23 Apr '11, 8am

GE: Tharman says GST will not be raised for at least another 5 years

SINGAPORE : Finance Minister Tharman Shanmugaratnam has reiterated that the goods and services tax (GST) will not be raised for at least another five years. Mr Tharman said there is no need to raise the GST as Singapore's budget is in a healthy state. The GST was last raised from 5 per cent to 7 per cent in 2007. Mr Tharman was speaking to reporters on the sidelines of a community event in Jurong on Saturday. He said: "As Finance Minister, I have made that very clear in Parliament that at least for the next five years - it does not mean we will raise it in five years' time - but at least for five years, there is absolutely no reason to raise the GST, because this was the whole idea - we strengthen our revenue base in time. In fact, in the good years before the crisis, it came in very handy in the crisis but it is also going to come in handy in the next five years when we b...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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