SINGAPORE STOCKS INVESTING

Dear readers, near the end of the Singapore Budget Debate 2018, there were questions by the MPs on Ministerial Salaries to which it was announced that there would not be further increases to the Ministerial Salaries. Yesterday’s The Straits Times Article also carried an article with more details of the Ministerial Salaries. I managed to find the article online and it could be viewed here .

Dear readers, Prime Minister Lee Hsien Loong announced today that his current cabinet will be reshuffled after the Parliament takes a mid-term break so as to provide more exposure and opportunities for younger Ministers. Needless to say, all eyes will be on the new portfolios which will be given to the three PM-Potential Ministers, namely Mr Heng Swee Keat, Mr Chan Chun Sing and Mr Ong Ye Kung.

Dear readers, yes, finally, the government announced that it would increase GST to 9% between 2021 and 2025 as per the Budget Speech delivered by Finance Minister yesterday. While many of us would have already picked up the clues prior to the Budget Speech of an increased GST, I think not many of us would know the exact quantum of GST increase as well as the timeframe of implementation. Hence it is with great relief that we all know that yes GST will increase by 2 percentage points and that the implementation will only start between year 2021 and 2025.

I believe the GST is poised to increase this year since there have been news that Singapore will need to spend more for its healthcare needs and security needs in the coming years. And there has also been a MOF initiative to pay young influencers to spread some awareness of the upcoming Budget.