Do we really have to raise GST, and if so, when is it really needed?
Government has thoroughly studied our spending trends and different ways to raise revenues to fund our plans.
Based on this, the Government has concluded that it needs to raise GST sometime in the period from 2021 to 2025.
It is prudent to raise taxes in good time, and not only when our resources become strained.
When deciding on the exact timing of the GST increase, we will carefully assess the state of the economy, trends in expenditure and revenues.
Just as the decision to raise GST was not made lightly, the Government will also exercise care in deciding when to do this.
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