| 22. |
The Government will implement
measures to help Singaporeans cope with the
slow economy and the CPF changes. We have
implemented many such measures since 1998,
when we were first hit by the Asian Crisis.
Last year, we staggered the increase in the
GST rate from 3% to 5% over two years, instead
of doing it in one step. But we still paid
out the full amount of the first tranche of
the Economic Restructuring Shares last January,
and thus more than offset the GST increase.
This year's Budget also included further assistance
to households, to help pay utilities, service
and conservancy charges and housing rents.
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| 23. |
Many MPs have urged
the Government to do more to lessen the cost
burden on Singaporeans. The Government agrees,
and will do so. |
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