Highest Budget surplus ever ($12b?): Increase taxes?

Will taxes be raised if the Budget surplus was the highest ever in our history?

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By Leong Sze Hian

I refer to the article “Spending on security to be ‘very major’ Budget item” (Straits Times, Feb 4).

It states that “”I do expect our security expenditure to go up because we want to be able to support our security agencies in this very important mission to keep Singapore safe and secure,” he said.

He also expects spending to continue to rise for the next 10 years.

In 2016, the Home Affairs, Defence and Foreign Affairs ministries spent $19.5 billion – slightly more than a quarter of the national Budget – on security. This was a 32 per cent rise from the $14.8 billion spent in 2011.”

According to the article “Heng Swee Keat has spoken at the Singapore Perspectives conference more than other ministers” (Mothership, Jan 22) – “and you’ll notice that of the three most talked about candidates, Heng has been invited to speak at an SP panel three times, which is more than any other Minister.

Heng’s profile has been on the rise recently. In Nov. 2017, he delivered a speech in Beijing.

And in Dec. 2017, a top business magazine in China published a rare extensive interview with Heng.

But for those of you who keep a close eye on local politics, it could provide us with a tantalising clue as to which way the wind is blowing.”

At the conference – the Finance Minister showed charts which stated “Major revenue – FY2016 Revised: $83 Billion” “Social spending now forms largest share – FY2016 Revised $71 Billion”.

So, does it mean that the Budget surplus for FY2016 Revised was $12 billion ($83 – $71 billion)?

Is this the largest Budget surplus ever in the history of Singapore?

And the widespread expectation is that taxes may be increased when the Budget is delivered in Parliament on 19 February?

62 COMMENTS

  1. There are many types of politician, some like to gamble, some like to drink, some are womaniser, some are apple polishers, some are dishonourable, some are opportunist and there are some bastards who take pride in making huge profit from the most basic human needs. The most dangerous among them are the one that LOVE THE SMELL OF OTHER PEOPLES’ MONEY BECAUSE THEY WILL MAKE POLICIES THAT CAUSES ANXIETY, MISERY AND DESPAIR. When leaders sacrifice the peoples’ interest for personal fame and fortune they are just like MOST PROSTITUTES. AS SUCH THERE WILL ALWAYS BE A HANDFUL OF SHAMELESS PIMPS WHO WILL CONTINUOUSLY PRAISE AND GLORIFY THEM WITH THE HOPE OF BEING REWARDED OR HAD ALREADY BEEN REWARDED. Only fools will support such leaders.

  2. surplus or noplus. Own check Own self. Hear and see only the good things. Uniquely Classic Spore. Declared profits but still increases tariffs(water bills). Crude oil costs decreased but pumps rates still increase. GDP increased,workload increases, responsibility increases BUT pay not increase. Love this leaderships

  3. I have to agree to Brendan Chong, but then again Singaporean are just CHICKEN and worry that such change will have GREAT Impact….BUT nevertheless it does not matter to me after all being here for 50 year I’ve seen too much and that even when our Late PM calls Malaysia & Indonesia as Cronism/Corrupted/Nepolism or even China as Corruption…..Just tell me TODAY 2018 what the different between Singapore Government or ruling party, isn’t they too got corrupted “LEGALLY” and “Greedy” Legally.

    It took Late LKY 50 damn years to built Singapore from a Fishing Village to what it is today and he flatted the island to make it what it is today and damn it it told his group of team to clean Ah Long, Pirate Taxi and Casino.

    But it take the son (Pinky) to legalise Casino and bring in 2 Large Casino and legalised MoneyLending to license Money Lending in just 5 years and amendment of our CPF core vaalue to Indirect Cheating making-up HDB which also lost its core value which ALL these monies are “Channel” to the Ministers and MP’s Pay-Package.

    BUT it took his Grand-children from PINKY children 5 months to bring in the Grab & Uber to bring back “Pirated-Taxi” and thus SUPPRESSING the taking of Taxi-Driver which then boils down to 2 common FACTORS.

    Namely:
    1. Bring in Foreign Talents and Giving out PR & Citizenship to foreigner in order to have wages for Singaporean = Suppression in Monthly Wages/Pay Increases

    2. Bring in Uber & Grab thus causing Singaporean older or uneducated lost of income or suppression of taking as Taxi Driver = Suppression Taking of Taxi Driver

    With this Suppression …didn’t Singaporean realise our Ministers and MPS are using our excuses to justified their purposes examples:

    When we complaint about Not enough Taxi then they choose to leverage on the Uber & Grab as an alternative and thus pushing more cars out making money from their COE and thus suppression on issuing COE to Singaporean on Cars and ultimately driving Price up.

    SO For GOD sake you all Singaporean have to band up and make change for your future generation, I’m ashame of each and everyone of you ALL Singaporean especially those Civil Servants who are Singapore playing OUT their very Relatives & Friends …SELFISH