As retail businesses in Singapore introduce year-end promotions for shoppers aimed at cushioning the impact of the next sales tax hike, many residents will still feel the “psychological pinch” of higher daily expenses, political analysts and economists say.

With the country inching closer to the general elections, which have to be called by November 2025, the goods and services tax (GST) is expected to be a hotly debated issue among the rival political parties, they add.

With the country inching closer to the general elections, which have to be called by November 2025, the goods and services tax (GST) is expected to be a hotly debated issue among the rival political parties, they add.

Singapore’s GST increased from 7 per cent to 8 per cent on January 1, 2023. On the first day of 2024, it is set to increase to 9 per cent.

Earlier this year, Singapore unveiled a…

ON GST HIKES, PUBLIC TRANSPORT FARE RAISES.... ETC

ON OVERALL HANDLING OF COVID-19, THREATENING UNVAXXED FOLKS WITH PUNITIVE, DISCRIMINATORY MEASURES, CONSTANT U-TURNS ON DIRECTIVES ISSUED TO GENERAL PUBLIC OVER THE LAST THREE YEARS, BLAH BLAH BLAH:

ON INCREASINGLY UNAFFORDABLE PUBLIC HOUSING:

ON TEMASEK'S FAILED INVESTMENT IN CRYPTO FIRM FTX, SIMPLY EXPLAINED AWAY AS A CONTRARIAN BET GONE WRONG:

About 48% of Singaporeans have low confidence in retiring comfortably, a survey by Etiqa Insurance found.

The low confidence stems from their worries about finances and health post-retirement, the study stated.

Findings showed that 84% of Singaporeans want to be financially independent, whilst 73% want to be physically independent post-retirement.

Singaporeans also feel that their retirement won’t be as comfortable as they expect it to be due to fears of failing health (42%) and running out of funds (23%).

According to Etiqa Insurance, the findings only show the need for Singaporeans to prepare for retirement as early as possible.

SINGAPORE - Home loan rates in Singapore have gone past 3 per cent to a new high with the latest move by UOB.

The previous high in recent times was 2.88 per cent in mid-2019.

UOB on Wednesday night (June 29) raised the rate on its three-year fixed rate package to 3.08 per cent per annum, from 2.8 per cent previously.

UOB said there is no change to its floating rate package, which is pegged to the three-month compounded Singapore Overnight Rate Average (Sora) plus a margin of 0.8 per cent.

The rate for its two-year fixed rate package was raised to 2.98 per cent per annum from 2.65 per cent.

More than half of Singaporeans think the government is handling inflation “badly,” according to a new poll, highlighting challenges facing the country’s leaders as the nation undergoes a political transition.

About 55% of respondents in the mid-May survey conducted by pollster Blackbox Research Pte. said the government was handling everyday price rises “badly.” Almost 20% said it was tackled “very badly,” while 36% felt it was dealt with “quite badly.” At the same time, 37% said the government was performing “quite well” and 7% said “very well.”

More than nine in 10 Singaporeans said inflation has affected their lives, with 37% indicating a “significant” impact, according to the poll based on interviews with 758 people aged 20 and above. It has a margin of error of 3%.

That sentiment is an indication of the challenges finance minister and prime minister in-waiting Lawrence Wong faces in convincing voters that the ruling…

Singapore – After being let go from his part-time job as a waiter last year during the pandemic, Danny Goh hit rock bottom.

For eight months, he struggled to find work to support his wife and four young children. The family survived on instant noodles, bread dipped in coffee, and biscuits, getting by on the goodwill of relatives and church friends.

While Goh has found a new commission-based job getting people to sign up for government skills upgrading and training courses, his income fluctuates between 800 Singapore dollars ($594) and 2,800 Singapore dollars ($2,078), which is barely enough for their large family.

He perpetually finds himself cash-strapped.

To save money, the family has started eating only two meals a day – simple dishes like chicken soup with rice or potatoes.