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GST To Be Raised From 5% to 7% 
Posted on Monday, November 13, 2006 - 08:00 PM

Prime Minister announced in Parliament on 13 Nov 2006 that GST will be raised to 7%. Details of the raise and the offset package will be announced on 15 February 2007, which is Budget Day.

Mr Lee explained that the hike was necessary to finance the enhanced social safety nets, needed to help the lower income group and he emphasised that the offset package would more than counter the rise in GST.

 


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