03 Mar '11, 1am

Finance Minister Tharman Shanmugaratnam said GST was fine as it is, dismissing an opposition call to lower it

Finance Minister Tharman Shanmugaratnam said GST was fine as it is, dismissing an opposition call to lower it

Exempting or reducing GST on certain goods and services does not mean the savings will be passed on to the consumer, Mr Tharman says, adding that the administrative difficulty of having a multi-rate GST system can raise costs. -- ST PHOTO: NG SOR LUAN FINANCE Minister Tharman Shanmugaratnam has dismissed calls by opposition MP Low Thia Khiang to cut the goods and services tax (GST) to 5 per cent or tweak it to alleviate the higher cost of living. Mr Tharman said this is a wrong solution that will result in the Government giving more money back to the wealthy, while taking away from the poor. Mr Low had raised the issue in Parliament on Monday, saying that inflation had taken a toll on the lower-income group. He suggested that the Government consider cutting the GST from the current 7 per cent to 5 per cent and also exempting basic necessities from GST. Rebutting the first ...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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