Friday, January 2, 2009

Delays to the GST Offset and rebates?

New year 2009, where everyone is painfully waiting for the GST Offset and Credits makes one wonder if the Singapore Government is scaling back on the payout of the GST Offset.

Experts have said that due to the poor economic situation in the world, Singapore would not be increasing the Goods and Services Tax or GST to the the targetted 10% in line with the reduction of the VAT cuts by the British and some European partner countries to boost the frailing economy.

Which means one thing, NO $250 payout to the citizens this year. The fact that NSFs are getting an extra $20 for their group insurance means one thing, less benefits to the citizens, and CPW based benefits are to go for uniform groups.

Though this is just skeptical talk, the government is not doing it's part by not announcing the needed news for the payout which most citizens are really desperate for, especially in times of retrenchments and ever increasing costs.

The stimulus package is great for some, mainly bigger SMEs but not for the guy on the street. Money is getting harder and with in close ranks effect the debtors more. What Government could do is lend more money, from our own CPF Funds and lower credit card rates to a base rate of 10% being that the base lending rate is near to nothing. Many have lost thousands or even their whole life savings in the stock markets, in relations to the insurance ponzi and crashing unit trust prices, and as such the government should look into more to help it's own citizens, not just the foreigners. Despite that the foreign workforce earns the government $350 a month in terms of levies, the money should be pooled back to the citizens, local or abroad as they are supposed to care for us, not for their own pockets or even their friends.

Don't let the political scene be like Malaysia in the next decade, where citizens are not happy and revolving to the face of a heart. PAP have done a good job for the past 40 years and it is due for another mandate soon enough. A fluke electorate will cause more chaos and have Bob the Builder at the helm of the government.

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