Bridging income gap between ITE, Poly, and Uni grads requires all of us to play a part. Lawrence Wong
How can we ensure that the rewards of work are fairer and more equitable? While income has grown across different segments of the workforce, there remains a big gap between the salaries of university graduates and that of the poly or ITE graduates. While some difference is understandable, too wide a gap can lead to […]
We can remain successful if we understand that success is a team sport: Chan Chun Sing
Singapore can only remain successful if we continue to have generations of Singaporeans who understand that success is a team sport, said Education Minister Chan Chun Sing. Speaking at the Institute of Policy Studies Singapore Perspectives 2023, Mr Chan said everyone has the responsibility to pay it forward. “We are all here not just because […]
Let’s not be greedy for more, and kill the golden geese that help keep our tax burden lower than most countries: Ho Ching
In a Facebook post, Mdm Ho Ching explains how the NIRC has helped to keep our tax burden lower than most countries. “Let’s not be greedy for more, and kill the golden geese that help us keep our tax burden lower than most countries, other than those who can benefit from oil reserves or other […]
What Singaporeans say about GST and WP’s proposal to use more NIRC for today
Taxation is an intrinsic part of nationhood. It is unpleasant for the government. It is also unpleasant for the ones being taxed. But, it is an inevitable necessity. The Workers’ Party has called for more to be used from the NIRC (Net Investment Returns Contribution) instead of a GST hike – as much as 60% […]
PSP wants 100% of NIRC, WP 60%, or even 70%. What if our forefathers had wanted more NIRC?
It is said that without a vision, the people perish. Visionary leaders take care of the present with their eyes on the future as well so that the people can be future-ready. Singapore introduced the NIR framework back in 2008. The framework allows the Government to treat 50% of net investment returns as government revenue […]
WP Jamus Lim thinks today’s needs are bigger than tomorrow’s challenges
In Parliament, the Workers’ Party (WP) had argued for more of the NIRC to be used as government revenue for spending. They had called for 60% to 70% of NIRC to be used. In an exchange with a netizen named Richard Weng, WP Jamus Lim said that it was about striking an appropriate balance between […]
In the wake of the collapse of FTX, here are some misconceptions
The FTX Exchange (“FTX”) was a centralized cryptocurrency exchange with derivatives and leveraged products. FTX was founded in 2018 by Sam Bankman-Fried, an MIT graduate and former Jane Street Capital international exchange-traded funds trader. Due to its collapse, many misconceptions have arisen, so the Monetary Authority of Singapore (“MAS”) released a statement on November 21 […]
Many governments spend first, then look for funding. The PAP Government has a different approach.
In many countries, governments spend first and then look for money to fund the spending. The result is a huge debt burden for future generations when governments make big promises to get elected and then borrow to fund their promises. The Singapore PAP Government’s approach to spending is different. The Government set aside money for […]
Land reclamation costs for coastal protection can be met from Past Reserves: Lawrence Wong
Climate adaptation is a long-term endeavour by the PAP Government to ensure that Singapore remains resilient to rising sea levels and climate change. We need to keep our shores and people safe. Mean sea level around Singapore is projected to rise by up to 1m by 2100 (source). Singapore is especially vulnerable to sea level […]
The Assurance Package will delay the GST hike for majority of households by 5 years
The bulk of the GST burden is borne by tourists and foreigners living in Singapore, as well as the top 20% of resident households, Senior Minister of State for Finance, Mr Chee Hong Tat said in Parliament. Around $5.7 billion were collected in NET GST annually in 2018 and 2019. This is after netting off […]