50:50 division of NIRC takes care of both the present and the future Singaporeans in a fair way.

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.

A 50:50 division of NIRC takes care of both the present and the future Singaporeans in a fair way.

PSP wants a 100% use of NIRC. The WP wants 60%, even 70% use of NIRC.

Today, the NIRC contributes more than $21.6 billion (FY2022) to the budget.

Our forefathers did not spend the NIRC.

𝐒𝐔𝐏𝐏𝐎𝐒𝐄 𝐎𝐔𝐑 𝐅𝐎𝐑𝐄𝐅𝐀𝐓𝐇𝐄𝐑𝐒 𝐇𝐀𝐃 𝐓𝐇𝐄 𝐒𝐀𝐌𝐄 𝐌𝐈𝐍𝐃𝐒𝐄𝐓 𝐀𝐒 𝐓𝐇𝐄 𝐖𝐏

Suppose because they spent from the NIRC and as a result, today we have 20% less NIRC to spend.

20% of $21.6 billion is $4.32 billion.

The 2% GST hike is intended to raise $3.5 billion.

If our forefathers had the mentality of the WP, today, we will need to raise $7.82 billion instead of $3.5 billion because we have less in NIRC to spend.

The GST hike will have to be more than 2% to achieve $7.82 billion.

You will have to pay a hike of more than 4%.

You will be paying 11% GST or more instead of 9%.

This is what will happen if the WP's proposal to spend more from NIRC is adopted.

Spending more from NIRC means reinvesting less resulting in smaller growth (slow the growth, says Leon Perera) and therefore smaller gains for the future.

𝐓𝐡𝐞 𝐖𝐏 𝐩𝐫𝐨𝐩𝐨𝐬𝐞 𝐭𝐨 𝐭𝐚𝐤𝐞 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐟𝐮𝐭𝐮𝐫𝐞 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬 𝐚𝐧𝐝 𝐛𝐮𝐫𝐝𝐞𝐧 𝐭𝐡𝐞𝐦 𝐰𝐢𝐭𝐡 𝐡𝐢𝐠𝐡𝐞𝐫 𝐭𝐚𝐱𝐞𝐬 𝐫𝐞𝐬𝐮𝐥𝐭𝐢𝐧𝐠 𝐟𝐫𝐨𝐦 𝐝𝐢𝐦𝐢𝐧𝐢𝐬𝐡𝐢𝐧𝐠 𝐍𝐈𝐑𝐂 𝐟𝐨𝐫 𝐭𝐡𝐞𝐦.

𝐖𝐡𝐨 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞𝐚𝐧𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐟𝐮𝐭𝐮𝐫𝐞 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬? They could be YOU in your twilight years. They are your children, children's children, family. relatives, friends.

𝐖𝐇𝐄𝐑𝐄 𝐀𝐑𝐄 𝐖𝐄 𝐓𝐎𝐃𝐀𝐘?

1. Today, 𝐡𝐚𝐥𝐟 of us working Singaporeans 𝐝𝐨 𝐧𝐨𝐭 𝐩𝐚𝐲 𝐚𝐧𝐲 𝐢𝐧𝐜𝐨𝐦𝐞 𝐭𝐚𝐱.

2. 80% of us who do pay income tax pays 𝐚𝐧 𝐞𝐟𝐟𝐞𝐜𝐭𝐢𝐯𝐞 𝐫𝐚𝐭𝐞 𝐨𝐟 𝐥𝐞𝐬𝐬 𝐭𝐡𝐚𝐧 𝟒%.

3. With the Enhanced GST Voucher Scheme, the 𝐛𝐨𝐭𝐭𝐨𝐦 𝟑𝟎% 𝐨𝐟 𝐡𝐨𝐮𝐬𝐞𝐡𝐨𝐥𝐝𝐬 𝐰𝐢𝐥𝐥 𝐩𝐚𝐲 𝐚𝐧 𝐞𝐟𝐟𝐞𝐜𝐭𝐢𝐯𝐞 𝐆𝐒𝐓 𝐨𝐟 𝐥𝐞𝐬𝐬 𝐭𝐡𝐚𝐧 𝟑%.

4. The 𝐞𝐧𝐡𝐚𝐧𝐜𝐞𝐝 𝐀𝐬𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐏𝐚𝐜𝐤𝐚𝐠𝐞 𝐰𝐢𝐥𝐥 𝐝𝐞𝐥𝐚𝐲 𝐭𝐡𝐞 𝐆𝐒𝐓 𝐡𝐢𝐤𝐞 𝐛𝐲 𝟓 𝐲𝐞𝐚𝐫𝐬 for lower and middle income households.

You will not find another country in the world

- where their citizens pay low-to-no income tax, single digit GST,

- and enjoy the best in the world in terms of housing, education, healthcare, public transport

- a country where the Government puts in effort to provide intensive, holistic help to those from the neediest and vulnerable families (KidsSTART, UPLIFT etc)

- a country where the Government expends great effort to help prison inmates (I know because a friend of mine works in prison school) achieve their potential.

The future will come. It takes political courage to do right not just by the present generation of Singaporeans, but by the future generations as well.

𝐀 𝐜𝐨𝐮𝐧𝐭𝐫𝐲 𝐭𝐡𝐚𝐭 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐭𝐚𝐤𝐞 𝐜𝐚𝐫𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐟𝐮𝐭𝐮𝐫𝐞 𝐡𝐚𝐬 𝐧𝐨 𝐟𝐮𝐭𝐮𝐫𝐞.