/02/2022] +REACH: Dear Contributors,

Welcome back! 😊

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Megan 😊

[10:00 am, 18/02/2022] +REACH: 📢 Topic 📢

Fiscal and public health measures adopted by Singapore to address the Covid-19 crisis have enabled the country to mitigate the economic and health impact of the pandemic. Here are some of the key highlights of a report by the Ministry of Finance (MOF) on Thursday (Feb 17), which assessed the effects of key Covid-19 Budget measures introduced in 2020 and 2021.

💬 How have you benefitted from the COVID-19 Budget measures in 2020 and 2021 so far?

📌 Economic and job losses averted

The Budget measures, aided by accommodative monetary policy, propped up the economy. Without them, the real gross domestic product (GDP) would have shrunk 10.7 per cent in 2020. Instead, it shrank just 4.1 per cent. The measures also saw real GDP grow by 7.6 per cent in 2021, while without them, GDP would have grown just 6.8 per cent.

📌 Vaccine roll-out, public health measures prevented higher death toll

Singapore's public health measures and vaccination efforts have averted an estimated 8,000 deaths due to Covid-19 between Aug 1 and Dec 31 last year - during the peak of Delta variant infections. The measures taken also helped to prevent a projected 33,000 severe infection cases and 112,000 hospitalisations. Having one of the highest vaccination rates in the world has also enabled Singapore to keep its Covid-19 death rate low.

📌 Jobs Support Scheme also helped preserve wages

A series of deeper studies were conducted by MOF, Ministry of Trade and Industry and Ministry of Manpower to measure the impact of specific schemes. In particular, the Jobs Support Scheme (JSS) was found to have saved an estimated 165,000 local jobs for the period between March and December 2020.

The scheme, under which a total of $28 billion was disbursed from April 2020 to December 2021, also helped to preserve wages.

📌 Economic scarring was prevented

Financing schemes and wage support helped to ensure that capabilities were retained even during the period of weak demand. This has allowed firms to maintain a strong base to better seize opportunities for recovery when demand returns. Singapore also turned to its past reserves rather than debt to fund its fiscal support measures, unlike most governments around the world.

📌 Employment rate went up

Resident employment expanded despite the challenges of Covid-19, with the resident employment rate increasing 2 percentage points between 2019 and 2021. The resident labour force participation rate also increased during this period. This was as workers were supported in retaining their capabilities and transiting to new jobs. Job prospects of graduates from institutes of higher learning in 2020 also remained about the same as their peers who graduated in 2018 and 2019, with the help of traineeship opportunities.

👉🏼 https://www.straitstimes.com/singapore/5-highlights-from-mofs-report-on-the-impact-of-key-covid-19-budget-measures

👉🏼 https://www.straitstimes.com/singapore/politics/covid-19-budget-measures-helped-cushion-recessions-impact-save-jobs-finance

👉🏼 https://www.straitstimes.com/singapore/health/covid-19-vaccines-helped-prevent-8000-deaths-during-delta-wave-moh

👉🏼 https://www.straitstimes.com/singapore/key-covid-19-budget-measures-in-2020-and-2021-prevented-longer-term-economic-scarring-mof

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[10:06 am, 18/02/2022] +BL: Using reserves rather than debt was probably the right approach despite low interest rates in the markets. We were fortunate we can do that through tight fiscal management over the last few decades.

[10:08 am, 18/02/2022] +BL: Also feels like the money was targeted to help people through employment and directly into areas where the money flows into the economy instead of being ring fenced by financial institutions, which happened a lot after 2008 around the world.

[10:09 am, 18/02/2022] +BL: Money spent on vax was very effective, clearly, and avoided many serious illnesses and early deaths.

[10:11 am, 18/02/2022] +BL: Spending money has cushioned the effects of the global pandemic and economic restrictions, but we are not in the clear yet. With the measures needing to be wound down and money to be paid back, it's the next 5 years that are critical.

[10:12 am, 18/02/2022] +Timothy Low: As a middle class and sore breadwinner for my household, I didn't benefit from any of the budget measures. In fact, I suffered loss as my salary remain stagnant while inflation rate climbed a lot. Prices of everyday items increased a lot and I hope the Government can also help the middle class as well.

[10:12 am, 18/02/2022] +BL: So, the budget measures dealt well with dampening the fire 🔥, what are the measures for easing us back to normality without too much difficulty ahead. The GST increase isn't going to be enough.

[10:14 am, 18/02/2022] +BL: Yes, one question is whether it's just the beginning, or is the economy now stable?

[10:21 am, 18/02/2022] +Timothy Low: Not sure if employers will take the initiative to increase salary to counter increasing inflation rate or not. As of now I don’t see the inflation rate will stop climbing up drastically this year

[10:22 am, 18/02/2022] +BL: Yes, worldwide this is happening. Companies tend not to put prices down, even as costs reduce.

[10:22 am, 18/02/2022] +Ah Heng: globally inflation is taking place .. singapore by no miracle will escape this wave also, though there had been annouce measures to lessen the impact but effect wise we will not know

[10:23 am, 18/02/2022] +BL: Shipping and transport have a lot to make up for. Manufacturing, construction, energy etc. All infrastructure costs that are increasing and won't go down.

[10:23 am, 18/02/2022] +Ah Heng: am concern more on gst and forth coming taxes .... this really affect every day lives

[10:23 am, 18/02/2022] +Ah Heng: let's recap in the last 2 mths what happen

[10:24 am, 18/02/2022] +Ah Heng: power proces jump how many times at least twice ya? petrol hahahahaha ask all the drivers how many times is jump

[10:25 am, 18/02/2022] +Ah Heng: so is there a more clever and feasible way a country can cushion external forces influence on prices? maybe yes but 100% is not a no

[10:26 am, 18/02/2022] +Ah Heng: like food stability, should we push from what% to 50% or 65% for certain staple products?

[10:28 am, 18/02/2022] +Smiley face: https://www.scmp.com/news/hong-kong/health-environment/article/3167443/i-have-waited-12-days-slow-coronavirus-test

[10:28 am, 18/02/2022] +Ah Heng: crisis time frankly i did not notice the benefit except when visiting to medical facilities which they think you are covid and waive treatment else .... not much different

[10:29 am, 18/02/2022] +JC: the best way to increase salary has to be continuous improvement/upskilling and make your employer want to pay you more to keep you... anything else won't be sustainable. Understand its challenging and much hard work involved but no choice.

[10:31 am, 18/02/2022] +Timothy Low: To be honest i think the Government is determined to raise GST this year. Mainstream medias are all painting the good picture of increasing GST and none of the concerns we have highlighted.

On a side note, can MSMs also report on the downside of increasing GST so that we can have a more balanced view?

[10:31 am, 18/02/2022] +JC: Alternatively, if you happen to be stuck in a shrinking industry (like me previously), then you'll need to find ways to exit and join a growing industry where your skills will command more pay.

[10:31 am, 18/02/2022] +Ah Heng: a very clear paint picture already hahahahahahaha

[10:34 am, 18/02/2022] +Ah Heng: for business costing we understand the need to make profit BUT HOW MUCH PROFIT IS ENUFF? 1 MILLION 2 MILLION? leaders of business have to understand till the day workers have not wake up and see the light, is a reminder the running of the company is not by CEO or Directors but by the foot soldiers of the company

[10:35 am, 18/02/2022] +Ah Heng: if the cost of running is up, is the role of CEO and brains of the company to find sustainability BUT not taking it out on its workers aka commonly pay cut / pay freeze / low ball with new hires ....

[10:37 am, 18/02/2022] +Ah Heng: is like a cycle, boss keep workers happy, company live longer, everyone got a job and pay cheque, money flows into economy - ideally / fairy taled world ......

[11:11 am, 18/02/2022] ☸️ Danny 心:

1. Budget 2020 and 2021 is a watershed years - whereby Government spend more than a whopping $100 billion digging $50 billion from our reserves to fund the following and preventing a century crisis covid from scarring public health as well as economic scarring.

2. As a result, billion of dollars are spend on healthcare:-

a. Testing

b. Vaccines

c. Therapeutic medicine

d. Hospital, isolation etc

3. Multi billion dollars are spend on propping up our economy, keep jobs, provide finances to ensure our population can feed themselves while we try to survive the covid threat, get ourselves vaccinated to protect against covid and keep our business going and job afloat.

4. Based on our economic performance last year 2021, we have done very well in such a bad time - a whopping 7.6% GDP growth.

5. Now is the time to tackle the next most pressing issues:-

a. How to live with covid in endemic.

b. How to bring our economy into a stable shape, ensure business continue to function and grow, ensure hard hit sectors such as aviation, tourism, hospitality sectors, global transport, supply chain etc go back to its pre-pandemic state.

c. How to contain supply side inflation and demand side inflation in check and not go out of control - that will dampen business margin and eat into people's savings and cost of living affordability.

d. How do government go back to fiscal prudent by maintaining balance fiscal budget and plough back savings to reserve that we have used to fund the covid budget.

[11:13 am, 18/02/2022] +jimmy chew: Er.. Budget reporting?

[11:17 am, 18/02/2022] +Ah Heng: danny got the point but will be intresting to knwo how much was drawn or loan for fy2021 also

[11:17 am, 18/02/2022] +Ah Heng: but a double edge sword if this figure is release

[11:21 am, 18/02/2022] ☸️ Danny 心:

1. 1stly, I will like to comment on inflation - that many people are facing even before GST increase is announced:-

a. Supply side inflation.

This is where globally, we are hit by supply chain disruption. Factories are lockdown due to pandemic. Labor are not working. Goods stuck at ports. Global climate, flood have hit crops. Oil are disrupted - and energy price spike.

Hence this has driven global price worldwide in which our government will have little control.

The only way the government can counter the supply side inflation are:-

a. Edge up our exchange rate against foreign currencies to counter imported inflation - but ensure we are still competitive in export.

b. More active but careful investment in world growth business that will bring us higher Sovereign Fund earnings.

[11:23 am, 18/02/2022] ☸️ Danny 心:

We have drawn out $52 billion from our reserves - and we need to slowly pay back.

[11:26 am, 18/02/2022] +Ah Heng: Refresh me but I remember we also got loan right frm unspecific resources

[11:32 am, 18/02/2022] ☸️ Danny 心:

b. Demand side inflation - whereby:-

a. Business, food sellers, are increasing their food prices, goods and services to cover the higher imported cost.

b. The impending GST increase by 2% have also manifested whereby business hike their products and services in anticipation of the GST increase.

This demand side inflation has greatly impacted the people:-

Eg. Energy price spike, transport prices increase eg. Bus, MRT, taxi, fuel prices, food prices, etc.

Salary increment is only for sectors that are doing well and not across the board.

Retirees, unemployed, low and middle income is particularly impacted.

Both demand side and supply side inflation - have a big impact to the population - and Budget 2022 is critical to address this pain point breathing down on the population.

Let us hear from the Minister of Finance at 3.30pm - what help comes - that can meet all the financial objectives highlighted above.

[11:41 am, 18/02/2022] ☸️ Danny 心:

I think the MOF have reform the fiscal policy by allowing government to take loans by issuing green bonds and long term bonds to finance long term infrastructure investment - by capitalising low interest money market.

I think this is a prudent move because:-

1. The bonds are price at low interest rate - as now interest worldwide are at 0% or at 1%.

2. The financing of the bonds are bear by each generation that use it - and not accumulated debt to be repaid back by our descendants.

3. Green infrastructure like building sea barrier, green infrastructure are build year by year, and finance by balance fiscal budget every year paid by taxpayers.

4. Our Sovereign Fund earn much higher return and can easily service the debt interest if need be - during bad time if our fiscal budget at a particular year is in deficit like the last 2 years.

[11:49 am, 18/02/2022] +BL: Yes, this is the reality.

[11:50 am, 18/02/2022] +BL: Fair point. Has there been any analysis done on this? I assume yes and that is what the GST offset has done.

[11:51 am, 18/02/2022] +BL: Unfortunately too often the company direction is decided by the shareholders which are generally large investment banks.

[11:52 am, 18/02/2022] +BL: Fortunately only used 42bn

[0:01 pm, 18/02/2022] ☸️ Danny 心:

Yes. We save $10 billion.

But it means sovereign fund will have $42 billion less to invest and bring less investment income and less NIRC revenue to finance our government spending.

Hence government will have to raise taxes to compensate.

Thus government must find ways to repay back the reserve to ensure our earning machinery go back into shape.

[0:33 pm, 18/02/2022] ☸️ Danny 心:

1. Demand side inflation can be tame by carefully calibrated interest rate rises.

In addition, FED will announce interest rate hike come 16 Mar - and it will come a few successive time in one year to tame US runaway inflation.

As Singapore is an "interest rate taker" to safeguard our finance hub - to prevent capital outflow back to US, Singapore will have to increase our interest rate to keep foreign funds anchor in our shore.

Retirees with passive income will benefit from the interest rate increase - and will be able to cushion the demand side inflation.

But business who need to borrow loans to finance their business and people on loans to finance their property and hire purchase will be hit - dampening our economic growth.

2. Hence Budget 2022 will need to set aside fund to help business that requires finances to grow especially strategic business that have highest chances to succeed and create jobs.

3. SME also will need help.

So our Minister of Finance will really have a plate full - with so many challenges in front of him.

But I am confident our government can again perform and bring us into a new height and out of this pandemic.

[0:44 pm, 18/02/2022] +BL: Yes, raise taxes or reduce expenditure, or increase income from other sources. How is very important. Who should pay more in tax? Where do you reduce costs? How do we increase our income? Those are the 3 questions that define our approach, our Gov philosophy and success.

[0:45 pm, 18/02/2022] +BL: Some gov reduce corporation tax to attract business, but then increase consumer tax to raise revenue. I understand the logic, but don't agree with it totally. As with many things it takes a balance.

[0:45 pm, 18/02/2022] +Joseph: Singapore is not exactly an "interest-rate taker" nor does MAS directly influence SGD interest rates.

MAS manages Monetary Policy by managing SGD Exchange Rate against a basket of Trading Partner currencies, the level and proportion of which, is undisclosed.

Unlike regimes that manage by way of adjusting Interest Rates, the relationship between SGD Exchange rate and SGD Interest rate is inversed. So, SGD Exchange Rate controlled = SGD Interest Rate freely floating/market determined.

The most recent MAS Monetary Policy change was for a STRONGER SGD. In this environment SGD interest rates will fall since investors will be more wiling to hold/keep a strengthening ccy. Conversely, if MAS adjusts policy towards having a weaker SGD, then investors will demand a higher interest rate to hold on to the depreciating ccy, and SGD interest rate will rise.

[0:46 pm, 18/02/2022] +BL: A windfall tax is a good idea as a one-off way to raise revenue due to special circumstances - such as Covid 19. Then people are not in fear of a continual or permenant increase.

[0:46 pm, 18/02/2022] ☸️ Danny 心:

Our government have a vast array of brains and financial tools.

Let us hear from the MOF later.

[0:48 pm, 18/02/2022] +BL: 👍

[0:48 pm, 18/02/2022] +65 9654 2001: Side tracking from the topic:

This move is understandable.

Hope GOV will not rush to ease on mask wearing.

Masking should continue until cases come down to single digit.

[0:49 pm, 18/02/2022] +Rama: MTF LW did say so.

[0:50 pm, 18/02/2022] ☸️ Danny 心:

Yes. Singapore interest rate is based on free floating or market determined - that is why we are "interest rate taker".

When Fed increase the interest rate, Singapore interest rate will have to do likewise to prevent a capital outflow.

Singapore manage our monetary policy through exchange rate - brainchild of Dr Goh Keng Swee - as trade outsize our domestic economy by 3 times.

[1:10 pm, 18/02/2022] +Joseph: Hmm... that is not exactly how it works.

Unless Fed interest rate hikes (which by the way, the rates market has mostly already priced-in - up to almost 5 rate hikes this year), also results in USDSGD Exchange Rate going higher, otherwise SGD interest rates will not rise.

And given how China is a huge trading partner for SG, the more important thing to watch, is RMB strength/weakness, and if you have been following ccy markets, you would have noticed that the PBOC had been keeping the RMB rather stable, even though their currency is relatively strong at current levels.

This also explains why mortgage rates - anyone who has any housing loan eligible for refinance/rollover - would have noticed that it is actually even cheaper/lower at the moment.

[1:17 pm, 18/02/2022] +Joseph: key words being "expected" and "long-term" .. given enough time, anything is possible, especially for something that can either only go up, or go down 😂 I am not saying interest rates will not go up, I am just saying the mechanisms affecting SGD interest rates is not quite what you described

[1:20 pm, 18/02/2022] +Joseph: I think SGD interest rates are not going up for now even though US rates have already risen because it seems the drivers for SGD interest rates are for now, pointing in the opposite direction. But as with all forecasts and expectations that are dependent on multiple variables that can and will change, the outcome - SGD interest rate direction - will change as well

[1:20 pm, 18/02/2022] ☸️ Danny 心:

Well, we will face a peculiar economic situation whereby we will see a strong exchange rate as well as gradual interest rate hike.

That's why I say our MOF will have his plate full with such unusual post pandemic economic situation.

Anyway, our banks are poised to increase their interest rate pretty soon.

[1:25 pm, 18/02/2022] +Joseph: "prospects" .. "outlook" .. i am sure we all recall how good the "outlook" for global equities was just not so long ago 😉

[1:26 pm, 18/02/2022] ☸️ Danny 心:

Hahaha.

Well after march, I think we will know.

Maybank has started to increase their interest rate above 1%.

[1:27 pm, 18/02/2022] +Rama: Side to this, credit card issuance conditions need to be adjusted to discourage young working adults from living off beyond their means. There's an app call pace where one buys on credit but pay in three instalments later. Wonder why MAS is allowing this? As for credit cards, the issuance conditions of supplement cards should be tightened while increasing the limitations of main card holder to two months payment in full on their cards.

[1:29 pm, 18/02/2022] +Joseph: Another tip .. Equities and Bonds are "Long-only" assets ie. (most) investors can only BUY (or go Long), then hope to SELL at a higher price later on. It is not an asset that can easily be SOLD SHORT .. so ... any BROKER who wishes to stay in business, will only encourage investors to either buy ... or buy more .. samw with property/real estate ... you will never find a property agent who will tell you the property market is going to fall because then no one will want to buy and he/she will go out of biz 😉

[1:29 pm, 18/02/2022] +Rama: Insider trading of sorts

[1:33 pm, 18/02/2022] +Joseph: Buy-now-pay-later schemes make $ when the buyer fails or forgets to pay on time, The late charges/interest fees which I believe are non-negotiable/non-reversible are tear-inducing 😂

For consumers who can afford the purchase in the first place, and are disciplined/keep to the repayment schedules, the only incentive is the discounts/rebates. The firms actually lose money to such consumers.

[1:34 pm, 18/02/2022] +Rama: It doesn't teach the future generation financial prudence.

[1:36 pm, 18/02/2022] +Smiley face: https://www.taipeitimes.com/News/biz/archives/2022/02/18/2003773299

[1:37 pm, 18/02/2022] +Ah Heng: kindly please help to decipher

[1:38 pm, 18/02/2022] +Ah Heng: too chim for old people

[1:38 pm, 18/02/2022] +Ah Heng: only catch one key work is belt tightening which well make sense

[1:38 pm, 18/02/2022] +Ah Heng: cannot always spent spent spent

[1:42 pm, 18/02/2022] +Joseph: No . not insider trading. That is a different thing,

The Wealth/Investment industry works only if Investors (Consumers) are confident enough to trade/invest. The financial institutions facilitating the transactions only earn a small fee for each transaction.

If one thins about it, how "valuable" is that piece of advice/research if it is distributed so freely (for free) for nothing more than the HOPE that a consumer/investor would transact through that organisation/firm for that pittance of a transaction fee?

If it were really that "good" ie accurate forecasts/price prediction - why not keep it for themselves so that they make the money for themselves?

Or is the "Research/Advise" nothing more than a fancy marketing tool to give the Consumer/Investor the confidence to "invest"? Would you be more confident to invest your savings with, or without the "Research"? And what's with the disclaimers at the end that has more words than the advise/research itself? 😉

[1:43 pm, 18/02/2022] +Joseph: "rebuild coffers" ... claw back time 😅 which, to be fair, is necessary lah .... 😂

[1:43 pm, 18/02/2022] +Rama: Ìt can be considered Privelege knowledge for some to be exploited at the expense of others

[1:44 pm, 18/02/2022] +Joseph: just as how less than 6mths ago, they say inflation in the US as transitory only .. and not to be alarmed about 😜

[1:44 pm, 18/02/2022] +Ah Heng: this is is a sure sure ... cos how much govt had dump out for this bio-war for citizen, best part residents things IT IS A MUST by govt .. only our govt is sooo darn caring besides One more in the region ... but society forget noting is free in Singapore actually life hahaha

[1:45 pm, 18/02/2022] +Ah Heng: sorry i take back the word caring is concern (cos is a multi-lane relationship), one society break govt also headache more trash to clean

[1:46 pm, 18/02/2022] +Ah Heng: so concern is the word

[1:46 pm, 18/02/2022] +Ah Heng: not caring sorry sorry

[1:48 pm, 18/02/2022] +Joseph: 74 billion spending .. 5.7million population .. that is roughly 13k bill per pax 😅

[1:50 pm, 18/02/2022] +Ah Heng: lets assume not include the medical subsidy or citizens and pr

[1:50 pm, 18/02/2022] +Ah Heng: the bulk of this should be for the support package

[1:51 pm, 18/02/2022] +Ah Heng: i remember with a firm i work they got sooo much rebate that ..... they can share the cost with clients aka to offset operating cost

[1:52 pm, 18/02/2022] +Ah Heng: also companies and working people should not forget there was a period of time govt were paying 50% of our salary

[1:52 pm, 18/02/2022] +Ah Heng: this is to ensure we keep our jobs

[1:52 pm, 18/02/2022] +Ah Heng: but still i drag to see the up coming income tax for all and gst ....cry no tears

[1:53 pm, 18/02/2022] +Joseph: Sounds like a BUY-NOW-PAY-LATER arrangement leh 😂😂😂

[1:55 pm, 18/02/2022] +Ken Loh: No choice the support the whole Singapore. If not drop very hard to climb back up

[1:55 pm, 18/02/2022] +Ah Heng: now the trend ley like this app call ATOM or whatever buy now pay installment

[1:55 pm, 18/02/2022] +Ken Loh: Many industries takes decades to build. Hence the support. If not all will move to other industries and then will have shortage of talent in that industry

[1:55 pm, 18/02/2022] +Ah Heng: yeah pain it is but actually it benefits everyone .....

[1:56 pm, 18/02/2022] +Ah Heng: this is why everyone if can pay should pay even taxi drivers also pay ...no pay no license hahahaha

[1:56 pm, 18/02/2022] +Ken Loh: At times is good, but how to decide is really depends on government to make the right call.. not all are worth saving 😅

Hence the difference in the support

[1:57 pm, 18/02/2022] +Ah Heng: ok lah before they starts talking in the media one word to the presenters please please dun sharpen your knife too sharp ...leave a bit of breathing room, now expense go up with buy of ART kits and mask extra cost for living ...

[1:58 pm, 18/02/2022] +Ah Heng: art and mask also not cheap unless u got membership price like show i/c colur? or join Buy-Now-Pay-later club?

[1:58 pm, 18/02/2022] +Ken Loh: ART kits increase cost of running a business is really serious 🤦🏻‍♂️

[2:04 pm, 18/02/2022] +Caleb: Now no need ART liao. Unless healthcare or childcare

[2:04 pm, 18/02/2022] +Ah Heng: company gives say cost increase company dun give we say heartless self buy we say too expensive, [rice drop we say no stock ... see the relationship ......it is the society here

[2:04 pm, 18/02/2022] +Ken Loh: Not really factory we still using

[2:04 pm, 18/02/2022] +Ken Loh: So to ensure staff infected don’t come to work

[2:05 pm, 18/02/2022] +Rama: Cost must drop further

[2:05 pm, 18/02/2022] +Ken Loh: Office staff most advice to work from home during this peak period

[2:05 pm, 18/02/2022] +Ah Heng: have meh ? i know certain office still wants their staff to go back

[2:06 pm, 18/02/2022] +Ah Heng: some workers complaint of stigma of taking leave to care for the school kids who are infected

[2:06 pm, 18/02/2022] +Caleb: +1. ART need to be cheaper then $4 each

[2:06 pm, 18/02/2022] +Rama: Sgd2.00 tops

[2:06 pm, 18/02/2022] +Ken Loh: My side operation more important mah… 😅

And most office can work from home due to all the measures in places

[2:07 pm, 18/02/2022] +Ah Heng: so the demand from society is not a win win is i win u loose type

[2:07 pm, 18/02/2022] +Ken Loh: My operation staff work even during covid as they are essential business. Just that don’t mix team and test weekly.

[2:08 pm, 18/02/2022] +Ah Heng: human very hard to control like how kids are still being push to school when govt advisory is to stay home

[2:08 pm, 18/02/2022] +Ah Heng: reason parents needs to work

[2:09 pm, 18/02/2022] +Ken Loh: This really quite tough..

[2:09 pm, 18/02/2022] +Ken Loh: My kid yet to go school but I feel you

[2:09 pm, 18/02/2022] +Ah Heng: not me but got some real cases .. but to me such times am sure companies are pretty understanding on this too

[2:10 pm, 18/02/2022] +Ah Heng: if one comes and say ooo is because i no relatives to help ... that is quite quite impossible unless is a migrated family

[2:10 pm, 18/02/2022] +Ken Loh: Not all family members are healthy enough. To care for younger kids..

So don’t expect all have someone to care for the kids

[2:11 pm, 18/02/2022] +Ken Loh: Compassion is required but also not all business can afford

[2:11 pm, 18/02/2022] +Ah Heng: but whatever the case this opens up a new avenue of thoughts .. if we need the work force to support in such times yet want to ensure a clean society .. can the govt setup some temporary centre say in each housing estate to house these kids?

[2:11 pm, 18/02/2022] +Ah Heng: maybe close a level of a polyclinic

[2:11 pm, 18/02/2022] +Ah Heng: is a give and take situation i feel

[2:12 pm, 18/02/2022] +Ah Heng: if say a staff who is been monkey all this while of cos the mgt will get pissed but if with real reasoning and prove am sure company will understand and maybe make arrangement (again depending on nature of business and person role)

[2:13 pm, 18/02/2022] +Ah Heng: but nevertheless this is a real situation which should be address else we will have sneaky parents who will push their sick kids into a so call clean air environment and boom

[2:13 pm, 18/02/2022] +Ah Heng: and the cycle will repeat ..

[2:14 pm, 18/02/2022] +Ah Heng: already in pre covid we as parents saw many of such cases, kids with fever being push to kindergarden / child care on pretext weather hot , running nose, recovery from chickenpox and fever etc... such mindset are toxic

[2:15 pm, 18/02/2022] +Ah Heng: so assume another super delta varaint come will this parent allow someone who is infected to stay in their house

[2:15 pm, 18/02/2022] +Ah Heng: if not why they are so self fish to push a sick kid into a school of other healthy kids ...

[2:15 pm, 18/02/2022] +Ah Heng: ok side track enuff

[2:16 pm, 18/02/2022] +Ah Heng: of cos to have such faiclities is NOT FREE , let's pay a minimal amount also for the resources involves, facilities can use poly clinic or even those vacant school.

[2:16 pm, 18/02/2022] +Ah Heng: business wise in order not to be inconvenince should come to a win win situation

[2:17 pm, 18/02/2022] +Ah Heng: maybe allow staff to come in later and leave early for during the period etc ....

[2:33 pm, 18/02/2022] +Rama: https://www.indiatoday.in/india/story/india-mea-summons-singapore-envoy-pm-lee-hsien-loong-remarks-parliament-nehru-1914416-2022-02-17

[3:05 pm, 18/02/2022] +REACH: Budget 2022 to chart Singapore’s ‘new way forward together’: Lawrence Wong

This year's Budget - which will be unveiled by Finance Minister Lawrence Wong on Friday (Feb 18) - comes as Singapore prepares itself for a post-pandemic future. The theme of Budget 2022 - Charting Our New Way Forward Together - aims to give Singaporeans confidence to embrace the journey forward.

He will deliver the Budget 2022 Statement in English on CNA at 3.30pm.

📌 https://www.youtube.com/watch?v=-pe90TQJuSs

For more info on Budget 2022, please visit MOF's Singapore Budget website at https://www.mof.gov.sg/singaporebudget.

More: https://www.straitstimes.com/singapore/budget-2022-follow-sts-live-coverage-on-finance-minister-lawrence-wongs-speech-on-feb-18

[4:05 pm, 18/02/2022] +Anthony: Grocery Voucher $100 another for another year，it's another insulting to singaporean for another year

[4:05 pm, 18/02/2022] +Anthony: MOF thought that $100 is $1000😏😏

[4:05 pm, 18/02/2022] +Uncle Law: Pls elaborate

[4:06 pm, 18/02/2022] +Anthony: LW just said liao

[4:06 pm, 18/02/2022] +Caleb: 😂

[4:06 pm, 18/02/2022] +Uncle Law: Pls elaborate why it is insulting

[4:06 pm, 18/02/2022] +Caleb: CDC voucher

[4:07 pm, 18/02/2022] +Austin Ting: It may not be significant to u, but it can be significant to others as well hawker and neighbourhood stores

[4:09 pm, 18/02/2022] +Anthony: Everything in market has being increasing the price sharply,

But the voucher remain $100 it should be up the amount to $500

That's call concern to all singaporean

[4:10 pm, 18/02/2022] +Anthony: Not just give Abit here or there ,But also must care people on the ground feeling's

[4:11 pm, 18/02/2022] +Joseph: $100 would cover a 2% increase (GST from 7% to 9%?) on S5,000 worth of purchases.

Will consumers having more $ to spend - from Govt grants - not push prices up further?

[4:12 pm, 18/02/2022] +Anthony: That's why ,LTK to coming back again🤣🤣

[4:13 pm, 18/02/2022] +Joseph: Sorry.. i might have missed it .. but what did LTK do in the many years BEFORE he left?

[4:14 pm, 18/02/2022] +Ken Loh: Not for us to get back anything…

Mainly is for Low income to survive…. For us those that do ok… give all so we don’t make too much noise lol

[4:16 pm, 18/02/2022] +Anthony: Always urge the G & MOT stop operate the transport company like making money out from the singaporean

[4:17 pm, 18/02/2022] +Anthony: It's has almost every year now we did heard the transport company always wish to increasing the fare price

How dare 🤦‍♂️🤦‍♂️

[4:18 pm, 18/02/2022] +Ken Loh: 2% for those have disposable income.. to be frank really not much. If you eat restaurant easily weekly. 2% won’t be a issue.

For those Low income is a serious issue.

[4:19 pm, 18/02/2022] +Ken Loh: If you spend 30k a year is about 600 more

[4:19 pm, 18/02/2022] +Joseph: Hmm.... if you are spending 30k/yr on essentials, i think you cannot be considered low income right? 😅

[4:19 pm, 18/02/2022] +Uncle Law: Perhaps good to take this time to understand the needs and wants

[4:20 pm, 18/02/2022] +Uncle Law: Yup

[4:20 pm, 18/02/2022] +Ken Loh: I didn’t say I am Low income arh 😅

[4:20 pm, 18/02/2022] +Joseph: I am not saying you ,, but I mean in general... "you" as in people in general

[4:21 pm, 18/02/2022] +Ken Loh: 50 per month extra for those earning 1k is quite significant

[4:21 pm, 18/02/2022] +Joseph: Yup, I think so too

[4:21 pm, 18/02/2022] +Joseph: that's why I am surprised that someone feels that the Govt is insulting people by giving out the $100 vouchers

[4:22 pm, 18/02/2022] +Uncle Law: Yes. If GST can be kept lower for essential items will be good

[4:22 pm, 18/02/2022] +Anthony: Frankly speaking ,simply not good enough as a so called first world Government

[4:23 pm, 18/02/2022] +Joseph: i think the idea is to have a simple tax structure, then supplement/offset the increases by giving grants/rebates that will help the lower income/poor families

[4:24 pm, 18/02/2022] +Ken Loh: Good idea but how to determine… what is essential.

[4:24 pm, 18/02/2022] +Ken Loh: The thing is tax will also increase overall cost so artificially all will rise…

[4:24 pm, 18/02/2022] +Anthony: I can still recall the ( Orange Party ) suggest free WIFI from they Contested Constituency if they elected

However the current G haven't had a thought of that

[4:25 pm, 18/02/2022] +Ken Loh: So the 2% don’t just increase just 2%… it will stack depends on how many layers between to goods and the buyer

[4:25 pm, 18/02/2022] +Anthony: First World Government just a name not in reality yet

[4:26 pm, 18/02/2022] +Ken Loh: Lol

[4:26 pm, 18/02/2022] +Caleb: I think the GST grants not out yet

[4:26 pm, 18/02/2022] +Ken Loh: We are not too bad already can’t have everything

[4:26 pm, 18/02/2022] +Caleb: maybe after announcing on the GST increase then will announce GST relive for SIngaporeans

[4:27 pm, 18/02/2022] +BL: Interestingly it's more than a lot of 1st world countries give, I think. Not really heard of Gov giving its citizen vouchers to offset VAT/GST increases before.

[4:27 pm, 18/02/2022] +Ken Loh: Education, housing and jobs.. I have really no complaint on those parts

[4:27 pm, 18/02/2022] +Ken Loh: First world government country also have first world tax 😅

[4:28 pm, 18/02/2022] +Anthony: Last year Singaporean get GST Voucher $500 ,Anything less then that 🤦‍♂️🤦‍♂️

[4:28 pm, 18/02/2022] +Anthony: This year

[4:29 pm, 18/02/2022] +BL: Same problem - something has to give - increase tax through rises or more inward (foreign) investment (workers) or reduce expenditure.

[4:30 pm, 18/02/2022] +Joseph: I think its good enough, and here is my reason:

$100 will cover the 2% increase on $5k of spending.

Assuming low income family earning 1k/mth = 12k/year, I would assume most of the expenditure will be on household essentials that attract the additional 2% GST.

5k/yr = $416/mth in essentials. I think that would cover most, i not all of the essential spending where GST applies?

Giving more $ = higher spending power. This will also lead to even higher prices since the equilibrium price is essentially the price that the consumers can/are willing to pay. That partly explains why prices in Malaysia and Singapore differ so much.

So... I would like to understand, what is YOUR reason for saying its "not good enough".

[4:32 pm, 18/02/2022] +Joseph: Nothing is FREE ,, if you are not paying for something, someone else is...or you are paying in another way.

I am concerned people would actually choose/vote for a Govt because of a promise of FREE Wi-fi 😅

[4:33 pm, 18/02/2022] +Joseph: In your opinion, which Govt is "Frist World"? Really curious ...

[4:33 pm, 18/02/2022] +Joseph: quite sure there will eb

[4:34 pm, 18/02/2022] +Anthony: Government choose not to do so after all,

[4:35 pm, 18/02/2022] +Anthony: But they are capable to do so ,

Not just in one Constituency but whole SG

[4:35 pm, 18/02/2022] +Joseph: I think if Govt increase Income Tax rate to 40%, they can increase the Grant a lot more....but of course, then others will complain and say that is heartless too 😂

[4:36 pm, 18/02/2022] +Joseph: Maybe you need to start thinking why the Orange Party did not get Elected lor 😂

[4:38 pm, 18/02/2022] +Anthony: After Covid I surely The Orange Party Wil win more votes,

👍👍

[4:38 pm, 18/02/2022] +Joseph: oh yah hor.. totally forgot about that hahahaha

[4:38 pm, 18/02/2022] +Ken Loh: Not very stable.. but library not bad… but then again if no laptop also can’t use

[4:38 pm, 18/02/2022] +Ken Loh: University and poly free wifi

[4:38 pm, 18/02/2022] +Joseph: I think mobile phone can connect leh

[4:38 pm, 18/02/2022] +Ken Loh: Secondary school not so sure

[4:39 pm, 18/02/2022] +Ken Loh: Public area but very slow 😅

[4:39 pm, 18/02/2022] ☸️ Danny 心:

Wireless@sg is free.

Part of NexGen broadband network.

[4:39 pm, 18/02/2022] +Joseph: Good not free

Free not good

Good and Free not available 😂😂😂

[4:40 pm, 18/02/2022] +Ken Loh: 🤣🤣

[4:40 pm, 18/02/2022] ☸️ Danny 心:

But 3g, 4g and 5g is not free.

You got to pay the Telco.

Wi-fi is free almost everywhere.

[4:40 pm, 18/02/2022] +Anthony: Entry scan here & there no free means spend more on our pockets lor

[4:41 pm, 18/02/2022] ☸️ Danny 心:

Reason, a router gateway or a Telco base station always come with WiFi chip.

That's why it is free.

[4:41 pm, 18/02/2022] +Ken Loh: For school younger ones are a basic need 😅

When younger no internet was really quite hard.. although most of the time use to play game lol…

But access to information is a basic need I think

[4:42 pm, 18/02/2022] +Anthony: Just like ART Price haven't coming down to a acceptable price yet

[4:42 pm, 18/02/2022] +Ken Loh: When ask you google or do research always have to go library but if CCA late then can’t have access so have to plan

[4:43 pm, 18/02/2022] +Ken Loh: Libby free e books are all online. Without internet really can’t access.

[4:43 pm, 18/02/2022] +Ken Loh: NLB give free e books and audio books which I find one of the best things NLB done 👍👍

[4:43 pm, 18/02/2022] +Joseph: Your acceptable price is $0 for everything .. not easy leh 😂😂😂😂

[4:44 pm, 18/02/2022] +Ah Heng: So in the end ppl are u happy with the budget?!

[4:44 pm, 18/02/2022] +Ken Loh: Yah unlikely many country wants if don’t pay who give us 😅

More tax so can give free? Which we prefer?

[4:45 pm, 18/02/2022] +Ah Heng: Hey dun compare apple to orange reh

[4:45 pm, 18/02/2022] +Ah Heng: Other country is their business we have our own ground

[4:45 pm, 18/02/2022] +Ken Loh: Haven’t had time to watch everything lol

[4:45 pm, 18/02/2022] +Ken Loh: Wait for summary

[4:45 pm, 18/02/2022] +Ken Loh: 🤣

[4:46 pm, 18/02/2022] +Ah Heng: SAME! HAHAHAHAHA

[4:46 pm, 18/02/2022] +Anthony: I never ever said that ,

But I always said that affordable pricing is the key to protect everyone of us

[4:46 pm, 18/02/2022] +Ken Loh: But the carbon tax not good for my company 🥲

[4:46 pm, 18/02/2022] +Ken Loh: Means we earn less

[4:47 pm, 18/02/2022] +Ah Heng: I wish this is true but only in falala land cos here rental is killer den business wanna make a killing how....

[4:47 pm, 18/02/2022] +Anthony: Less $2dollar so hard meh

[4:47 pm, 18/02/2022] +Ah Heng: Carbon tax should be on all humans really we emit the most seriously

[4:48 pm, 18/02/2022] +Ah Heng: I still dun buy that carbon tax thing sorry

[4:48 pm, 18/02/2022] +Anthony: A bottle of beverage price should be acceptable range for ART KIT PRICE

[4:48 pm, 18/02/2022] +Ken Loh: Oh well.. Singapore been depends on oil industry for very long… guess change over time but also means company might move to another country… hopefully not mine

[4:48 pm, 18/02/2022] +Ken Loh: 😅

[4:48 pm, 18/02/2022] +Ken Loh: Haha agree me too

[4:49 pm, 18/02/2022] +Ah Heng: Oil will not die so soon I read an article some where

[4:49 pm, 18/02/2022] +Ken Loh: Another way to tax you 🤣

[4:49 pm, 18/02/2022] +Anthony: I believe everyone can sacrifice a cup of drink in order to get the ART test

[4:49 pm, 18/02/2022] +Ken Loh: Plastic double every 10 years

[4:49 pm, 18/02/2022] +Ken Loh: 😂

[4:49 pm, 18/02/2022] +Ken Loh: I am from plastic industry 😅

[4:49 pm, 18/02/2022] +Ah Heng: Yeah and styrofoam ley.....

[4:50 pm, 18/02/2022] +Ken Loh: Styrofoam no more but still you have many other plastic

[4:50 pm, 18/02/2022] +Ah Heng: Seriously is a joke lah stop cutting down the parks and greens

[4:51 pm, 18/02/2022] +Ken Loh: Singapore very green as compared to many cities Liao

[4:51 pm, 18/02/2022] +Ah Heng: And this thing about being green well ask nasa they crashing IIS into the sea green meh....

[4:51 pm, 18/02/2022] +Ken Loh: But nature wise don’t think we can preserve a lot

[4:51 pm, 18/02/2022] +Ken Loh: Money and nature… so the choice is quite easy 😅

[4:52 pm, 18/02/2022] +Ah Heng: Getting smaller and smaller and smaller miss the green we used to have not is Grey......

[4:52 pm, 18/02/2022] +Ah Heng: I mean now not not

[4:52 pm, 18/02/2022] +Ken Loh: Just hope that green HDB works

[4:52 pm, 18/02/2022] +Ken Loh: I really like green space also

[4:53 pm, 18/02/2022] +Ah Heng: Humans needs some space for green

[4:54 pm, 18/02/2022] +Ah Heng: Ok back to budget day... So no big chicken thigh this year ahhh

[4:54 pm, 18/02/2022] +Ken Loh: 🤣🤣

[4:55 pm, 18/02/2022] +Ah Heng: If dun have phew thank you means no whole 🐔 taken back or slaughter of whole farm

[4:55 pm, 18/02/2022] +Ken Loh: Our parks not bad arh.. garden by the bay 6 to 7.30 am no one leh

[4:55 pm, 18/02/2022] +Ken Loh: 🤣

[4:55 pm, 18/02/2022] +Ah Heng: All busy getting ready to for work going to school mah

[4:56 pm, 18/02/2022] +Ken Loh: WFH is awesome for me 😅

If not will be on my way to office 2 hours travel to work 😭

[4:56 pm, 18/02/2022] +Ah Heng: That's life for the middle class

[4:57 pm, 18/02/2022] +Ah Heng: We are in a matrix like some westerners believe, everything is a program... Hahahaha wake up do do do den sleep

[4:57 pm, 18/02/2022] +Ah Heng: Sleep time program will modify

[4:58 pm, 18/02/2022] +Ah Heng: Those ki siao wans will have mr smith saying hello

[4:58 pm, 18/02/2022] +Ken Loh: Better support for special needs 👍

[4:59 pm, 18/02/2022] +Ah Heng: Ok aged country aka Singapore not having enuff babies again.....

[5:00 pm, 18/02/2022] +Ah Heng: Is a global thingy see china see westerners

[5:02 pm, 18/02/2022] +Ken Loh: 1st world country issue… 🤷🏻‍♂️

No one want to have kids 🤣

Enjoy life better than having kids.

2 to me enough Liao 😅

[5:02 pm, 18/02/2022] +Ah Heng: Is not we dun want but social reason, goals of each family is different, youngster see a kid as a burden on pretext they are and will be bad parents, but....

[5:02 pm, 18/02/2022] +Ken Loh: Last time don’t think so much have Liao then work around it

[5:03 pm, 18/02/2022] +Ken Loh: Now plan and plan lol… in the end see Liao nope don’t want

[5:03 pm, 18/02/2022] +Ah Heng: Many fail to see the journey of being a parent; the love u get, the smile they give, the pain we go thru with them when sick....

[5:04 pm, 18/02/2022] +Ah Heng: Is like NS only the blessed one can taste and experienced ...

[5:04 pm, 18/02/2022] +Ken Loh: No money can replace… I agreed.

But norm now is can have or not is a choice mah…

[5:04 pm, 18/02/2022] +Ah Heng: In fact parents hood will drive one to the next stage of life... Mature further, think more more to provision regardless good or bad,

[5:05 pm, 18/02/2022] +Ken Loh: Many friends doing well also don’t want kids. Freedom is still treasured more

[5:05 pm, 18/02/2022] +Ah Heng: Yeah lah now is want glam, Wang song, want ability to do this and that

[5:05 pm, 18/02/2022] +Ah Heng: The value of a family is different to them......

[5:06 pm, 18/02/2022] +Ah Heng: So govt have to relook into our teaching books to inject some of these values if u want people to keep harping like rabbits and have many many little rabbits

[5:07 pm, 18/02/2022] +Ken Loh: Can travel anytime go anywhere… 🥲

Now no more till baby grow older

[5:07 pm, 18/02/2022] +Ah Heng: But also must ensure these rabbits able to have a steady job in exchange for carrots

[5:07 pm, 18/02/2022] +Ken Loh: Government grant already very good.. now is culture bah

[5:07 pm, 18/02/2022] +Ah Heng: Update Jin slow f CNA... I waiting for summary

[5:08 pm, 18/02/2022] +Joseph: i think we should aim higher .. if want to do, then do the best of the best and live up to our 1st World status ... don't just make it free .. pay people to collect the ART kits and do the tests 💪 😂😂

[5:08 pm, 18/02/2022] +Ken Loh: 10k upon giving birth leh.. if you take C ward is almost free

[5:09 pm, 18/02/2022] +Ah Heng: Not talking abt money is never enuff hahahaha

[5:09 pm, 18/02/2022] +Ah Heng: So is mindset and like we know the experienced

[5:09 pm, 18/02/2022] +Joseph: Beverage price is too expensive.. lets make that free too .. ORANGE .. ORANGE .. ORANGE 😂😂😂

[5:09 pm, 18/02/2022] +Ken Loh: I can afford private but I think KKH is one of the best Liao..

[5:09 pm, 18/02/2022] +Ken Loh: All private any issue also go KKH

[5:09 pm, 18/02/2022] +Ah Heng: Like no matter how bad a day is but when u see ur kids and their smile or happiness.... It makes u have that claiming effect yet minus off their monster way

[5:10 pm, 18/02/2022] +Ken Loh: Ouch property tax 😅

[5:10 pm, 18/02/2022] +Ah Heng: Wat happen there....

[5:10 pm, 18/02/2022] +Ken Loh: That one very pain

[5:11 pm, 18/02/2022] +Ken Loh: Heng I don’t drive

[5:11 pm, 18/02/2022] +Ken Loh: 🤣

[5:12 pm, 18/02/2022] +REACH: 📢 Topic 📢

Budget 2022 - Charting Our New Way Forward Together

Singapore’s economy has rebounded strongly from its worst recession since independence, says Finance Minister Lawrence Wong. Close to $100 billion over the past two years was committed to support Singaporeans and businesses through the uncertainties of Covid-19.

Budget 2022 lays the foundations for how we want to move forward as a society, and prepares Singapore for the challenges of the future. We call on all Singaporeans to build our nation together, and to ensure a better Singapore for ourselves and our children.

💬 Which Budget 2022 measure resonates with you?

📌 Investing in Our Businesses and People

Looking beyond the immediate crisis, we must use this window of opportunity to better prepare ourselves for the coming decade.

📌 Strengthening Our Social Compact

The Government will ensure that all Singaporeans have opportunities to do well for themselves, no matter their background or starting point.

📌 Advancing Our Green Transition

Our little red dot can also be a bright green spark. To play our part in the global effort to combat climate change, and secure a more sustainable future for ourselves and for the world.

📌 Building a Fairer and More Resilient Tax System

Everyone contributes to strengthening our revenue structure, with those who are better off contributing more. This reflects our values as a nation and our social compact.

👉 https://www.straitstimes.com/singapore-budget-2022-live-coverage

[5:14 pm, 18/02/2022] +Ah Heng: Wow this one apply to all type of cars ya aka electric

[5:14 pm, 18/02/2022] +Ken Loh: You rich than pay more which is fine… don’t affect normal singaporean

[5:14 pm, 18/02/2022] +Ah Heng: Good

[5:16 pm, 18/02/2022] +Ah Heng: Ok I think social budget is impt if we want to drive the generation next

[5:17 pm, 18/02/2022] +Ah Heng: But dun use dollars to enrich them, instead use it to built culture and values into them so it flows down the Singapore river

[5:19 pm, 18/02/2022] +Ken Loh: So many things I also cannot process all the information 😅

[5:22 pm, 18/02/2022] +Ah Heng: Sian basic retirement up to 99500 might as well say 100k

[5:22 pm, 18/02/2022] +Ah Heng: Anyway I dun see this amt also before I die haha

[5:23 pm, 18/02/2022] +Ah Heng: Gst starts in 2023 8% so wanna go buy big ticket item better do in 2023

[5:24 pm, 18/02/2022] +Ah Heng: Winner lor expected and the axe drop here higher personnel tax this yr

[5:25 pm, 18/02/2022] +Dan: Govt has been very generous in the payouts, especially to retirees.

[5:26 pm, 18/02/2022] +Ah Heng: Ok for the super super super rich niah Heng... Heng....

[5:27 pm, 18/02/2022] +Timothy Low: To them still peanuts yah

[5:28 pm, 18/02/2022] +Ah Heng: Else the term super super super rich... But they will have accountant to help them minus here and there wan lah

[5:29 pm, 18/02/2022] +Joseph: Rush to buy and push up prices??? please don't leh 😅

[5:29 pm, 18/02/2022] +Ah Heng: Tv where will push up prices

[5:29 pm, 18/02/2022] +Ah Heng: Fridges also

[5:30 pm, 18/02/2022] +Ah Heng: But if pocket big frm covid profit please go buy car and house thank you for contribution

[5:30 pm, 18/02/2022] +Joseph: Singapore tax is not like Ang Mor tax .. its simple .. simply tax nia ..cannot siam much 😂

[5:31 pm, 18/02/2022] +Joseph: TV the more don't rush to buy .. prices of IT/Tech products keep dropping one..

[5:32 pm, 18/02/2022] +Joseph: i aspire to pay top taxes .. paying more taxes means earning top dollars .. aiming to pay less/no tax means aiming low pay leh 😂😂😂

[5:38 pm, 18/02/2022] +Dan: My concern is for those who are not cash rich, but stay in private property. With the increase in property tax, this group of people may be on the losing end.

[5:40 pm, 18/02/2022] +Umar M: Disagree. They still have assets to fall back on and sell. More concerning are those in the lower income margin.

[5:42 pm, 18/02/2022] +REACH: ➡️ Households to get more rebates, $100 CDC voucher

More: https://str.sg/wmTw

➡️ Low-income families to get more support

More: https://str.sg/wmq3

➡️ Singapore to raise GST from 7% to 9% in two stages in 2023 and 2024

More: https://str.sg/wmqJ

➡️ Assurance Package increased to $6.6 billion, GST voucher scheme beefed up to offset GST hike

More: https://str.sg/wmqT

➡️ CPF basic retirement sum to be raised by 3.5% per year from 2023 to 2027

More: https://str.sg/wmTR

➡️ $6b draw on past reserves to pay for Covid-19 public health expenditure

More: https://str.sg/wmqG

➡️ Higher personal income taxes for top 1.2% of taxpayers

More: https://str.sg/wmTy

➡️ Tax rates for residential properties to be raised, as Singapore adjusts wealth taxes

More: https://str.sg/wmqk

➡️ S'pore's tax revenue will be hit by international rule changes; Republic exploring top-up tax for MNCs

More: https://str.sg/wmqw

➡️ $100 million top-up to Enhanced Fund-Raising Programme; support stepped up for charities

More: https://str.sg/wmqZ

➡️ Govt to co-fund wage increases of local lower-wage workers between 2022 and 2026

More: https://str.sg/wmTa

➡️ $500m package for SMEs to cope with Covid-19 challenges

More: https://str.sg/wmTU

➡️ $600m set aside to boost SME productivity, encourage R&D collaborations

More: https://str.sg/wmTW

➡️ $100m set aside to help firms implement training and transformation plans

More: https://str.sg/wmTg

➡️ Salary thresholds for new Employment Pass, S Pass applicants to be raised

More: https://str.sg/wmTd

➡️ Singapore's carbon tax could increase to $80 per tonne of emissions by 2030, in accelerated net-zero emissions bid

More: https://str.sg/wmTm

➡️ Large emitters can buy carbon credits to offset carbon tax bill from 2024

More: https://str.sg/wmT8

➡️ Businesses like BioNTech setting up regional HQ here will create good jobs for S'poreans: Lawrence Wong

More: https://str.sg/wmT2

➡️ $35 billion in green bonds to be issued by 2030 to fund green public sector projects

More: https://str.sg/wmTu

➡️ Vehicle tax, COE revenue set to rise 15% to $6.46 billion

More: https://str.sg/wmqQ

[5:48 pm, 18/02/2022] +Dan: https://mothership.sg/2020/09/individuals-private-property-financial-aid/

[5:57 pm, 18/02/2022] +Joseph: Sorry man .. you can't have your cake and eat it too. There are options/alternatives to raise short-term cash/financing against those assets. Or sell the "asset" and move into more affordable housing.

Can imagine if this is acceptable, many would max out their credit to "buy" the biggest/most expensive property the $ can buy, then ask for Govt aid.

Its too hard a sell to ask for help before someone has exhausted their own options.

[6:05 pm, 18/02/2022] +Ah Heng: This I agree....

[6:06 pm, 18/02/2022] +Ah Heng: Unless that land got 0 value like those in geylang

[6:06 pm, 18/02/2022] +Ah Heng: Else a land is a land is higher value den HDB

[6:08 pm, 18/02/2022] +Ah Heng: For social budget hope can have some ad hoc day care center in each estate... As this covid period does show there is a need for such

[6:08 pm, 18/02/2022] +Rama: This must be carefully studied

[6:09 pm, 18/02/2022] +Ah Heng: For kids ... And it can be shut down once the crisis is over

[6:09 pm, 18/02/2022] +Rama: Minister Indranee Rajah raised this some time ago

[6:11 pm, 18/02/2022] +Rama: Increase property (one of my dream tax) come true

[6:12 pm, 18/02/2022] +Rama: Another of my targeted dream tax increase

[6:12 pm, 18/02/2022] +Rama: Our ageing population is a great concern

[6:13 pm, 18/02/2022] +Rama: Likewise

[6:13 pm, 18/02/2022] +Rama: Yes

[6:14 pm, 18/02/2022] +Rama: I believe you are in the pink of health

[6:14 pm, 18/02/2022] +Rama: 😂🤣😅👍👌👏

[6:14 pm, 18/02/2022] +Ah Heng: Thank you I wish also hahahaha 70 still working at macdonald or taxi driver hahaha

[6:15 pm, 18/02/2022] +Rama: Agree

[6:45 pm, 18/02/2022] ☸️ Danny 心:

Think that this year Budget 2022 - quite generous.

[6:55 pm, 18/02/2022] +Rama: Rest well🤟👍👌👏🙏

[6:58 pm, 18/02/2022] +Smiley face: 18 February, 2022

To: Distinguished Ministers and All Honorable Members

"Even Robin Hood Can't ...These Coming Storms?"

"No problem can be solved from the same level of consciousness that created it." We're only human and finding a higher level of consciousness isn't always doable, especially when we are overtired and stressed."

- - Albert Einstein

Scenario:

A high possibility of US Fed rate hikes, certain?

Scenario of rate hikes of no more than 150 basis points before end Q4, 2022, what's the overall impact to global trades, oil & gas prices, and resurgence of new covid strains or a new virus? Can these financials and economics interventions deflate (defeat) a spectrum of prices and the multiplier effects across the globe? Let not this inflation of all sorts mushroom into a hyperactive one!

How Asia and Europe will reshape should these macro economics materialised and the end consequences known or unknown to each nation's microeconomics?

Country ( 国家, Negara, நாடு ):

How strong a country's pillars of economic structure & foundation ready for the forewarned 'perfect storms'? Will the existing signed free trades agreement buffer these changes and challenges? Any hidden or clear advantages to ride these 'storms' ?

Home ( 家, Rumah, வீடு ):

What's the risk exposures to all walks of life, these cases are jobs, jobless and costs? How strong will a family able to sustain these 'storms' ?

No fear, not been complacent, we will surf, weather and survive these impending storms.

Why so? Simply if one retracked into the 1970s global oil crisis to the recent years of the global financial crisis, we came out of these crises - OK!

One good habit is, Singapore always scan ahead and beyond the horizon for potential opportunities and threats! Once again, bet on it, Singapore will survive!

Afterwords:

Metric of Concerns & Problems -

What's these tipping points, the sustainability, the unknowns and the solutions?

- Family sizes from 2 to 12

- Household monthly disposable incomes

- Retirees monthly disposable incomes

- Disables monthly disposable incomes

- Daily expenses

- Aging expenses

- Financial obligations

- Monthly residual money /savings

- Legislated taxes and Payable taxes

- Present & Future skills set

- Structural Unemployment

Babe Blog - Insights on News Events

Friday, February 18, 2022

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