Mr Chee said the revenue generated from the GST – from tourists, foreigners, and the better-off – is part of a “progressive” system to give the government the resources it needs to support Singaporeans in many areas, including healthcare, education, housing and public transport.
“So if we reduce the GST, we will forgo this revenue that we collect from these groups that are currently benefiting Singaporeans today,” said Mr Chee, who is also Minister for Transport.
“If we did not increase the GST, we would not have the resources to support our seniors in an ageing society and today, in a more turbulent world, to help Singaporeans, to help our companies, to help our workers, to help our people.”
