Budget 2019!

[Victor68]

While I think this lady called Florence is rather a frictional person, the points stated are valid, especially the last one.

Since when policy makers come up with something they will be disadvantaged? Only people power can change thing lah.

[Inlinefour]

Don't spread fake news. Who said he Bo chap siblings?

 

He love them so much everyday must chap them. Xmas, NY, CNY will send them lawyer letter.

 

actually this is not Chap lah...actual word should be Loot Blood Siblings every now and then

[Sdf4786k]

Last time i heard the marketing costs for pioneer gen was abt 200M ...

[Angcheek]

I meant , sometimes a gentle reminder to file tax for us who have a side line business to file ...

 

ohhh at nite you have moonlighting side line biz       

 

like that iras also know 

[Kopites]

I meant , sometimes a gentle reminder to file tax for us who have a side line business to file ...

You rich!

 

Me every year received letter..selected auto e-filing. Dont even get the chance to file.

Edited February 23, 2019 by Kopites

[Theoldjaffa]

Sharing a WhatsApp message: -

 

A gutsy lady by the name of Florence put her comment on Reach Budget 2018 whatsapp Chat as follows:-

Dear Prime Minister. Your budget makes no sense at all. I am not like one of these many lemmings on here that praise it and don't know what its about. Can you care to explain the following:

1) If you have a budget surplus of almost $10 billion from last year, why are u still raising the GST?

2) Isn't giving us $300 on one hand (bribing one with one's own money) and taking it away on the other hand with a GST increase, rather meaningless?

3) Why are we spending billions $ on infrastructure like rail and roads when we have a zero population growth and almost negative birthrate? Who are we building these infrastructure for? To accommodate your target of 6.9 million population? So, we are spending Singaporean taxpayer money on infrastructure for foreigners?

4) Why is our defence budget 40% larger then our healthcare budget, more then $4 billion more. To buy weapons and equipment to fight who? Name our enemy, Mr. Prime Minister. With an aging population, healthcare should far surpass the defence budget, not the other way round

5) Increasing the education budget by giving more edusave bursaries to our student is like giving crumbs to us. Your govt is giving full scholarships to foreign students, why can't we get that deal instead?

6) If u need more money, instead of taxing the poor with a GST increase, why don't u raise the tax rate for the high earners (those earning over $1 million a year). I am sure there are thousands of such people, including all your Cabinet Ministers and many MPs. If you tax them more, u surely can avoid the GST.

PASS AROUND

My comments.

 

Point 3:

Infrastructure is for ALL for who lives in Singapore to use. Even though there's "zero population growth" and "almost negative birthrate", new children of Singapore are still being born and will eventually use the infrastructure. Current Singapore citizens will also benefit from it. She herself will use it in one way on another. So isn't the gahmen spending it on her, for her as well?

 

Point 4:

I don't know much details about the budget for defence but it seems like she's comparing dick sizes to see whose is bigger and why it's bigger and that's pretty meaningless. Is the 40% difference of the defence budget solely for buying more weapons and equipment to fight someone else? When we buy chicken rice for $3, we're not just paying for the chicken and rice that's what I'm saying.

 

Point 5:

Aren't Singaporeans getting full scholarships too? President's Scholar, SAFOS.. etc?

[Theoldjaffa]

While I think this lady called Florence is rather a frictional person, the points stated are valid, especially the last one.

It's "fictional"

[Wt_know]

no friction no shiok

so friction post must have friction mah ... isn’t it ... lol

[Silverkris]

Sharing a WhatsApp message: -

 

A gutsy lady by the name of Florence put her comment on Reach Budget 2018 whatsapp Chat as follows:-

Dear Prime Minister. Your budget makes no sense at all. I am not like one of these many lemmings on here that praise it and don't know what its about. Can you care to explain the following:

 

1) If you have a budget surplus of almost $10 billion from last year, why are u still raising the GST?

 

2) Isn't giving us $300 on one hand (bribing one with one's own money) and taking it away on the other hand with a GST increase, rather meaningless?

 

3) Why are we spending billions $ on infrastructure like rail and roads when we have a zero population growth and almost negative birthrate? Who are we building these infrastructure for? To accommodate your target of 6.9 million population? So, we are spending Singaporean taxpayer money on infrastructure for foreigners?

 

4) Why is our defence budget 40% larger then our healthcare budget, more then $4 billion more. To buy weapons and equipment to fight who? Name our enemy, Mr. Prime Minister. With an aging population, healthcare should far surpass the defence budget, not the other way round

 

5) Increasing the education budget by giving more edusave bursaries to our student is like giving crumbs to us. Your govt is giving full scholarships to foreign students, why can't we get that deal instead?

 

6) If u need more money, instead of taxing the poor with a GST increase, why don't u raise the tax rate for the high earners (those earning over $1 million a year). I am sure there are thousands of such people, including all your Cabinet Ministers and many MPs. If you tax them more, u surely can avoid the GST.

 

PASS AROUND

 

My comments:

 

1. 10 Billion isn't a lot in economic standards. But it does allow the raising of GST to be postponed and to be reviewed again, that is why there is no exact year that when it will be implemented, just a range. It is like you asking the govt to be more transparent and give ample notifications  before the actual thing happens, but when they do so, we are complaining about it. In fact maybe like other countries, the govt is able to notify the GST increase just by this year budget and expect it to be carried out by end of year, like the last few times when GST increases.

 

2. Maybe we have to put it this way, Singapore has become a rich people haven because we dun tax them as much as other countries, and there is no discrimination against rich people as in other countries. Any discrimination will result in some / many of them leaving to find another haven, and we have to admit that these are the people who are paying for a lot of things in Singapore, not many of us who are not paying tax to even support the annual salary of a police officer. Low GST actually benefits the rich much more, Saving the GST of that sports car definitely is much better for them than a trip to NTUC for a week worth of groceries. And although the rich are taxed much more from the increase of percentage in income taxes now, we cannot do it in such a way that the rich thinks that they are being discriminated about, again because of reasons above. So how do we get more from the rich yet maintain the welcomeness? For the government now, the way is to increase GST so that all will be expected to pay higher, and much higher from the rich from the stuffs they buy. But again, it is not the govt wish to earn more from the poor, because it doesn't make sense to make the common people angry while collecting so little GST money from the common people, especially the poor, so the govt returns the additional GST that these people would have paid by means of GST rebates, hence the notion of left pocket in, right pocket out. But the govt did have more income from the rich in this way.

 

3. Infrastructure is important for a country growth, whether to build more MRT, upgrade the old ones with new technology, etc. Not only for growth of population, but the upgrades are needed to make full use of new technology as well.

 

4. This is a nonsense statement to reduce the defense budget after we have already witnessed what kind of neighbors we have all around us.

 

5. This is one point that I agree that the govt has to do better. The govt are just like the rest of Singaporeans, who are thinking that imported talents are better and they are also not supporting local talents enough, just like the rest of us. Now after all the China shows, the elders are now evening saying China singers / actors are better than Singapore ones, not only the ang mos. 

 

6. See 2.

 

 

[Invigorated]

Sharing a WhatsApp message: -

 

A gutsy lady by the name of Florence put her comment on Reach Budget 2018 whatsapp Chat as follows:-

Dear Prime Minister. Your budget makes no sense at all. I am not like one of these many lemmings on here that praise it and don't know what its about. Can you care to explain the following:

1) If you have a budget surplus of almost $10 billion from last year, why are u still raising the GST?

2) Isn't giving us $300 on one hand (bribing one with one's own money) and taking it away on the other hand with a GST increase, rather meaningless?

3) Why are we spending billions $ on infrastructure like rail and roads when we have a zero population growth and almost negative birthrate? Who are we building these infrastructure for? To accommodate your target of 6.9 million population? So, we are spending Singaporean taxpayer money on infrastructure for foreigners?

4) Why is our defence budget 40% larger then our healthcare budget, more then $4 billion more. To buy weapons and equipment to fight who? Name our enemy, Mr. Prime Minister. With an aging population, healthcare should far surpass the defence budget, not the other way round

5) Increasing the education budget by giving more edusave bursaries to our student is like giving crumbs to us. Your govt is giving full scholarships to foreign students, why can't we get that deal instead?

6) If u need more money, instead of taxing the poor with a GST increase, why don't u raise the tax rate for the high earners (those earning over $1 million a year). I am sure there are thousands of such people, including all your Cabinet Ministers and many MPs. If you tax them more, u surely can avoid the GST.

PASS AROUND

for point 3, is the poster saying that increasing the education budget is wrong? our kids pay less than 10 bucks a month while foreign students in local schools have seen their fees increase e.g an international student has to pay 1250 a month to study in a secondary school vs 950 in 2017.

 

certainly our schools are heavily subsidised and there have been multiple polices that have benefited singaporean kids in the past years too like waiver of key exam fees, edusave top ups for courses and activities.

 

just focusing on foreign student scholarships to denounce all this? all counties offer foreign students scholarships to attract fresh talent. I have had friends and relatives on full foreign scholarships in Australia and Japan etc. Google and one can find many other countries offering free scholarships.

[Ysc3]

With Singapore having accumulated an estimated surplus of $15 billion since 2016, several MPs on Tuesday (Feb 26) suggested ways to spend it as they debated the Budget statement.

 

Speaking in Parliament on the first day of the Budget debate, Ms Foo Mee Har (West Coast GRC) urged the authorities to postpone the "unpopular GST hike for as long as possible", referring to the planned GST hike of two percentage points, from 7 to 9 per cent, between 2021 and 2025.

 

Another suggestion she had was to share surpluses with Singaporeans regularly, just as the Government is doing with this year's $1.1 billion Bicentennial Bonus and last year's $700 million SG Bonus.

 

 

"This gesture of sharing surpluses with Singaporeans, whenever our finances allow, should be a regular feature of all future Budgets," she said. "There is no better way to build social cohesion than to share these upsides with the people."

 

Budget surpluses are accumulated as current reserves and if unused by the end of each term of government, will be transferred to past reserves.

 

Mr Liang Eng Hwa (Holland-Bukit Timah GRC), chairman of the Government Parliamentary Committee for Finance as well as Trade and Industry who opened the debate, asked the Government to consider one-off injections into insurance risk pools whenever there are surpluses.

 

This way, the authorities can "continually improve the claims economics for the insured", he said, referring to healthcare and long-term care insurance plans Medishield Life and CareShield Life.

 

Workers' Party chief Pritam Singh (Aljunied GRC) went as far as to suggest that one-off packages for the Pioneer and Merdeka Generations should be adapted and made into universal and permanent healthcare packages for senior citizens from the age of 60.

 

This, he suggested, would be aimed at alleviating the out-of-pocket expenses for primary healthcare, and could include additional subsidies for common illnesses and chronic conditions for outpatient care.

 

Besides these suggestions, nine of the 12 MPs who spoke before the break focused on how to improve lives for Singaporean workers amid technological disruptions and globalisation.

 

Labour MP Ang Hin Kee (Ang Mo Kio GRC) wants freelancers to insure their income should they have to take prolonged medical leave, while Ms Foo hoped that the Workfare Income Supplement (WIS) Scheme could be extended to more low-income workers, including those in the gig economy.

 

Two other labour MPs, Mr Melvin Yong (Tanjong Pagar GRC) and Mr Desmond Choo (Tampines GRC), suggested subsidies for those wanting to do a second diploma or degree, to be consistent with the Government's push for the workforce to constantly upskill themselves.

 

Finance Minister Heng Swee Keat said the 2 percentage point increase will provide the Government with revenue of almost 0.7 per cent of Singapore's gross domestic product per year.

 

Taking a longer horizon, NTUC deputy secretary-general Heng Chee How (Jalan Besar GRC) said the Government, unions and companies must think of ways to help the estimated 33,000 caregivers to be part of the workforce should they desire to work.

 

This includes ways of providing sustainable senior care, and determining how fair and flexible work - especially part-time jobs - can be incorporated into mainstream staffing models.

 

Another topic that came up was how to foster a more caring society.

 

Ms Denise Phua (Jalan Besar GRC) wants voluntary welfare organisations to be allowed to invest in Singapore Savings Bonds, so they can generate revenue consistently and focus on their programmes.

 

Labour MP Zainal Sapari (Pasir Ris-Punggol GRC) encouraged members of the public to show their appreciation to Singapore's low-income workers - like cleaners and security guards - with simple acts like returning their own trays at hawker centres, greeting them and not littering.

 

"These acts don't cost us a thing, but they can go a long way in brightening up their lives. Make it our habit to care. A gracious society does not happen by chance, it is up to you and me to make a difference," he said.

 

The Budget debate, which is ongoing till Thursday, is estimated to see more than 50 MPs speak in total.

[Mason016]

Postpone GST? Don't fool me ha.

[Kangadrool]

Lead mee tale you ha.... postphone GST increase means greater increment in the future hoh and it's an irresponsible act for the pleasant gobbermen.

[Enye]

budget already announced

 

debate can change simi?

 

sibeh wayang

 

 

[Yeshe]

no friction no shiok

so friction post must have friction mah ... isnât it ... lol

U feel the friction when u go raw. If too much friction, just use KY

[yishunite]

 

 

MP Phua asks why govt reduces foreign quota and says Cube Boutique Hotel’s business would be hurt  

Correspondent 2019-02-27 Current Affairs, Parliament

 

In Parliament yesterday (26 Feb), Member of Parliament Denise Phua questioned the government on its recent announcement to reduce the foreign worker quotas for companies and businesses.

She said the move would raise business and labour costs for the service sector. She said that unlike in construction and manufacturing, the service sector has not benefited in the same way from automation and digitalisation efforts. The hospitality, food and beverage, arts, entertainment and other lifestyle sectors will likely be hit hardest, she added.

She then cited the predicament of Cube Boutique Hotel, whose owner Benedict Choa has adopted an innovative hotel model, automated its check-in system and worked with government agencies to transform some of its processes.

Addressing Mr Choa by his first name in Parliament, MP Phua said, “Ben is all ready to employ any local staff willing to work, if he can only find them.”

In other words, she is saying that the boutique hotel owner cannot find Singaporeans willing to work at his hotel.

How can the Government help such companies that are aligned with the national direction and yet still face manpower challenges, MP Phua questioned the government.

Denise Phua is the MP for Kampong Glam ward, forming part of Jalan Besar GRC.

Cube Boutique Hotel could be earning as high as $150K a month

According to an interview given by Mr Choa in 2017, he started his unique hotel business in 2015.

Its website said that it is the “only hotel that combines hotel favourite features that everyone loves with the friendly atmosphere of a sharing community, and a capsule sleep experience that is bucket-list worthy”. That is to say, there are no rooms but multiple cubicles like capsules are created for customers to sleep in, thereby creating more space to make money.

Currently, according to the website, Mr Choa operates his hotel business in 2 places: Chinatown and Kampong Glam. He is looking for more places to build his hotel chain.

The place in Chinatown was originally a shophouse also operating as a hotel. He converted it from an old 22-room hotel to a 78-bed “luxury capsule” hotel. He told reporters that demand for beds has been “overwhelming”, with European travellers accounting for 60 per cent of its guests.

The average rate ranges from $50 to $75 a night, and unlike typical low-cost accommodation, Cube offers an array of services, including a 24-hour concierge, an airport transfer shuttle, housekeeping, laundry services and free Wi-Fi.

Taking the average of $50 and $75 at $62.50, with 78 capsules, his hotel at Chinatown could be drawing as high as $5K a day or $150K a month.

Mr Choa told ST in the interview that his firm is focused on acquiring or renting “tired properties in good locations” on long leases.

“It’s a two-pronged strategy that allows us to benefit from the capital appreciation after the property has been renovated, as well as tap the potential of the luxury hostel business,” he said.

Potential properties he is looking to acquire are shophouses near MRT stations with a price tag of between $5 million and $20 million.

His near-term goal is to eventually have 8 “capsule” hotels with a target of 800 beds. Assuming each hotel can generate around a maximum of $150K a month or $1.8 million a year, his hotel chain might hit a revenue of $15 million a year in total, if he can achieve his goal.

Apart from running the hotel business, his company also owns two serviced office units in GB Building in Cecil Street.

In any case, according to MP Phua, Mr Choa has problems recruiting Singaporeans and she is questioning the government on the need to reduce foreign worker quota, which would hurt Mr Choa’s business.

https://www.theonlinecitizen.com/2019/02/27/mp-phua-asks-why-govt-reduces-foreign-quota-and-says-cube-boutique-hotels-business-would-be-hurt/

Remember in the old days when we had this thing called the invisible hand of the market and when u cant find something you offer more for of it and see if more ppl bite?

 

Why biz owners only know how to stick wages at 1990s level and then complain when Singkies dowan bite

[Piyopico]

The proposed GST increase is expected to raise an additional 0.7% of GDP.

 

The GDP is estimated at S$438B in 2017. So the additional tax is $3B.

 

We ran a surplus of $10B in 2017. I have not looked at whether there were surplus or deficit from 2010 to 2016 but surely the investment returns from our reserves managed by GIC and Temasek (about $360B) at 1% return is enough to fund this $3B.

 

https://www.straitstimes.com/singapore/temasek-gic-made-gains-over-long-term-indranee

Returns by GIC and Temasek is 3.7% and 6% over last 20 years.

 

Instead of taking from reserves, they wanna increase GST.

 

I just dun buy this reasoning. Budget surplus or dificit is too lame a reason to raise GST. Our proposed purchase of 30 to 50 F35 fighters alone can wipe out the $10B surplus of 2017.

[yishunite]

The proposed GST increase is expected to raise an additional 0.7% of GDP.

 

The GDP is estimated at S$438B in 2017. So the additional tax is $3B.

 

We ran a surplus of $10B in 2017. I have not looked at whether there were surplus or deficit from 2010 to 2016 but surely the investment returns from our reserves managed by GIC and Temasek (about $360B) at 1% return is enough to fund this $3B.

 

https://www.straitstimes.com/singapore/temasek-gic-made-gains-over-long-term-indranee

Returns by GIC and Temasek is 3.7% and 6% over last 20 years.

 

Instead of taking from reserves, they wanna increase GST.

 

I just dun buy this reasoning. Budget surplus or dificit is too lame a reason to raise GST. Our proposed purchase of 30 to 50 F35 fighters alone can wipe out the $10B surplus of 2017.

Exactly. Our reserves are huge, maybe the hugest in the world per capita. When global financial crisis happen which everyone agree is a once in a lifetime crisis (last one in 1927) we reduced reserves by only little bit to keep us going. Yet we are not allowed to ask how much is enough, why always must tax more and grow reserves more for what