REACH (Telegram) 62 -  BUDGET 2025 ROUND UP SPEECH 

(SK)

28 Feb 2025 (10am - 7pm)

REACH (Telegram)

REACH Singapore, [28/2/2025 12:27 PM]

Dear contributors,

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REACH Singapore, [28/2/2025 12:27 PM]

📢 BUDGET 2025 ROUND UP SPEECH 📢

PM & Finance Minister Lawrence Wong is delivering his Budget 2025 Round Up Speech now addressing the suggestions raised in Parliament. 

Watch the speech live (https://www.youtube.com/watch?v=nxnLbczQigM) and share your views on Budget 2025 Round Up Speech here!

----

REACH Singapore, [28/2/2025 1:52 PM]

Dear Contributors,

We want to HEAR from you!

💬 What are your views on PM’s Budget 2025 Round Up Speech? 

We have had good feedback from this group, and we hope that we can keep the discussion robust and active! 

Thank you!

Megan 😊

Jun Ming, [28/2/2025 2:10 PM]

Yo pls summaries what he say not free to listen the video

Jun Ming, [28/2/2025 2:12 PM]

Does reach not capable to do such summary without news journalist?

365, [28/2/2025 2:12 PM]

It's a back and forth debate between different MPs and PM, not easy to just summarize everything.

365, [28/2/2025 2:12 PM]

And it's still live also, haven't end

Jun Ming, [28/2/2025 2:13 PM]

Yeah maybe just add in whatever points have said

365, [28/2/2025 2:14 PM]

Nothing new in terms of pushing out policy (unless I missed out), a lot of clarification and answering questions raised.

Jun Ming, [28/2/2025 2:15 PM]

I think the video has been a few hours long liao . Please don't expect busy working slave or student have the time to watch through the video

Jun Ming, [28/2/2025 2:17 PM]

Maybe reach can do live minutes for such videos

LCL (Danny 心), [28/2/2025 2:44 PM]

*Raw Capitalism*

1. I will like to discuss an important and valid point raise in REACH - that form the cornerstone of our forefather LKY and his Cabinet era government policies - specifically our Nation must be run as Meritocracy - with minimal welfare benefits - so that our people won't get lazy, won't rely on State for handouts, cause a burden to working people who are taxpayers and cause burden to the State.

This is a valid and critical point - and is particularly relevant in 1960s, 70s, 80s, 90s --- when our State are poor, in the infant stage of Nation Building.

2. And the economic principles and system we adopt is "Capitalist System"/"Market Economy" - whereby our system rewards people who are enterprising, creative, innovative, hardworking and earn for our living.

This is the correct Economic System we are adopting - and is still relevant and in fact a pillar of fueling our Economic Growth and Nation Building.

3. But Capitalist System and Market Economy has it merits, but also has its flaws and pain point.

That is, it will result in a very Elongated pyramid - in Income/Social population structure - whereby the top 10% of the population will inherit most of the Nation Wealth, and the middle and lower income group share the minority leftover wealth.

Hence a pyramid.

The income inequaltiy and social status will be very stark and alarming.

This is a natural phenonmenon if "No invisible hands of the Government" intervene to correct such inequality.

Because in humanity, there will be a rare few smart enterprising people that can seize opportunitites and create wealth for themselves. The successful businessman.

Majority of the people will fall into the middle group - able to study hard, get a good job, be a professional, a manager and earn good income to form the middle class.

The rest will fall into the lower income group - poor and unable to survive if Government don't step in to help.

A Capitalist System without Government intervention through invisible hands is known as Laissaz Faire (你死你的事，我富贵就好）- and I call this the Raw Capitalism.

4. No democratic system in the World - can survive such an outcome - hence social unrest, democratic government change hands like changing clothes - because one man one vote - the lower and middle income group will vote out a Government if the flaws of a Capitalist System is not corrected.

This is what happens to US, so many countries in EU, even our neighbours like Malaysia, Thailand etc and Asia Pacific Countries like Japan, S Korea etc.

In fact in US, there are very serious gerrymandering to tweak their political system to favour the rich - whereby one man one vote - will not elect the Government - it is a very complex election system - that only a few rich swing States 摇摆州 determine the election outcome.

Everyone can witness the cruelty of Raw Capitalism - the DOGE that cannibalise the lower, middle and even higher income groups - that favor only the billionaires.

5. During LKY era, when our Nation is poor with no resources, no money, a marshland - LKY and his Cabinets have to adopt a raw head-on approach of Capitalism to ensure everyone make their hands dirty, work hard to grow the Nation and Economy - and accumulate more and more wealth.

This is the correct approach - when we are poor with nothing to back us up.

As a result, an Elongated Pyramid is slowly forming - that make income inequality and social class inequality as time passed - and our Nation become richer and richer.

Rich become richer, poor become poorer -- and the manifestation of the demerits of Raw Capitalism become more and more apparent come 1990s into 2000s.

6. Hence we need to evolve a more "Compassionate Capitalist System" - to enjoy the merits of Capitalist System and Market forces to reward enterprising individuals and hardworking workforce - while hiving off the adverse effects of Raw Capitalisim.

We will discuss this in the next section.

Jun Ming, [28/2/2025 2:54 PM]

https://www.instagram.com/reel/DGm17wDJ3vj/?igsh=dzV0YnE2aWVocGs3

I agree prices are high but is there any ways to push down the price. If not the price will only forever goes up

Jun Ming, [28/2/2025 2:55 PM]

Or can our salary have a  increase compatible to inflation

REACH Singapore, [28/2/2025 3:19 PM]

📢 BUDGET 2025 ROUND UP SPEECH BY PM WONG 📢

Prime Minister Lawrence Wong rounded up the debate on Budget 2025 on Feb 28. He addressed questions and suggestions from around 50 MPs raised over three days. These include questions from opposition MPs on the timing of the goods and services tax hike in the last two years, as well as suggestions from both sides of the aisle to better support families, workers, and businesses.

💬 Which aspect of PM’s Round Up Speech resonated the most with you? 

📌 Cost of living

Inflation in Singapore was driven mainly by global factors, which were already driving prices up before the Goods and Services Tax (GST) increases. The impact of the GST increase on inflation in January 2023 and January 2024 was “transitory”.

In 2022, consumer price index (CPI) inflation was 6.1 per cent. But this figure moderated to 4.8 per cent in 2023 and came down to 2.4 per cent in 2024, despite the GST increases.

On suggestions that the Government is relying only on vouchers to help Singaporeans with the cost of living, PM Wong said that this was not the case and added that these are temporary measures, not long-term solutions. Measures to help Singaporeans deal with the cost of living, as well as the SG60 vouchers, only make up 5% of the Budget.

📌 Fiscal marksmanship

If not for the GST increase and unexpectedly large corporate income tax collections, Singapore would have run a Budget deficit in both the 2024 and 2025 financial years.

The Government also rolled out an Assurance Package to cushion the impact of this increase, and enhanced the permanent GST voucher scheme for lower-income Singaporeans.

Operating revenue projections have generally not been off the mark, with the average deviation over the 10-year period from the 2010 to 2019 financial years was within a reasonable range of 5 percent.

Surpluses are never squandered but help fund future needs and provide support for Singaporeans, with the fruits of progress shared with everyone. 

Singapore’s fiscal strength is a competitive advantage in turbulent times, allowing it to respond swiftly to shocks and protect Singaporeans.

📌 Strengthening social support systems

Social spending will continue to grow in the coming years - driven by the ageing population and rising healthcare costs, but also because of efforts under Forward Singapore to strengthen the social compact.

A strong social support system should not be reliant on the Government alone, but complemented by efforts from individuals and the community, he added.

📌 Supporting workers

PM Wong said foreign workers are welcome to work here, but their entry into the country is managed in a controlled manner and intended complement Singaporeans.

The system of controls in Singapore has also been fine-tuned with measures such as workplace fairness legislation.

PM Wong stressed the importance of developing local talent, especially through the various SkillsFuture schemes targeted at mid-career workers and those who are involuntarily unemployed. More money will be put into strengthening the SkillsFuture system in the coming years.

📌 A new economic reality

Singapore needs to be prepared for tougher competition and do what it can to stay in the game. 

Countries who are key sources of technology are now concerned about leakage and want to keep proprietary technologies tightly controlled.

Singapore will make efforts to address these concerns and provide assistance where appropriate. This is to ensure that the country remains a reliable and trusted trade partner.

🔗 [ST] https://www.straitstimes.com/singapore/politics/watch-live-pm-wongs-budget-round-up-speech

365, [28/2/2025 3:20 PM]

Outside of a major recession, I don't really see prices coming down.

Let's see what the government can do to bring down cost.

1) They can help to subsidize the cost of goods for businesses and have the savings trickle down to consumers. In reality, this will not happen, and businesses will pocket the additional savings, especially when they know customers are willing to pay for said amount already. 

2) They can set price caps for goods. This goes against our fundamental ideology in a mostly free market, and can potentially drive away businesses that would otherwise settle here and contribute to our economy.

3) They can help to directly subsidize the cost for consumers. This is currently what they are doing by CDC and GST vouchers amongst other cost of living assistance package items.

4) Help to increase real income. They are trying to push for this in ways of upskilling and reskilling. Minimum wage sets will artificially drive up labour cost, which in turn will also eventually drive up the prices set by businesses. We are already in the age of AI and automation, we don't want to make the cost of hiring lower-skilled, and conversely lower income workers, even more unappealing. They need to be able to tide over until they acquire the skills for better jobs.

When will businesses bring down prices voluntarily? Really it's only when they are not able to generate enough income and have to attract more buyers, will they then decrease prices to attract buyers. If they are able to maintain profit levels, it means that there is enough of the population buying from them so sustain their business. 

While there are some which may fall through the cracks, which the government is trying to help by upskilling or reskilling, most of the populace have been able to keep up with the current prices. Think about how restaurants can generally still be filled with diners, despite their prices being multiple times that of a basic meal you can get from a hawker.

365, [28/2/2025 3:23 PM]

I would say more can be done on skillsfuture part, making the scheme more easily understandable for people. 

Ideally it should be comprehensive, those who need the training also want assurance that they can get a good job after training. This lack of security may seem like a risk for them to take on, leading them to take what seems to be the safer route of staying in their current role, even though it may not be relevant in the future.

LCL (Danny 心), [28/2/2025 3:24 PM]

*Compassionate Capitalist System*

1. With LKY era very successful Raw Capitalism that has helped to grow our Nation Wealth, accumulate sizeable Soverign Wealth - the starkness of Income Inequality also has grown - the gulf between the rich and poor become wider and wider - leading to social unhappiness.

2. Hence there is a need to tweak the Raw Capitalism by hiving off the demerits - into a "Compassionate Capitalism" to reap the benefits of Market Economy by rewarding enterprising and hardworking workforce - and redistribute wealth by very rich people to help those in the lower, middle and even lower upper income group - who are increasingly dropping down the income ladder and social class ladder.

3. Hence GINI coefficient of income equality become the guide to help the Government to make this happen by innovatively and creatively "tax" very rich people and high income people and redistribute wealth to help the , middle and even lower upper income group - without making very rich people and high income people unhappy and piss off (that they are being "targeted").

4, In effect, GST system is such a "income equality" system - that make everyone pay tax while enjoying the goods and services they consume. Very rich and high income people won't feel they are targeted - as everyone pays the tax - poor, middle, low rich and ultra rich - and happily pay - because they enjoy the goods and services they buy and consume.

To the rich, the GST pay is 湿湿碎。（Peanuts）

5. And then quietly, Government redistribute the GST tax collected as GST grants and transfer back to the poor, middle and low rich - a good 90% to 95% of the population.

6. By doing so the GINI coefficient of income equality become lower and lower for us - that is the Elongated Pyramid - become more and more compact (that is the gap of higher income and lower income become smaller and smaller).

7. Everyone share the fruits of our Open Economy, Globalisation and Capitalism --- unlike many Capitalist Countries whereby the rich become richer, poor become poorer (你死你的事，我富贵就好）(you die your business, I rich I enjoy) - to become （有难同但，有福同享）(Got crisis we tackle together, Got Wealth we share)。

8. Hence indeed after LKY era, successive Government from GCT, LHL and now our PM Lawrence Wong have successfully transform our Raw Capitalism into a Compassionate Capitalism.

9. Someone may ask, then are we breeding lazy people and live on the handouts of very rich people?

10, My assessment is, the Government tax transfer and grants are only sufficient to hive off the inflation and GST hike e.g $10,000 to $20,000 a year --- is not sufficient for a household or individual to survive - if individuals in a household don't work and earn income to feed the household.

Hence, breeding lazy people and live on rich people's handout - don't apply to our tweak "Compassionate Capitalism System".

In fact, this is an Economic System -- admire by the World - that we truly achieve a Market Economy that reward hardworking, enterprising workforce, and yet take care of more vulnerable people without breeding lazy people to rely on handouts to survive.

REACH Singapore, [28/2/2025 3:26 PM]

[ Poll : 1. The Round Up Speech adequately addressed the questions and suggestions arising from the Budget 2025 announcements. ]

- Strongly Agree

- Agree

- Neutral

- Disagree

- Strongly Disagree 

REACH Singapore, [28/2/2025 3:26 PM]

[ Poll : 2. Do you think the Government has managed its fiscal position well? ]

- Yes

- No

- Neutral

REACH Singapore, [28/2/2025 3:28 PM]

Dear Contributors,

Please take a moment to participate in our polls and share your opinion. The poll questions are pinned for easy reference, and your vote is anonymous.

We look forward to hearing your thoughts on today’s topic!

Thank you.

Megan 😊

365, [28/2/2025 3:34 PM]

Elaborating more on this, I think the government can combine the skillsfuture training providers and careersfuture employers together to form a path for those seeking new opportunities.

Employers can scrutinize the training being provided, and if it would be beneficial for the post they are hiring, and mark it as such. This way, those looking to potentially reskill or upskill can know that after training, there is a door for them, which of course is still not guaranteed as there would still be an interview process and other factors.

Employers can mark multiple different courses, as some of the courses tend to be similar in nature.

This is a win-win-win situation as job seekers can clearly see a path they can embark on relatively safely, training providers can get attract more students and also subject to more scrutiny and thus an incentive to provide higher quality education, and employers get access to a larger group of jobseekers that possess skills they are looking for.

W Goo, [28/2/2025 3:45 PM]

Shieng Siong is not stingy to reward their employee for running along with them. You see smile and proactively among their staffs. NTUC etc not much enthusiasm are shown (personal feel). If an employee are not well taken care off. Where is the loyalty? I know running a country is different from running a company. I just hope that Gov is not leaning towards replacing current with new and also waiting for this batch of population to die off. Leverage on the rich to gain advantages (yes there's a lot). But my gut feeling tells me most Singaporean are not free loader. We are as hardworking as anyone if given the right path. Gov need to thread carefully. If food is a struggle for majority. They can forget about loyalty and smile.

W Goo, [28/2/2025 3:47 PM]

Good suggestion for Gov agency to brainstorm further.

LCL (Danny 心), [28/2/2025 4:22 PM]

https://www.straitstimes.com/singapore/politics/battle-lines-drawn-over-cost-pressures-as-mps-debate-budget-2025                                                                                                                                                                                    Battle lines drawn over cost pressures as MPs debate Budget 2025.

LCL (Danny 心), [28/2/2025 4:24 PM]

Think this will be the single most important issue come election time as previously predicted.

LCL (Danny 心), [28/2/2025 4:26 PM]

It has been the make or break issue all over the world in election from EU to US to Asia Pacific - and many government change hands because of this single issue after post COVID.

Some for the worst - voters' regret after that.

W Goo, [28/2/2025 4:39 PM]

Is their personal choice 😊

LCL (Danny 心), [28/2/2025 4:40 PM]

This cost of living pressure is not easy to resolve.

Because we are price taker.

We practically import everything.

Only way is to upskill and improve our income.

LCL (Danny 心), [28/2/2025 4:42 PM]

Even if LKY come alive, he will probably do what the current government do.

W Goo, [28/2/2025 4:45 PM]

There's more ways. Ei NEA bidding system. Alot can be done there. Also chained stores running our food and kopitiam

W Goo, [28/2/2025 4:46 PM]

There are people tackling from the top down, but also need to tackle from bottom up.

LCL (Danny 心), [28/2/2025 4:47 PM]

Non chain food court and food stalls usually cannot survive for too long.

Because they don't have successors and they don't have strong financial backing.

Most close shops after awhile.

W Goo, [28/2/2025 4:47 PM]

Our MP are good. But gov agency might not be as good. Need a good boss to direct

W Goo, [28/2/2025 4:48 PM]

This want you are totally wrong. I'm from this line. I know inside out.

LCL (Danny 心), [28/2/2025 4:48 PM]

My neighbourhood coffeeshop stall owners told me that as a single stall holders very tough to survive - they are selling lower price food.

End up they close shops sell to food chain holders like kimly.

So many of my favourite low price food stalls ended up this way.

So sad.

W Goo, [28/2/2025 4:48 PM]

Rental is the main killer.

LCL (Danny 心), [28/2/2025 4:49 PM]

For private coffeeshops, I agree.

W Goo, [28/2/2025 4:50 PM]

If we want to go deep into detail, I can tell u we can spar till both die in the ring. Cos there are alot of area beside who to take over, if the food is nice, footfalls etc etc.

LCL (Danny 心), [28/2/2025 4:50 PM]

Sigh....

W Goo, [28/2/2025 4:51 PM]

What I'm saying is there are more ways to kerb prices. Upskill is not the only way.

LCL (Danny 心), [28/2/2025 4:52 PM]

One more coffeeshop low price one, only 3 stalls open, 7 stalls close cannot survive.

The coffeeshop owner say, waiting for MRT to open in 2030, then sell to a food chain operator.

Very sad.

W Goo, [28/2/2025 4:54 PM]

Let's discuss this issue when Gov bring it out on next parliament. But for now there are many area. One is what Ive say cos I'm familiar with it. Gov agency worth looking into it.

LCL (Danny 心), [28/2/2025 4:56 PM]

They told me rental cheap - but ingredients and labour cost high.

That's why cheap rent cannot save them.

They close stalls.

No more cheap food prices for me.

Now mainly eating kimly and other food chain operators food that is relatively high price.

But good thing, CDC and GST vouchers cushion the higher food prices for my household.

Not particularly impacted by the higher food prices.

W Goo, [28/2/2025 4:59 PM]

Haha... Okok. I can't disagree if this is what you seen. Everyone have different opinion base on their info. Not wrong. Rental is not only 1, ingredients and labour too..

LCL (Danny 心), [28/2/2025 4:59 PM]

Btw, this low price coffeeshop very rundown.

No renovation.

Only old uncle and auntie patronized.

Younger folks go to higher prices kimly operated stalls - long queue some more.

W Goo, [28/2/2025 4:59 PM]

You hit it 😊

LCL (Danny 心), [28/2/2025 4:59 PM]

Cannot attached photo, else you can see the difference.

W Goo, [28/2/2025 5:00 PM]

Monopolisation.

W Goo, [28/2/2025 5:00 PM]

Grab is another.

W Goo, [28/2/2025 5:02 PM]

Gov need to control well. Don't flood it. Ground feel currently not well balance. More can be done.

W Goo, [28/2/2025 5:04 PM]

Sustainable food price is more appropriate

LCL (Danny 心), [28/2/2025 5:05 PM]

After this ground feel, don't know whether the government will do some more things to sweeten the ground or not.

The Budget is just sufficient to tackle the inflation cost and GST hike, but not sufficient to make some people on the fringe happy.

365, [28/2/2025 5:06 PM]

The pricing for rental has to be fair though, hence the bidding system. PM made a statement which is roughly:"pricing things incorrectly means a hidden subsidy, and a subsidy means the cost is bared by taxpayers".

Why I think the bidding system is fair:

Hawkers set a bid where they think they can pay, while still earning a profit.

Hawker set prices of their items commensurate to how much they are willing to bid, and how much they think customers are willing to pay.

If it's too high, less customers, less revenue, not sustainable and they will close.

If it is reasonable, consistent inflow of customers, consistent and sustainable source of revenue, enough to pay for their bid, and consistent profit for the hawker to stay.

As much as we don't like price hikes, I believe that the current prices is acceptable to most people on average, that's why the stalls can continue to survive. Else, they would be closing. I have a hawker near me, and there are those that have closed and those that thrive, while all of them going through the same bidding system.

LCL (Danny 心), [28/2/2025 5:07 PM]

Though the government still have some dry powder to fire off.

Fiscal prudent is always a virtue.

But Leadership transition is equally important.

Don't know - catch 22 for me.

My left mind tell me the Budget is just right - the rational mind.

But my right mind tell me the government can do a bit more to sweeten the ground further - the emotion mind.

365, [28/2/2025 5:07 PM]

Of course this is not to say that there are not those who feel the pressure, this point of view is to take in most of the population instead of just the low income group.

W Goo, [28/2/2025 5:07 PM]

"That people" I believe are not look for more monetary help, but looking for Gov to dig deeper for a better solution.

LCL (Danny 心), [28/2/2025 5:09 PM]

I think the pressure is more emotional - the optics of high price they see everyday ruffle their feather.

But if do a rational backend calculation, majority of the people earn a profit.

Khai Mun L., [28/2/2025 5:09 PM]

But what if this is the best gov can do without impacting future generations and uncertainties? People just keep demanding moe

W Goo, [28/2/2025 5:11 PM]

Yes, nea have a fair system of bidding. Digging deeper. There are hawker hoarding up stores and rents it out for profit. Nea can take a deeper look into it. Stores are snatching up. Price goes up. This is just a small part they should look at it.

LCL (Danny 心), [28/2/2025 5:11 PM]

Honestly I have been also thinking hard is there a better solution.

But none better come to my mind.

Whether to adjust strength of currency, price intervention, more subsidy, change global supply chain etc all not really good answer.

The current government tax transfer is still a better solution.

365, [28/2/2025 5:12 PM]

Yes, I agree subletting should not be a thing in hawkers. But that is an issue independent from the bidding system.

Private coffee shops on the other hand, government cannot have much say in how they operate.

W Goo, [28/2/2025 5:12 PM]

Is a better solution yes totally 💯. But is not the ONLY solution.

W Goo, [28/2/2025 5:14 PM]

That is why I say there are room for discussion. We cannot as a Gov agency say no way mean no way. We must constantly seek new idea, new ways to look at it. I'm no scholar or anything. But we need to be open and look for way. No such thing as it's the only way my friend 😂

W Goo, [28/2/2025 5:15 PM]

That's why they need feedback and ground feel. Can give solution, give solution, no solution give ground feel.

W Goo, [28/2/2025 5:16 PM]

Every time I see long essays saying how it works how we should trust Gov and rejecting opposition. 😂

W Goo, [28/2/2025 5:19 PM]

Hai... Sometimes I see this forum more like... 😂😂😂

W Goo, [28/2/2025 5:21 PM]

Anyway, this round Gov doing better (to be honest) be it election or whatever reason. I just hope that they can look into it more. More in-depth.

365, [28/2/2025 5:26 PM]

I think this is more of a "prevention of abuse" optimization, and won't be something brought up for debate in parliament.

LCL (Danny 心), [28/2/2025 5:34 PM]

Even come out with socialist price fixing for a limited segment of the population for housing and budget meal - and have sent to government to look at it.

But I personally don't like the idea.

Because once implemented, it can't be killed politically - and it will not be optimising economic resources and maximising financial return.

It become addictive.

It will definitely keep the price down - but will lead to inefficient allocation of scarce resources.

Hence not putting up here.

Only for the government's eyes.

Not for public view.

Only meant to be an experimental pilot project if the idea is viable - but not for mass deployment.

REACH Singapore, [28/2/2025 6:00 PM]

📢 BUDGET 2025 ROUND UP SPEECH BY PM WONG 📢

REACH Singapore, [28/2/2025 6:48 PM]

Dear Contributors,

We want to HEAR MORE from you!

💬 Which aspect of PM’s Round Up Speech resonates the most with you?

We have had good feedback from this group, and we hope that we can keep the discussion robust and active! 

Do also share your opinion by participating in our polls! The poll questions are pinned for easy reference, and your vote is anonymous.

Thank you!

Megan 😊

LCL (Danny 心), [28/2/2025 6:56 PM]

Mr Wong highlighted that a comprehensive assurance package was also rolled out with the GST increase, effectively delaying its impact for the majority of Singaporean households for at least five years.

“At the same time, we have a permanent GST voucher, which we also enhanced. This ensures that the GST and the GST voucher scheme, combined together, will support the lower income groups and will protect them, not just over the next five or 10 years, but on a permanent and ongoing basis,” he said.

Mr Wong added that Singapore’s tax and redistribution system is “fair and progressive”, with its strong fiscal system internationally recognised by bodies such as the Organisation for Economic Co-operation and Development.

Source:- CNA news.

LCL (Danny 心), [28/2/2025 6:57 PM]

So look like the GST vouchers tax transfer system will be a permanent feature.

Not a temporary one.

If our fiscal budget permit and can finance such tax redistribution on a permanent basis - it smell good for all of us.

LCL (Danny 心), [28/2/2025 6:59 PM]

That's, it is not a band-aid system as coin.

But a structural solution - tax redistribution system.

Jun Ming, [28/2/2025 7:00 PM]

So every year there will be CDC vouchers

LCL (Danny 心), [28/2/2025 7:00 PM]

Not sure is it CDC voucher.

But I think GST vouchers very likely as described by the PM - if I interpret it correctly.

365, [28/2/2025 7:02 PM]

It's 2 different voucher schemes

365, [28/2/2025 7:03 PM]

It's a cash disbursement every Aug

LCL (Danny 心), [28/2/2025 7:03 PM]

Yes.

CDC voucher to tackle inflation.

GST cash vouchers to tackle GST hike.

365, [28/2/2025 7:03 PM]

I'm actually surprised that it's a permanent thing

xXx.SCAR.xXx, [28/2/2025 7:04 PM]

I seriously don't understand why people are so happy to receive script money / meal vouchers; it just mean that you are left behind by the economy and need help - help which you won't need if labour and capital are well-distributed and planned.

365, [28/2/2025 7:05 PM]

The voucher is distributed to the whole of Singapore, regardless of income level, so it is not true that you receive voucher means you are left behind.

LCL (Danny 心), [28/2/2025 7:06 PM]

Well, the policy of tax redistribution to maintain a good compact Gini coefficient of income equality - is a permanent target that the government want to achieve.

Good for social compact.

Hence making GST vouchers permanent will help to achieve such target.

Hence I am not surprised that our PM make it permanent.

365, [28/2/2025 7:07 PM]

It's a method of redistribution of wealth, but unlike the use of traditional method of income or wealth tax.

Both taxation method have their pros and cons.

LCL (Danny 心), [28/2/2025 7:07 PM]

Yes.

You are correct.

LCL (Danny 心), [28/2/2025 7:13 PM]

Btw, many people are not left behind economically and need help.

But are very happy to receive the GST vouchers and CDC vouchers - because of the Global blackswan events that have surprised the global population.

Specifically 小三灾。

人祸，瘟疫，天灾。

3 Global catastrophe.

War (Physical，Economic), Pandemic, Global climate.

An inflection point that will reorder population growth and economic circle in every vicious cycle.

WW1, 1930s deep depression WW2 ----- and now 2025 (coming to a century) inflection point.

It is no joke.

We are facing a humanity crisis.

LCL (Danny 心), [28/2/2025 7:15 PM]

Economic cycle is whereby Raw Capitalist system manifestations has reached its peak - and many global middle and lower group revolt.

But fortunately, Singapore unique system shielded our population from the ugliest manifestations of the flaw of global economic system and geopolitical tussling.

xXx.SCAR.xXx, [28/2/2025 7:18 PM]

"The first cause of absurd conclusions I ascribe to the want of method" - Thomas Hobbes, Leviathan

LCL (Danny 心), [28/2/2025 7:19 PM]

Can elaborate?

LCL (Danny 心), [28/2/2025 7:21 PM]

A great quote from Thomas Hobbes' iconic book, Leviathan (1651). Hobbes, an English philosopher, highlights the importance of methodical thinking in avoiding absurd conclusions.

In Leviathan, Hobbes presents a systematic and methodical approach to understanding human nature, politics, and society. He argues that a clear and structured method is essential for sound reasoning and for avoiding the pitfalls of illogical thinking.

Hobbes' emphasis on method is a key aspect of his philosophical approach, and it has had a lasting impact on Western philosophy, particularly in the areas of political philosophy, ethics, and epistemology.

Source:- Meta AI

LCL (Danny 心), [28/2/2025 7:22 PM]

Very philosophical.

LCL (Danny 心), [28/2/2025 7:27 PM]

But not too far away from the truth:-

1. US and EU far right rear its head against globalisation - a byproduct of capitalism - precisely many people don't benefit from it. 

Except for a few rich billionaires.

2. When global population grows and unable to access scarce resources - unrest arises.

Pandemic arises when human population intrude into animal space causing cross infection.

3. As population grow and kill the global climate through industrial pollution, water pollution, - global climate revolt.

小三灾。

LCL (Danny 心), [28/2/2025 7:30 PM]

1. Looking at the geopolitical tussling and economic fight.

2. Looking at global temperature rises.

3. Looking at the preparation of Disease X.

Certainly this is not illogical thinking - but closer to philosophical thinking of the truth.

LCL (Danny 心), [28/2/2025 7:33 PM]

WW2 deep depression, black pandemic and economic/war - is exactly these 3 phenomenon.

LCL (Danny 心), [28/2/2025 7:36 PM]

Don't be surprised that our government are preparing for all these 3 scenarios.

REACH Singapore, [28/2/2025 7:50 PM]

Dear Contributors,

⏰ We will be closing the chat in 10 minutes ⏰

Thank you very much for being part of our Telegram chat and participating actively.

Goodnight!

Megan 😊

REACH Singapore, [28/2/2025 8:00 PM]

Dear Contributors

We will be closing the chat for today.

Thank you very much for being part of our Telegram chat and participating actively.

Goodnight!

Megan 😊

====

REACH (Telegram) 61 -  What are your views on the issues debated about Budget 2025? Which issue resonated the most with you? 

(SK)

27 Feb 2025 (10am - 7pm)

REACH (Telegram)

REACH Singapore, [27/2/2025 9:57 AM]

Dear contributors,

Welcome back! 😊

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Megan 😊

REACH Singapore, [27/2/2025 10:04 AM]

📢 Topic 📢

On 26 Feb (Wednesday) Parliament debated Prime Minister and Finance Minister Lawrence Wong’s Budget 2025 statement on 18 Feb, with 28 MPs speaking.

The topics they covered ranged from the timing of the goods and services tax (GST) hike to cost-of-living concerns and the effectiveness of government spending.

💬 What are your views on the issues debated about Budget 2025? Which issue resonated the most with you?

📌 Timing of GST hike

Leader of the Opposition and Workers’ Party (WP) chief Pritam Singh questionrd the necessity of raising the GST in the last two years, and called it a poor decision given Singapore’s “exceedingly healthy fiscal position”.

Mr Singh noted that even after giving out CDC and SG60 vouchers, the Budget surplus for 2024 had been revised “massively upwards” from $778 million to $6.4 billion, and that the overall surplus from this term of government is set to hit $14.3 billion. This has led many Singaporeans to question the need for higher GST, he said. GST was raised from 7 per cent to 9 per cent in two stages, in 2023 and 2024.

Several MPs rebutted him. They said the Budget surpluses were testament to the Government’s prudent financial management, which has allowed it to provide substantial support to Singaporeans while still saving for the future.

They also noted that inflation had gone up around the world, and that Singapore fared better in managing this than many other countries.

📌 Cost of living still an issue

Several MPs raised how CDC vouchers and cash handouts have not been enough to ease anxiety about the cost of living. They said these measures were a temporary “band-aid”, and called for the Government to put in place more structural support.

The WP chief also noted that PM Lawrence Wong had laid out optimistic top-line statistics for 2024 in his Budget speech. These include 4.4 per cent economic growth, wage increases that outpaced easing inflation, the median income of resident workers rising by 3.4 per cent above inflation, and income inequality being at its lowest since 2000. 

Additionally, Associate Professor Jamus Lim (Sengkang GRC) said annual real basic wages have failed to keep pace with rising costs.

📌 Tracking outcomes of public spending

Several MPs also emphasised the need to track the outcomes of Government programmes. Noting that total public expenditure has almost doubled in nominal terms compared with a decade ago, Mr Singh repeated his call for an independent parliamentary budget office to ensure more accountability and transparency in how tax dollars are used.

📌 Families and leave provisions

MPs also suggested giving large families priority access to large flats and building bigger ones. They said such structural changes would go beyond the monetary support offered under the new Large Families Scheme, and help such families with family planning.

MP Vikram Nair called for a new pipeline of larger format flats, such as jumbo flats, for multi-generational families. Such families may not require individual bedrooms only for their children as they get older, but also potentially for a domestic helper. MPs Liang Eng Hwa and Gan Thiam Poh also asked if the Housing Board can give large families priority for bigger flats.

MPs also called for more government-mandated leave and public holidays, which would help Singaporeans with childcare responsibilities and overall work-life balance. MP Dr Wan Rizal suggested that parents get more childcare leave, on top of the planned increase in shared parental leave to 30 weeks.

📌 Housing suggestions

MPs also proposed solutions for seniors living in HDB flats without direct lift access. For instance, owners of “segmented” units could be allowed to sell them back to HDB at market value, and given priority for Build-To-Order flats, said MP Ang Wei Neng. Such flats could also be leased to workers instead of being resold, he said.

MP Yip Hon Weng also proposed a new fund to explore compact lift solutions for blocks without direct lift access.

REACH Singapore, [27/2/2025 10:04 AM]

📌 Better support for persons with disabilities

MPs cheered the additional support in Budget 2025 for persons with disabilities, but made suggestions for a more inclusive Singapore.

Nominated MP (NMP) Ong Hua Han sketched out two areas that can be made more inclusive for people with disabilities: the arts and sports.

Mr Ong called for performances here to be made more accessible for those with mobility challenges or sensory disabilities. For sports, he suggested renaming the Disability Sports Master Plan (DSMP) – a multimillion-dollar initiative supporting impactful, community-driven disability sports programmes – to the Inclusive Sports Master Plan.

NMP Razwana Begum called for a more inclusive education system, such as for teachers in mainstream schools to be trained to provide effective support to students with special needs.

Mr Ang suggested that the authorities consider providing caregivers of people with special needs a quarterly grant of $200, which would be a meaningful gesture of recognition that will also help ease such families’ financial burden.

🔗 [ST] https://str.sg/8xEN

🔗 [CNA] https://www.channelnewsasia.com/singapore/pritam-singh-wp-budget-lawrence-wong-cost-living-pap-wp-gst-hike-4960751

----

Adam, [27/2/2025 10:06 AM]

When gov realises inflation affects them too

Khai Mun L., [27/2/2025 10:16 AM]

Don't understand why wp keep harping on the timing of gst increase. As though we have a crystal glass to predict that the upcoming year would earn more or not

365, [27/2/2025 10:18 AM]

I would argue that the gst hike should have been done in a single spike of 2% instead of 2 waves of 1%. Truth is there are business owners out there using gst hike as a shield for profiteering motives.

As part of a free market ideology, we cannot really stop them from increasing to the prices they want. However, staggering the hike in 2 waves gives them 2 opportunities to profiteer instead of just 1.

As for the timing with global inflation, most businesses are already going to increase prices already regardless of gst hike. I would argue timing it together gives them less opportunities to hike multiple times. Since it happens together, it is hard to measure how much of an increase can be attributed to gst or inflation individually.

My thought is you increase 1% gst, prices hike more than that. But when you bundle gst with global inflation, the prices should stick closer to the actual overall increase than multiple hikes due to profiteering nature.

Jun Ming, [27/2/2025 10:20 AM]

I feel it is Legit question

Jun Ming, [27/2/2025 10:20 AM]

Look at waffle price

365, [27/2/2025 10:20 AM]

I do agree there's a need for more transparency in how the government is spending. This is to increase accountability on those who are managing the finances and allow more scrutiny of their expenditure.

Especially remembering the bin that costed 800k in 2015/6

Jun Ming, [27/2/2025 10:20 AM]

From 1 to 2

Jun Ming, [27/2/2025 10:22 AM]

In 5 years and what exactly cause the price went up so much nobody knows

365, [27/2/2025 10:22 AM]

Instead of praying that the AGO managed to catch everything once per year, abnormally high expenditure should be prevented by higher accountability with public eyes on them, or to at least be able to identify it quickly before the once per year audit.

Jun Ming, [27/2/2025 10:23 AM]

Not sure they compound interest up or something

Daniel, [27/2/2025 10:25 AM]

I think the leave provision for parents is an important one. There have been a lot of improvements done to the support in the first year (increase in maternity leave, a lot of financial support from the 3rd child onwards). However, as a parent of two children, what really keeps me from having a third child is what comes after. There are 6 days of childcare leave until the kid is in P1, then after that it's 2 only. The 6 days is just enough to cover the days of childcare closure for 1 child, if the second one is in a different school (e.g. childcare centre doesn't offer Kindergarten), then the closure days will be different and the 6 days for both parents are gone. And this doesn't even count all the parents engagement and school events, sickness and doctor's visit. At the end of the year, a big chunk of our annual leave allowance is also wasted on that. I think, this struggle to balance work comittments and childcare arrangements while still finding time for rest is a big obstacle for a lot of people to have more children. (Of course simply giving people more childcare leave might not be an easy solution either, as someone will have to pick up the work).

Kai Bin, [27/2/2025 10:25 AM]

Hi @reachsg3 there’s a typo: *questioned* the necessity

W Goo, [27/2/2025 10:32 AM]

Agree on this. Price goes up will never down. Even if it comes down, majority of the pricing already set up to a standard. $1 to $3, lower to $2.50 then up to $4.

365, [27/2/2025 10:33 AM]

More public holidays will always be welcomed by the general public, but we have to keep a fine balance. 

As a nation that is heavily dependent on trading and foreign investment, we want to attract companies to set up here. Our high rent is already a huge deterrent, and we always say the only resource we have is our manpower. Provisioning more public holiday is essentially cutting down the available labour companies can draw from Singapore.

I am not a parent, so I do not know what goes into preparing for a child. If we were to add more public holidays, I would suggest having one that allows parents to make one time big preparations for their child, like registering for school (please throw more suggestions as I really do not know). Of course, those who are provisioning the service for parents should be duely compensated for working while the rest of the nation is on a public holiday.

Ahin, [27/2/2025 10:35 AM]

The budget says gov support big family... But CDC is household... Then it means big family receive less CDC per capita.. Agree?

Ahin, [27/2/2025 10:42 AM]

Let us be honest... How many of us really take full leave? Although it is on leave, but sometimes still being called amid duty and responsibility... Need to emphasise on quality of leave too... No point to have more leave but cant really make use... Even sometimes leave forfeited because cant be used... Overworked?

365, [27/2/2025 10:56 AM]

This seems to be more company specific than government policy. I do manage to clear my leaves, and very occasionally take calls in between for matters that don't require too much effort from myself.

How would you suggest the government can intervene more on this?

Ahin, [27/2/2025 10:57 AM]

Cash on excess leave is a mandatory... No forfeit leaves...

365, [27/2/2025 11:01 AM]

As an employee, I agree with this. I also want this. 

Thinking from corporate side, is there a possibility that many people will take the cash instead and cause potential cash flow issues for them?

Especially if you think about leaves for those with a higher position and income.

Perhaps we can strike a balance by having mandatory reimbursement until a certain limit.

Ahin, [27/2/2025 11:04 AM]

Persons got different priorities.. Some wants work life balance... They will prefer to use up leaves... Some prefer to have cash due to many reason like savings, household expenditure... They will choose to encash... But if it is forfeit... Then both group wont reap tje benefit... Only the company...

I believe singaporean is happier to be given choices rather than only one solution... Right?

365, [27/2/2025 11:09 AM]

Of course we would want this. I understand that we all want the freedom to either take more leaves or get more cash. If it was implemented, I would be taking full cash out. 

However, government has to consider all sides, especially if we want companies to set up here. Thus, a balance between both sides is required.

A full cash out of leaves will add on to the risk a company has to take, and less wiggle room for them to manage their finances.

Ahin, [27/2/2025 11:09 AM]

If cash is the concern, then the gov can give policy to chip in... Ex: support 50% of cash if it is encash... Or the company can put the quantum... Based on ita condition .. Ex: 1 day leave encash to $100... So the lower income will choose to encash... But the higher income will choose to take leave...

Just imagine... If forfeit... Who is on the loosing end...? If encash... Nobody is losing... Because company also benefit due to lesser leave..

Ahin, [27/2/2025 11:10 AM]

Depend... If you wages is $150 per day... But encash is only $50 per day... Will you take the cash?

Daniel, [27/2/2025 11:11 AM]

I've seen this done overseas. There if you haven't planned your leave by September, in most companies HR will keep chasing you until it's all taken, so that they don't have to pay.

365, [27/2/2025 11:11 AM]

Yes, that may be a way out. I am not arguing for complete forfieture like how most companies are doing right now. The specifics on how the balance is to be struck has to be studied further.

Ahin, [27/2/2025 11:11 AM]

Let us make it extreme... If encash is only $10 per day.. Will you take the cash?

365, [27/2/2025 11:14 AM]

I think we both agree that complete forfieture shouldn't be a thing.

You are also not opposed to there being limits as well in consideration of increased risk for businesses.

How specifically should this be implemented and what kind of limit should there be, is something that we can look into further so we can achieve balance for employees and businesses.

W Goo, [27/2/2025 11:19 AM]

This happen in my company. Is a win win.

Ahin, [27/2/2025 11:21 AM]

Dont you think that by adding leaves also increased the business risk? My point is that although leaves are given by government, Singaporeans should have choice on how to use their leaves based on their own needs... Gov only need to ensure that the benefit is fully used... Not forfeited.

365, [27/2/2025 11:23 AM]

Usually the fall in 1 manpower can be covered by others. It's also why they do not want to have multiple people taking leaves together, just like how they will not want many people to encash together.

While there is still risk involved, it spreads out between financial and manpower risk.

Ahin, [27/2/2025 11:24 AM]

In this scenario, the workers who is cash strapped... Wont be benefitted... They need more cash especially when cost of living is going up.

Adam, [27/2/2025 11:24 AM]

National service actually stole my leave. I got reservist during public holiday. My company system cannot do leave during ph.

So i ask for off in lieu but cannot. I ask for make up pay no response.

Adam, [27/2/2025 11:25 AM]

This is how the country treats our servicemen. As free labor

365, [27/2/2025 11:25 AM]

It's very idealistic to say government should just ensure full benefit for citizens.

The position we are now, we still want foreign corporations to invest in us, and there are also SMEs owned by citizens as well.

Adam, [27/2/2025 11:25 AM]

I call ns hotline say talk to hr and hr say talk to ns

Ahin, [27/2/2025 11:26 AM]

Like i suggest... Just roll out encash system... At least it is useful for current situation where cost of living is high.

Ahin, [27/2/2025 11:26 AM]

Also it will benefit more to lower middle income... True?

Ahin, [27/2/2025 11:28 AM]

If not wrong, gov pay $$ to company for NS leave... Right? Then talk to hr that company should pass gov $$ to you.

365, [27/2/2025 11:29 AM]

I would say roll out with limitations (like fixed amount per day as what you previously suggest, or cap certain amount for whole year, or maybe other suggestions).

Without limitations, the higher income group actually benefit a lot more by having a payout per leave and usually having more leaves.

365, [27/2/2025 11:29 AM]

This I think should be brought up to your mp. Certainly there can be improvements here to be made fairer for NS men.

Ahin, [27/2/2025 11:30 AM]

Not really... Example.. If CEO is paid $500 per day... But encash is only $50 per day... Then it would only benefit the worker whose salary is below $50 per day.

365, [27/2/2025 11:31 AM]

Then this to me, comes under encash with limitations, which I think we both agree on. But whether this should be the specific limitation is what I think the government can further look into.

Ahin, [27/2/2025 11:32 AM]

What do you mean with limitation?

365, [27/2/2025 11:34 AM]

What I would think of normal encashment, is each day leave amount is pro rated to your pay. Then full encashment means per day pay * number of leaves.

The limitation I mention is the monetary limitation of payout, so businesses can still shoulder the financial burden instead of risking a huge cash flow out by having huge payout due to multiple employees encashing.

W Goo, [27/2/2025 11:36 AM]

I adjust my sentence. Yes I agree on your point, standing on employee point of view. So allowing certain leave to convert into cash will help.

여자친구, 첫사랑 🏆, [27/2/2025 12:01 PM]

Should be able to fluctuate. Look at the price of eggs in the US.

W Goo, [27/2/2025 1:05 PM]

Ya, I saw on YouTube and was wondering how on earth are they surviving.

LCL (Danny 心), [27/2/2025 1:11 PM]

*GST and Timiing of GST versus WP proposed alternative revenue measures*

1. As a democrative system, both the incumbent and the elected oppositions have proposed solutions in Parliament to solve our national problem - specifically ensure our fiscal budget are healthy to finance our yearly government expenditure (without incurring big debts like many countries) and ensure population are able finance our taxes without incurring a heavy burden in our cost of living.

2. We need to examine each and every solutions proposed - be it from the incumbent or the oppositions - as they are the voters' representative to govern - and we need to ensure their solutions are robust, feasible, balance in the intending outcome versus constraints in each solutions, as well as the consequences of each solution --- to determine which solutions are the best in solving Singapore national problem - specifically fiscal viabililty.

*GST hike 2% and its timing* - proposed by the Incumbent

1. This fiscal approach has been discussed multiple times - and everyone knows its merits, its pain points as well as its outcome. 

Let us briefly go through again to keep us focus in the solution.

a. Eg. if my monthly expenses is $4,000 or $48,000 yearly, my annual total GST hike of 2% will be $960. 

My household now receive $800 CDC voucher.

Each individual received $800 to $600 SG60 vouchers.

These is more than cover the GST hike of 2%.

Also my annual yearly expenses $48,000 don't change from previous year despite the inflation - and yet my whole household in total receive more than $10,000 (combine individual + household) government grants, vouchers - government tax transfer.

I don't see a "sensational turbo charge inflation - fuel by GST hike of 2%".

b. In fact, our family member have salary increment and bonus annually - that also cushion against inflation and GST hike.

The sensational "Turbo charge inflation fuel by GST hike" --- don't seems to correlate. 

c. The worry is that stall owners will exploit the GST hike to increase their food price or good prices.

But notice that vast majority of the food stalls did not increase their prices after Lunar New Year. 

I checked with a few stall owners who told me, prices increase so high already, cannot afford to increase again. Else customers will go to other stalls.

It dawn on me that market forces in a market economy - do put a check on how stall owners price their products. The moment some stall owners try to exploit the GST hike to profiteer, customers move to other alternative stalls - and the profiteering stalls lose business.

2. And let us look at the outcome of the GST hike of 2% - it helps the Government to secure a $6.8 billion surplus for this year.

And in the current term of Government, a budget surplus of $14.3 billion - a very good result compare to many foreign countries that have been incurring budget deficit year after year (pre-post covid) and incurring big debt (that will need to be service by their younger generatons and future descentdants).

Conversely, Singapore Government maintaining a healthy budget surplus despite challenging pre-post covid - is doing a very good job.

3. Despite the fact, many popuplations are receiving yearly generous Government tax transfer and grants - for every strata of the population.

Hence the GST system is a fair, broadbase and balanced tax system - despite on the optics - it impact every strata of the population - but in actual fact - lower, middle and even lower upper middle income benefited from the tax transfer of the GST hike -- not worst off, certainly not "turbo charge inflation".

여자친구, 첫사랑 🏆, [27/2/2025 1:22 PM]

But at least you can see the price of eggs there have fallen before sometimes by half and no economic disaster happened.

LCL (Danny 心), [27/2/2025 1:52 PM]

1. Now let us examine WP propose alternative revenue measures.

2. I dig out the news article in 2022 - whereby WP propose a few alternative revenue measures - and we will examine them one by one :-

https://www.channelnewsasia.com/singapore/wp-object-budget-2022-gst-hike-pritam-singh-2525071#:~:text=Workers%27%20Party%20disagrees%20with%20GST%20hike%2C%20will%20object%20to%20Budget%202022%3A%20Pritam%20Singh

a. Put a portion of land sales into recurring revenue

b. Reserves contribution - Adjusting the Net Investment Returns Contribution (NIRC) to allow for recurring spending to be raised to 60 per cent from the current 50 per cent.

c. Corporate taxes

d. Wealth taxes - tax capital appreciation

e. Externalities - increasing "sin taxes" like gambling, tobacco and alcohol

LCL (Danny 心), [27/2/2025 1:53 PM]

*Put a portion of land sales into recurring revenue*

1. Singapore is a very small Country, a little red dot. Hence land space is very limited and is a premium - that need to be carefully safeguarded and effectivelyy deployed to attract investment, create jobs, create housing places for population, create spaces for recreation and safeguarding greeneries to ensure climate sustainability.

2. Hence, land spaces are our reserves to accumulate our Sovereign Wealth to ensure we save to safeguard our younger and future generations - while we earn income through land sales and plough back to our Sovereign Funds for investment and further grow our Sovereign Funds.

3. By doing so, our Sovereign Funds can earn yearly income with 50% plough back as capital to our Soverign Funds and another 50% to be used as NIRC to be used to finance our recurrent fiscal budget

4. We cannot use a portion of the sales of land spaces to be used to finance our recurrent fiscal budget because :-

a. It will deplete our Capital Reserve (as land is our Capital Asset) - and using portion of our revenue from land sales will lob off our capital that suppose to plough into our Soveriegn Funds as Investment Capital to earn higher income.

b. We will suffer further loss in earning more Investment income from Sovereign Funds - and this will reduce our earning capacities to be able to plough back to Sovereign Fund as Capital (as our 50% earning will be grossly reduced).

Conversely, the 50% of NIRC that can be earned from lesser capital will also be reduced - and unable to fund more yearly recurring fiscal spendings.

5. In effect, directly tapping a portion of land sales to fund recurring fiscal spending is a "Turbo charge measures to raid our reserves and Sovereign Funds, and deplete our earning capacity from Sovereign Funds to earn more income to grow our NIRC"

6. As spending needs rises, there is a tendency to take an easy way out - to sell more and more lands at turbo speed.

Soon we have no more land to sell, no more spaces to live and no more spaces to set up office for work.

7. Objectively, this is an extremely bad "revenue measure" - with very adverse consequences --- depleting our Reserves and Sovereign Fund -- and our younger and future generation will have lesser and lesser Sovereign Wealth and Reserves in the future - as our land stock are depleted - when spendings grow - because selling lands is the "populist measures" to please voters - but will "kill our goose that lay our golden eggs".

Raiding our reserves - at turbo charge !

365, [27/2/2025 1:57 PM]

Agree, recurring budget should ideally be financed only by sustainable recurring income, instead of finite sales from limited resources.

LCL (Danny 心), [27/2/2025 1:57 PM]

Yes 

Correct.

Adam, [27/2/2025 2:01 PM]

Land is only leased out though. Can resell after 99 yrs for greater value

LCL (Danny 心), [27/2/2025 2:03 PM]

Within one year, Singapore tiny red dot lands will be used up.

Cannot wait until 99 years.

365, [27/2/2025 2:03 PM]

You lease it out afterwards means that selected piece of land cannot generate income for the lease period. Not sustainable to include in yearly budgeting.

Adam, [27/2/2025 2:04 PM]

Does our mrt generate income? Or hospitals? Whats the point of building infra if it doesnt generate income?

365, [27/2/2025 2:04 PM]

Within that lease period, how much more land can we continue leasing to keep getting income? You essentially just start locking up areas of Singapore, unable to pivot to different development needs should it come to that

Adam, [27/2/2025 2:04 PM]

Maybe we shouldnt build at all. Follow hk old model of trickling out land so the ultrarich can buy our forests slice by slice

365, [27/2/2025 2:04 PM]

Building infra and land sales revenue is vastly different. Land sales revenue is a one time thing during the sales. The income you generate from the infra developed is not looped together with land sales revenue

Adam, [27/2/2025 2:05 PM]

Yeah. Looking purely at land sales revenue is massively flawed

REACH Singapore, [27/2/2025 2:07 PM]

📢 Topic 📢

REACH Singapore, [27/2/2025 2:07 PM]

MPs cheered the additional support in Budget 2025 for persons with disabilities, but made suggestions for a more inclusive Singapore.

Nominated MP (NMP) Ong Hua Han sketched out two areas that can be made more inclusive for people with disabilities: the arts and sports.

Mr Ong called for performances here to be made more accessible for those with mobility challenges or sensory disabilities. For sports, he suggested renaming the Disability Sports Master Plan (DSMP) – a multimillion-dollar initiative supporting impactful, community-driven disability sports programmes – to the Inclusive Sports Master Plan.

NMP Razwana Begum called for a more inclusive education system, such as for teachers in mainstream schools to be trained to provide effective support to students with special needs.

Mr Ang suggested that the authorities consider providing caregivers of people with special needs a quarterly grant of $200, which would be a meaningful gesture of recognition that will also help ease such families’ financial burden.

🔗 [ST] https://str.sg/8xEN

🔗 [CNA] https://www.channelnewsasia.com/singapore/pritam-singh-wp-budget-lawrence-wong-cost-living-pap-wp-gst-hike-4960751

LCL (Danny 心), [27/2/2025 2:29 PM]

*Adjusting NIRC from 50% to 60% to finance yearly recurring fiscal spending*

1. Another easy way out revenue measure. But what is the financial adverse implication for everyone?

2. In 2025, our NIRC is $27.1 billion to be used to finance our fiscal spendings in 2025.

3. That means another $27.1 billion will be plough back to our Sovereign Fund as capital to earn more income.

4. If we add 10% more to NIRC for spendings, it will means $32.52 billion will be used for NIRC. 

5. $5.2 billion will be taken out from our Sovereign Fund capital, and assuming our rate of return is 5% on average, will lose our chance of churning out an income of $271 million from Sovereign Fund.

6. So what have we lose?

a. Our Sovereign Fund capital that can earn more NIRC get smaller and smaller.

Not wise, because if we make our Soverign Fund capital bigger, we can earn more NIRC to finance our recurring yearly fiscal spendings.

By increasing from 50% to 60% NIRC upfront - we are making our Sovereign Fund capital smaller --- 1st loss.

b. 2nd loss, the earning capacity to earn more NIRC become smaller as our Sovereign Capital become smaller.

7. So increasing NIRC from 50% to 60% is a very bad idea - because we experience double whammy loss.

In effect we are bleeding our "Goose that could lay more golden eggs".

8. In effect, we are sending a wrong signal to our population - that, we are willing to spend more of their wealth (supposedly entitle to them) - to reap immediate gratification for our current population at their expense.

50-50% is a good signal --- to ensure current population use 50% of the NIRC but reserve 50% for our younger and future generations.

We don't "STEAL" your share and your entitlement.

We preserve your wealth and your entitlement ---- 50-50%.

9. WP 60-40% is to steal your wealth, your share and your entitlement - little-by-little - start with 10% first....

Next time if spending needs rises, not enough, an easy way out take 20% more, then 30% more.....

Easy mah, just take....

Young generations, future generations not our problem now.

Win votes more important...

Hence I rate this revenue measure - a Bad measure!

Jun Ming, [27/2/2025 2:42 PM]

For arts and sports we should support olympic trainees to go for a modified NS as mention previously by one of the MP. Where 9 weeks bmt where the vocation is to continue to train for the competition. 

Arts wise we can seek ways to allow more arts revenue. I remember few years back nft is kind of hot, maybe we can go along this line to increase revenue of arts to make it relevant.

Jun Ming, [27/2/2025 2:42 PM]

Perhaps make a national sports day and national arts day for holiday

Jun Ming, [27/2/2025 2:43 PM]

Where sport item and art items have discount

LCL (Danny 心), [27/2/2025 2:52 PM]

*Higher Corporate Taxes*

1. Foreign investors and businesses are willing to come to Singapore to invest and set up offices, plants, RHQ - precisely we are adopting an attractive Corporate taxes, and for some strategic companies and business - even tax exempt.

2. By doing so, our Government is able to create more jobs, in fact higher salary, high value jobs for our population.

3. We previously are competitng with competitive economies like HK, S Korea, Japan and other developed economies to attract high value investors and now increasingly low cost competitive ASEAN economies like Indonesia, Malaysia, Vietnam, Thailand etc.

4. Singapore are known for being a "tax haven" - that is why we are so successful to attract FDI (Foreign Direct Investment) year after year..

5. Increasing more corporate taxes - will be a sure way to drive out foreign investors and our business.

Also a sure way for failing to attract FDI into our shores

6. Now with global geopolitical headwinds - whereby protectionism, onshoring become the norm -- as  nearshoring and friendshoring are also chuck aside ---- increasing corporate taxes will be an extremely bad idea --- because foreign investors, our business will leave us.

7. Even Johor SEZ are offering tax exempt or very low tax incentive to lure investors --- WP say raise more corporate taxes?????

8. Then I can be sure more people will lose jobs, retrenched as investors and our business pull out!

Bad revenue measure !

RY, [27/2/2025 2:58 PM]

It is a good suggestion that MP Ang is proposing caregiving grant to caregiver

As some gave up up their full-time work looking after sick elderly and handicapped family members

However, this grp of family caregiving role, they are not paid and sacrifice time/efforts, but their contribution not recognised and appreciated by family/others

The current AiC Home Caregiving Grant is direct to the patient bank a/c and not to the caregivers

And caregivers, bec not working actively, they also have limited income for their livelihood

RY, [27/2/2025 3:04 PM]

Also, taking care of special needs family members, the caregiver require double/triple efforts than others

Hope govt may provide more support or some income to those family members doing caregiving role at home also

RY, [27/2/2025 3:07 PM]

I am really glad that in 2025 Budget, there are some good announcement for family with disability 

Hope Govt may give more support to this grp of people

LCL (Danny 心), [27/2/2025 3:09 PM]

*Wealth taxes - tax capital appreciation*

1. Singapore is one of the World Financial Hub.

2. We attracted one of the highest family offices (ultra rich families) to put their fund into Singapore financial system to help them to invest and grow their wealth

3. By doing so, Singapore financial systems like our local banks, insurance companies and other financial institutions can earn commission, wealth management fees, offer loans, provide credits, create financial instruments to earn profit and grow our wealth --- and create many high value high salaries financial jobs for our people.

4. In fact, a large part of our GST are contributed by the family office and other ultra rich individuals and families - in which almost every strata of our population have benefited from the GST tax transfer to us every year - as they pay income tax, property tax, GST, COE, stamp fees, ABSD, etc.

5. Singapore is a tax haven, with good infrastructure, good stable government, skilled and knowledgeable workforce - hence ultra rich individuals, family office, rich investors come in drove to put their money into our financial system to grow their wealth.

6. If we tax wealth tax on capital appreciation, guarantee there will be a mass outflow of money from our financial hubs - and our local banks, financial institutions, insurance companies will collapse.

And our high value, high income financial jobs will be lost enmass.

7. This is what happens to many Countries introducing wealth tax - eg. UK, Belgium, Japan, South Korea, German, France, Spain, Netherlands, US California - whereby many ultra rich transfer their funds out.

8. Hence WP revenue idea of levying wealth tax - a very bad idea!

LCL (Danny 心), [27/2/2025 3:10 PM]

Several countries have introduced wealth taxes and inheritance taxes that may impact ultra-high-net-worth individuals and drive out wealthy funds. Here are a few examples:

- *Belgium*: Has an inheritance tax rate of up to 80% ¹.

- *Japan*: Levies an inheritance tax of up to 55% ¹.

- *South Korea*: Has an inheritance tax rate of up to 50% ¹.

- *Germany*: Also has an inheritance tax rate of up to 50% ¹.

- *France*: Imposes an inheritance tax of up to 60% ¹.

- *Spain*: Has a wealth tax, with rates ranging from 0.2% to 2.5% ².

- *Netherlands*: Has an inheritance tax rate of up to 40% ¹.

- *United States*: Some states, like California, impose an inheritance tax, while others, like Florida, do not ¹.

It's worth noting that while these taxes may drive out some ultra-rich funds, they are also designed to address wealth inequality and generate revenue for public services.

Source :- Meta AI

RY, [27/2/2025 3:15 PM]

I recently helping my elderly disabled illiterate neighbour with her 2nd wheelchair replacement with AiC, as the 1st wheelchair already spoilt 

Bec of some issues with this elderly IC, the wheelchair appln is now pending at AiC 

Understand there is SOP/procedure for any subsidy appln, but hope AiC may have some flexibility in handling such appln 

Bec the elderly already perm disabled, to make a trip to ICA is quite tedious also

365, [27/2/2025 3:18 PM]

Gst is probably the best way to tax the ultra wealthy. Wealth tax drives them out, because nobody likes to be penalized just because they are holding more wealth. If we charge for example 10% wealth tax, they can easily move to other countries. It is a very easy move for the ultra wealthy. 10% of 0 is still 0.

Conversely, we attract them to park their funds here, it gives our banks more capital to work with.

The nominal increase in gst that they will be paying is huge. The ultra wealthy do not like to be penalized, but they are usually price-insensitive, so they would think less about the gst.

Not only are we able to keep their funds with us, we also extract more tax revenue from them compared to the middle and low income population.

Also, the gst applies to foreigners traveling to and spending in Singapore. This means we can take in more foreign tax revenue and redistribute it to the middle and low income population.

LCL (Danny 心), [27/2/2025 3:19 PM]

Yes.

This is also my conclusion.

Thanks for putting the comments in context.

LCL (Danny 心), [27/2/2025 3:25 PM]

*Taxing Externalities - increasing sin tax eg. gambling, tobacco and alcohol*

1. According to Meta AI information, Alcohol is taxed at $88 per litre of alcohol.

2. Tobacco  is taxed at $446 per kg.

3. Cannot find information on tax on gambling.

4. Honestly, I don't indulge or consume any of these "sin goods" and I have no compassion for them even if higher taxes are levy on them (because they spoil the health and well-beings of the people).

5. But I got no clue what percentage tax increase that WP intend to levy on them and will the consumers of such sin goods bite and buy?

6. How much tax revenue will WP able to collect from such tax? I got no clue.

7. Can we depends on such taxes to finance yearly recurring fiscal spendings when we got no clue how much tax revenue will we be getting in the end?

LCL (Danny 心), [27/2/2025 3:34 PM]

1. Hence to conclude, I trust the Incumbent GST measure to raise revenue to finance our fiscal spendings, keep a balance budget without incurring big debts for our population and yet keep the large part of our population shielded from GST hike and inflation hike (in fact every year, GST tax transfer give us profit for the majority of the population).

2. As for the opposition, my assessment is "not up to mark" - as they will push Singapore into Economic and Financial disaster - and deplete our reserves and Sovereign Wealth that suppose to leave as inheritance for our younger and future generations.

REACH Singapore, [27/2/2025 4:08 PM]

📢 Topic 📢

REACH Singapore, [27/2/2025 4:08 PM]

MPs cheered the additional support in Budget 2025 for persons with disabilities, but made suggestions for a more inclusive Singapore.

Nominated MP (NMP) Ong Hua Han sketched out two areas that can be made more inclusive for people with disabilities: the arts and sports.

Mr Ong called for performances here to be made more accessible for those with mobility challenges or sensory disabilities. For sports, he suggested renaming the Disability Sports Master Plan (DSMP) – a multimillion-dollar initiative supporting impactful, community-driven disability sports programmes – to the Inclusive Sports Master Plan.

NMP Razwana Begum called for a more inclusive education system, such as for teachers in mainstream schools to be trained to provide effective support to students with special needs.

Mr Ang suggested that the authorities consider providing caregivers of people with special needs a quarterly grant of $200, which would be a meaningful gesture of recognition that will also help ease such families’ financial burden.

🔗 [ST] https://str.sg/8xEN

🔗 [CNA] https://www.channelnewsasia.com/singapore/pritam-singh-wp-budget-lawrence-wong-cost-living-pap-wp-gst-hike-4960751

Moses Kor kwang loong, [27/2/2025 4:16 PM]

This is the way,but hike for GST muz be reduced

W Goo, [27/2/2025 4:39 PM]

Don't judge, or label my question as opposing yet. I'm someone tying to make a living and suffocating by all the hike. Is this the ONLY way or there are better ways to it?

Hanny, [27/2/2025 4:42 PM]

People simply have higher education and better skills. Hence, higher income.

W Goo, [27/2/2025 4:43 PM]

If people are well to do and knowing there are food on the table even economic is bad when compared to people who are balancing on a thread not knowing how to put food on the table is totally a different perspective towards Gov moved.

W Goo, [27/2/2025 4:44 PM]

It leads to if now is a good time to have it increase.

365, [27/2/2025 4:46 PM]

The unfortunate fact is there's no policies where everyone wins, but what benefits Singapore as a whole the most.

While we should not let the lower income group fall behind even more, their situation also should not be the sole consideration.

What may be able to be done to improve upon the policies being pushed out is maybe adjusting the allocation to help the lower income more. It's more of a finetuning thing.

Hanny, [27/2/2025 4:47 PM]

The key is to ensure we have enough money to transfer to those in need. This group of people will always be there as Singapore moves to higher value added jobs.

W Goo, [27/2/2025 4:48 PM]

Agree. That's why I'm asking is this the ONLY way or is there a better solution.

Hanny, [27/2/2025 4:48 PM]

Let look at the banking sector, the headlines show retrenchment. However they are still hiring.

365, [27/2/2025 4:50 PM]

I don't think anyone can claim it is the only way, because you don't know what you haven't thought of. But it seems to be the best out of the options we have came up with.

W Goo, [27/2/2025 5:07 PM]

Totally agree on this. That's why all suggestions is a valid suggestion even it's not well plan yet. I can't deny a person leaning towards certain direction (is their choice). But I do welcome people who look out for certain area when alot of people are only looking at the big picture. Majority seat are there to provide a better solution. And I don't think anyone can claim it's the ONLY way. If our incumbent can pound their chest and tell us firmly to follow like LKY did. We will gave wholeheartedly. I follow current gov, but no confidence. That's all.

Ethan, [27/2/2025 5:09 PM]

Cut income tax, cut social spending, cut public spending.

Ethan, [27/2/2025 5:10 PM]

strong disagree on this. for those who are in need, its more about opportunities for them to be uplifted. and not money to be transferred to them via CDC vouchers, grants, etc.

J See, [27/2/2025 5:10 PM]

i also don't know why there is all this back and forth on the GST ... let's be basic it is a consumption tax ... food of course we all need to buy and if have less then hopefully we can do with one or two non-food items la ... so if we don't pay into the system, can we benefit from the system?  Do people want to have one MRT line less?  I don't benefit from direct MRT station by the way I take a bus that is super crowded just to reach 5 bus stop to the MRT station and it takes 25 mins (i timed it many times because every bus stop it took very long to load ... so crowded and we all know between 8 to 9.15 peak.  But I paid taxes for years and now i don't even get a seat (often la)

Jun Ming, [27/2/2025 5:12 PM]

The thing is for some food the increase of price is unreasonable

J See, [27/2/2025 5:12 PM]

Exactly !!! and then people will cry

J See, [27/2/2025 5:12 PM]

Yes i agree ... opportunists

Jun Ming, [27/2/2025 5:13 PM]

I just don't understand why waffle price shoot up so much

Jun Ming, [27/2/2025 5:13 PM]

60%shoot up

J See, [27/2/2025 5:13 PM]

To  me ... there is no perfect system!  at least during Covid-19 years ... we all pull through ... speaks volume right?

Ethan, [27/2/2025 5:14 PM]

look at those who cry and figure out whats the issue. 

if you're just sitting there to collect grants and cry about it. dont think you deserve any in the first place. 

If you're disabled, cant generate an income on your own, sure you'll need monetary help. anyone apart from that, who are abled body abled mind should earn a living on their own. the gov can provide the opportunities. but the income should be earned

Jun Ming, [27/2/2025 5:15 PM]

Which specific ingredients shoot up so much where even chat gpt is beating around the bush stating general reasons which affects every food

Ethan, [27/2/2025 5:16 PM]

taxes are contributed by hard working workers, be it the rich or the middle income. they earned it. 

by distributing to the poor, figure out why are they poor. if its due to disaibilities, sure they need monetary help. if you're poor due to poor life choices, or bad habits, then the government should provide the opportunity for you to be uplifted, but no monetary support.

J See, [27/2/2025 5:16 PM]

I actually want to give feedback (outside of this topic la but ..) everyday i go out i have to "siam" a lot of times ... do the speeds of PMA or PMD or etc really walking speed?  Next time got this topic i say more la.  I am a "younger" senior senior and you have to be very alert ... even at traffic crossing i have to "siam"

J See, [27/2/2025 5:16 PM]

Labour cost!! is one

Jun Ming, [27/2/2025 5:17 PM]

But compare to other food the increase of other food is not that high

J See, [27/2/2025 5:18 PM]

Noticed eggs have gone up and not down!  but honestly how many eggs in one waffle?  it is labour, rental etc

J See, [27/2/2025 5:18 PM]

agree

Jun Ming, [27/2/2025 5:18 PM]

So labour, rental does not actually do justice.

Jun Ming, [27/2/2025 5:19 PM]

Maybe should email to talking point why waffle price shoot up drastically

Hanny, [27/2/2025 5:23 PM]

Ideally yes. We want to uplift them. However, there will be people who cannot be uplifted.

J See, [27/2/2025 5:24 PM]

Give chances, give opportunities but ... these/they must want to uplift and work on it

Jun Ming, [27/2/2025 5:26 PM]

I mean we need to provide all possible ways to help them change

Ethan, [27/2/2025 5:26 PM]

and if they dont want to but the gov is still giving them money.. i mean how is this justified. you tax hard working workers and transfer the money to lazy bums?

Jun Ming, [27/2/2025 5:27 PM]

Such as counseling, guiding them to be a good person.

Ethan, [27/2/2025 5:27 PM]

and money should not be on the top of it. 

just look at the recent budget, immediately after the budget, charts are going around to illustrate how much 1 person can get over the course of a year

LCL (Danny 心), [27/2/2025 5:27 PM]

In an economy, if government cut spendings - it means less business activities - profit go down - cut jobs - or close shops.

Demultiplexer effects kick in.

Recession kicks in.

No purchasing power.

Deflation sets in.

Investors pull out, more job loss.

Deep recession.

Moses Kor kwang loong, [27/2/2025 5:27 PM]

I agree

365, [27/2/2025 5:28 PM]

I think the government has steered away from that. They have emphasized that they also do not want a situation whereby citizens are incentivised to wait for handouts. Example is the payout for involuntary loss of jobs, there is help to temporarily help them, but will not be permanent so they will not be reliant on it.

Jun Ming, [27/2/2025 5:28 PM]

If someone is addicted to bad habits we need to help them to quit the bad habits

Moses Kor kwang loong, [27/2/2025 5:28 PM]

We must reduce GST first a bit

Ethan, [27/2/2025 5:28 PM]

fully agree, guidance, support, trainers, etc

LCL (Danny 心), [27/2/2025 5:29 PM]

Reduce by how much?

Jun Ming, [27/2/2025 5:29 PM]

And such service should include in budget to have it free

Jun Ming, [27/2/2025 5:29 PM]

Or a small amount of money

Ethan, [27/2/2025 5:29 PM]

free or a small sum, like 5 dollars~

Ethan, [27/2/2025 5:29 PM]

agree

Moses Kor kwang loong, [27/2/2025 5:30 PM]

Maybe by 0.5% as a start first

Jun Ming, [27/2/2025 5:31 PM]

I remember there is something called mental health cluster but I wonder why it is not included in the budget

Hanny, [27/2/2025 5:31 PM]

Our social security system is not like the western system. Ours still encourages people to work.

LCL (Danny 心), [27/2/2025 5:32 PM]

1% cut is only $480 for me additional GST.

2% cut is $960.

I received $800 CDC vouchers.

Another $600 to $800 SG60.

More than cover my GST hike $960.

Ethan, [27/2/2025 5:33 PM]

but what i'm seeing is that our taxes are creeping up over the years.. 

GST, income tax, property tax, wealth tax, etc. and handouts are also increasing every year.

Hanny, [27/2/2025 5:35 PM]

We need to recognize that Singapore is aging fast. Old people consume more healthcare services. This is expensive.

Hanny, [27/2/2025 5:35 PM]

And I don’t think this situation is going to get better.

Hanny, [27/2/2025 5:37 PM]

It’s a trend in every developed countries

W Goo, [27/2/2025 5:42 PM]

That's why what are we going to do? In the future. We can't just stop here at the conversation and put it as what it is. We need a forward looking Gov which bring their citizens forward and at the same time not killing us (maybe I'm the only one felt getting strangle 😂)

W Goo, [27/2/2025 5:43 PM]

REACH is here to connect, to feel the ground, to get feedback or more idea on how we can change.

LCL (Danny 心), [27/2/2025 5:43 PM]

Also want to address a complain - why give SG60 as a voucher?

Why don't give cash, I can put it into my savings.

In fact it come back to the square one as savings.

If I need to buy food or grocery everyday, I need to use cash to buy.

If I have $600 - $800 SG60 vouchers, I will use the vouchers to buy food or grocery because everyday I need to eat without using my cash.

So $600 - $800 cash become untouched and go into my savings.

Rather than getting cash go buy toto or cigarettes or alcohol.

W Goo, [27/2/2025 5:48 PM]

We don't need ai generated answer to tell us what Gov did and how it works. Gov is as good as a "few people" sitting on the board brainstorming for solution to run a country. Yes... Those people need to be paid more. Look at the rest in the cabinet! We expect more better idea for so many millions dollars MP to lead us.

LCL (Danny 心), [27/2/2025 5:49 PM]

Oh incidentally they are not AI generated ideas.

But human brain generated ideas...

W Goo, [27/2/2025 5:49 PM]

This is my feel on the ground. "Never ending increment fare hike"

W Goo, [27/2/2025 5:50 PM]

I'm not saying it's ai generated idea ☺️

LCL (Danny 心), [27/2/2025 5:50 PM]

Intricate understanding of the economy to come up with feasible ideas.

If AI can generate, why oppositions cannot generate economically feasible ideas?

W Goo, [27/2/2025 5:53 PM]

Hai... This forum needs to know ground feel and if better, some smart person (not me 😂) can provide better idea to help REACH to feedback to respective Gov agency so they can think about it (more brain is better then just a few right) Nothing to do with opposition. Any person can lean towards anyone (personal choice with respect) 🙏. Nothing to do with opposition or incumbent to be honest. I go with PAP but I don't cancel of opposition just like that. We need people to voice out.

LCL (Danny 心), [27/2/2025 5:57 PM]

Understood.

This topic arises because Singh hammer the GST unfairly.

So must put everything on the table to see whose solutions are better.

Everyone can see now

LCL (Danny 心), [27/2/2025 5:57 PM]

I didn't cancel the opposition.

In fact I quite like the idea of taxing sin goods.

But effect not big.

365, [27/2/2025 5:59 PM]

I am in agreement with this.

The 2 suggestions from opposition that I align with is the call for more transparency and scrutiny in spending, and a possible sin/vice tax.

365, [27/2/2025 6:00 PM]

Though I have to admit my support for sin/vice tax is more on possible social changes more than economic benefit

LCL (Danny 心), [27/2/2025 6:01 PM]

Me too

LCL (Danny 心), [27/2/2025 6:06 PM]

Actually there are some spendings cannot disclose.

Because of national security.

365, [27/2/2025 6:07 PM]

Please educate me on the implications, and if you think there are any that could reasonably be disclosed.

Jun Ming, [27/2/2025 6:07 PM]

Good idea but hard to implement

LCL (Danny 心), [27/2/2025 6:08 PM]

Cannot be disclosed - national security.

LCL (Danny 心), [27/2/2025 6:09 PM]

Just like some revenue source from sovereign funds also cannot be disclosed because of State or other speculative attacks on our economy and financial system.

LCL (Danny 心), [27/2/2025 6:10 PM]

Space industrial sector a necessary good move.

Critical to be self sufficient.

A strategic necessity.

W Goo, [27/2/2025 6:13 PM]

Sorry off topic a bit I always tell my son. You are not born with silver spoon, you don't have a wealth family. Gov only can take care of majority (impossible every single one). Even if they hit 55% of achievement they are consider a successful governance. You might be the left over lot. You need to study so have more options. Join more groups to enlarge your circle. Know what country is going towards. Know Gov policy so you can tap on it. Last but not least most importantly... Invest early and stay alert on every opportunity. By then you are in your mid, you are ready for retirement.

LCL (Danny 心), [27/2/2025 6:14 PM]

,,,👍

LCL (Danny 心), [27/2/2025 6:19 PM]

Unlike running a business, which spending can be transparent.

Running a State touches on security, safety, intelligence and some very sensitive areas.

Sign with OSA.

Hence all government budget are run by incumbent government and not a transparent budget body.

And also many of the times, need Ministers or PM to intervene domestically and international intervention.

An independent body cannot do this task - because no foreign government will deal with non political appointees.

365, [27/2/2025 6:21 PM]

The more I think about birth rate crisis, the more I realize that it's actually a spiral that is hard to break.

Let's say gen0 is supported by gen1, and there's a lot fewer gen1 than gen0 because of gen0's low birth rate, gen1 feels the cost pressure and would be less inclined to give birth, thus gen1's birth rate will be lower than gen0.

So when it's gen2's turn to support gen1, the same pattern repeats again.

I think it's imperative to find a way to break this cycle. The government needs to identify what those who want to be parents but are held back, wants.

I belive monetary support is only one part of it, but do we need more in terms of facilities or services to help them? Do they need help with more elderly care, or is it a lifestyle change that they do not want to compromise.

LCL (Danny 心), [27/2/2025 6:23 PM]

Hence WP suggestions of an independent budget body is off the mark.

LCL (Danny 心), [27/2/2025 6:25 PM]

Wah...

News that Elon is cutting starlink satellite from Ukraine if Ukraine don't sign mineral deal.

Comms cut off - Ukraine missiles and drone lost direction.

Troops cannot communicate.

Ukraine troops sure kenna hammer

W Goo, [27/2/2025 6:26 PM]

Nowadays young generation mindset is different from older generations. As a parent myself even if Gov gave me more I don't feel it's justified, unless a min free 3 HDB, a maid, free child education from nursery, very low health care fees etc. It's TOTALLY impossible. So to your ans is... Yes money is only part of it unless otherwise.

LCL (Danny 心), [27/2/2025 6:27 PM]

Ukraine president got to sign their country away $500 billion.

Should call his budget office to sign.

No parkay

W Goo, [27/2/2025 6:32 PM]

Policy might be good to draft up as per person then per household. For example if I earn more then my wife, but my family is a single child family Vs my wife family with siblings of 3 to shoulder the fees of elderly. Will it be good to base on per person income so that correct help in term of monetary is distributed fairly. This might help offset the idea of not wanting children.

365, [27/2/2025 6:36 PM]

If it is specifically to offset the cost for elderly care, I think it's fair if the amount is distributed per elderly.

There can be a pool of funds distributed just to assist in elder care. Then measures and policy specific implementation comes in to prevent abuse.

Fund amount allocated can be based off of the elderly's health, such as existing medical condition and mobility.

W Goo, [27/2/2025 6:37 PM]

Ya, u are more specific, as in elderly fund. This is one way to help lesser financially.

REACH Singapore, [27/2/2025 6:46 PM]

Dear Contributors,

⏰ We will be closing the chat in 15 minutes ⏰

Thank you very much for being part of our Telegram chat and participating actively.

Goodnight!

Megan 😊

LCL (Danny 心), [27/2/2025 6:46 PM]

Channel 8 news now.

Trump say no security guarantee to Ukraine and no offer of NATO membership.

But Ukraine president must sign mineral deal.

Else starlink satellite cut off.

Wow wow...

LCL (Danny 心), [27/2/2025 6:48 PM]

My close friend comments:-

Wonder will WP take up the challenge to take the lead to accept cut in town council spending or not.

Then we will see whether cutting down essential public spendings are practical or not without impacting service delivery to the residents.

If WP succeeded in doing so, I think incumbent will emulate.

REACH Singapore, [27/2/2025 7:01 PM]

Dear Contributors

We will be closing the chat for today.

Thank you very much for being part of our Telegram chat and participating actively.

Goodnight!

Megan 😊

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