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2/21/2007

will the budget achieve what it sets out to do?

This budget can also be known as the GST budget. The 2% increase in GST is the main theme, and how this will benefit the people as it was meant to be will be closely watched. We have heard often that this budget is to help the lower income groups and to narrow the income gap. In addition, Tharman also said that the budget was to grow the economy, improve the education system, renew estates, building a better transport system and better medicare. So the budget and GST are meant for more than just helping the lower income groups and to narrow the income gap. But to many people, their immediate concerns will be these two issues. For the first issue, with all the money and rebates given, no one can deny that the lower income groups will have more money to spend for the next five years after deducting away the amount they have to pay for the additional 2%. The question is how much of the handouts will be left. Will there be some leftovers, how much is the leftover and would this be meaningful in allevating their plight? Will they be better off? Only individual case studies would be able to tell. The next issue is the narrowing of the income gap. Is the income gap narrowed, by how much and for how long? Technically, a dollar difference is also a narrowing of the income gap. Would there be statistics to show how successful this objective is achieved?

4 comments:

Be fair said...

Leftover ? Don't be silly. They never said anything about any leftover. All they said was that the handouts are meant to OFFSET the impact of the 2% hike. You do know what OFFSET means don't you ?

redbean said...

i know lah. they never say anything about leftovers. but i still remember things like they will be better off even after the offset.

we will need some empirical data to show what actually happens at the end of the day.

Anonymous said...

Well, choose to believe the words of slimy politicians at your own peril, Redbean.

redbean said...

you are right, cannot believe in slimy stuff. but look for the not slimy one and believe him. all princes are prince charmings.