What is the financial health of the average Singaporeans?
The 2% increase in GST is really peanuts. It is what comes after that is going to kill the average and below average Singaporeans. And if any average Singaporean is going to think that his normal expenses are going to increase by not more than 10%, he is insane. I am waiting for the academics and those statistics churning machines to put out the real picture of the real increase in cost of living to the average and below average Singaporeans. And with that, they should redefined subsistence level or poverty line in Singapore. How are the recent increases going to affect families with $2k, $3k, $4k or $5k income? Forget about those with family income of less than $2k. Their life is bleak. They shouldn't be living at all.