In his short propaganda video calling for Singaporeans to attend his National Day Rally, Prime Minister Lee Hsien Loong described 2018 as a “good year” and said he will be talking about the affordable cost of living in Singapore.
Since the start of the year, electricity prices have raised by 13.7%, water prices by 30% and gas tariffs by 8.7%. The tax raises triggered inflation in the local market, causing prices of essential food, water, necessities and services to rise by at least 7%.
Prime Minister Lee Hsien Loong however needed the extra tax revenue to fund Terminal 5 and Tuas Mega Port, which to-date have price tags undisclosed. The corrupted dictator also needed the money to cover for losses at sovereign wealth fund company GIC, where he dabble in overseas investments as GIC Chairman.
To further fund his overseas gambling addiction, Lee Hsien Loong had announced two years ahead that he will be raising GST by 2% to 9%. Already ranked the most expensive city in the world for 4 years running, the cost of living in Singapore is expected to inflate by a further 15% following the GST increase in 2021. The hardest hit will be the poor and the middle income who pay about S$2,500 in GST each year.
There is however no room for debate as the GST increase has been decided by the dictator. Lee Hsien Loong does not allow any opposition to his planned tax raise in Parliament, leaving a change of government at the General Elections next year the only option for Singaporeans to avert a financial disaster.