Opposition alternatives to GST hike will not plug funding gap, need 'reality check': Wong
Earlier in the #SGBudget2022 debate, Workers' Party (WP) MP Louis Chua suggested that the government could top up its coffers with revenue from wealth taxes and the OECD's upcoming global minimum effective tax rate on multinational enterprise groups.
His fellow MP Jamus Lim proposed reallocating a share of carbon tax revenues, as well as increasing so-called "sin taxes" on gambling, alcohol, and tobacco.
But such measures "will not help to meet our structural funding gap", Wong said, raising objections such as a dwindling share of economically active workers who can pay income taxes, as well as the regressive impact of tobacco taxes on lower-income groups.
For more #SGbudget2022 content, check out our microsite at bt.sg/budget22.
Get full access to BT's coverage on Budget and more from $0.99/month. Visit btsub.sg/tele.
