S’pore GST To Rise 7-9% Between 2021 & 2025, Government Promises To Support The Needy

Government Prepares To Help The Needy Manage Possible GST Hike

Those of us who are eligible should have received our GST and Bicentennial vouchers by now, and probably treated ourselves to a little something.

But happiness is fleeting, as the year comes to an end, bringing us closer to the planned Goods & Services Tax (GST) hike we first heard about in Budget 2018.

While many of us will feel the heat, the less fortunate are especially vulnerable, as prices of necessities will likely increase.

The government has considered their needs and come up with a plan to help them face the changes.

Government will help the needy manage GST hikes

Speaking at the People’s Action Party’s (PAP) convention today (10 Nov), Deputy Prime Minister (DPM) Heng Swee Keat laid out plans to help Singaporeans cope with the hike.

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For one, the existing GST voucher scheme may be enhanced, according to a report by The Straits Times (ST).

But special attention will go to the needy, as ST quoted Mr Heng who explained,

More will be given to those with less, because this is fair.

Citing various schemes like the Merdeka and Pioneer Generation Package that the government has introduced, Mr Heng promises that nobody will be left behind.

More details to come closer to the date

Since the GST hike will only happen in a few years’ time, Mr Heng will only reveal details of the support package in next year’s Budget.

He simply announced the package in advance so people can plan ahead, especially in view of current economic conditions.

Hopefully with proper preparation and sufficient government support, Singaporeans will be able to cope just fine with the impending GST hikes.

We are, after all, an unwavering society and we will not let any challenges bring us down. If the hike is indeed for the betterment of future generations, then we’ll weather through it graciously.

Featured image adapted from R Alenius on Flickr.