REACH (Telegram) 62 - BUDGET 2025 ROUND UP SPEECH
(SK)
28 Feb 2025 (10am - 7pm)
REACH (Telegram)
REACH Singapore, [28/2/2025 12:27 PM]
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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 😊
====
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