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04 Jun 2019
Ministry of Finance
Suggestion View - 110
How $4.85 billion can be spent differently

The Land Transport Authority spend $4.85 billion to build the last three stations of the Circle Line. This is 5 times of the average cost per km for the earlier phases of the line. The finance minister should use his financial control to reject the building of this last stage, due to high cost. If this last stage is not build, the people living near the last three stations still use other modes of publi......



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23 May 2019
Ministry of Finance
Suggestion View - 127
Waive GST on essential items

Nearly 100% of the people who voted in my Facebook polls do not want GST on utilities and water, and on small purchases. I did not ask about medical bills and medicines, but I am sure that they want GST to be waived for these items as well. But 25% still want to keep GST at 7%. I cannot understand why. It seems to be a contradiction. Maybe they want GST on luxury goo......



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23 May 2019
Ministry of Finance
Suggestion View - 106
How to abolish GST

GST brings in $11 billion of revenue to the govt. It also adds a heavy cost to business to collect and account for the GST. This increases the cost of living by up to 10% (based on my estimate).  I prefer the govt to abolish GST and find some other ways to replace it, if necessary. This will bring down the cost of living. Here are some ways for GST to be abolished: a) The govt already has sufficient revenue from othe......



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29 Apr 2019
Ministry of Finance
Suggestion View - 398
Creating jobs for locals

What does Heng Swee Keat mean when he used these high sounding terms? Quote: Amid geopolitical and economic uncertainties, it is critical for countries and international organisations to work closely together towards long-term, sustainable development, said Finance Minister Heng Swee Keat yesterday. He called on local and foreign labour ministers and tripartite le......



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21 Apr 2019
Ministry of Finance
Feedback View - 244
Who funds the building of the Jewel at Changi?

I read a report that the Jewel in Changi is not funded by taxpayers. It stated that the Jewel is a joint venture between Changi Airport Group and CapitaLand. I wonder if this can be classified as "fake news". Here are my reasons: a) Changi Airport Group is fully owned by the govt, and by extension, by the taxpayers. b) What about the land used to build this mall......



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12 Apr 2019
Ministry of Finance
Suggestion View - 44
Look at negative impact of football betting

Rather than bark up the wrong tree by simply targeting our casinos (Address social impact of gambling before expanding casinos, by Dr Ho Ting Fei, April 8), we need to take a multifaceted approach to tackle problem gambling. Football betting is a source of problem gambling that is often overlooked. It not unusual to see groups of people clustered in front of the screens in Singapore Pools outlets, discussing and analysing the game odds ......



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12 Apr 2019
Ministry of Finance
Negative View - 267
Frivolity and financial imprudence

I literally got a shock when I read that the final stage 6 of the Circle Line will cost a whopping $1.2 billion per kilometre to build, or 5 times the average per kilometre cost of the first five stages.  I can't help but wonder how many people truly appreciate and understand just how much $1.2 billion is? For every one metre of that stage 6 Circle Line – with only 3 stations - it will cost our citizens $1.2 billion. If this is not frivolity and ......



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11 Apr 2019
Ministry of Finance
Negative View - 210
Last stage of Circle Line cost $4.85 billion

I was shocked to read the cost of constructing the last stage of the Circle Line. The sum of $4.85 billion is staggering. How can the Ministry of Finance allow such a large sum to be spent? Quote: SINGAPORE - In yet another sign that transportation expenditure is soaring, the sixth and final stage of the Circle Line will cost $4.85 billion - more than half the total cost of the first five stages of the orbi......



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08 Apr 2019
Ministry of Finance
Suggestion View - 172
Financial assistance to people in need

I wish to suggest the following measures to help the citizens who are in need of financial help. a) Families with young children and loss of breadwinner b) Old people who are not able to work and do not have any income c) People who have lost their jobs Single or widowed women may have to work to support the family. Who will look after the children? There are justification to provide a monthly income to the family. However, this income may not be adequ......



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08 Apr 2019
Ministry of Finance
Suggestion View - 155
Remove unproductive and wasteful practices

There are many government practices that add to the cost of doing business. Eventually, these costs will be reflected in the prices that are paid by consumers. They increase the cost of living. Singapore already has the highest cost of living in the world for several years.  A large part of the high cost of living is the cost of property. I will not deal with this matter here. I will deal with it separately. I will deal with the go......



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01 Apr 2019
Ministry of Finance
Compliment View - 123
A better tender system

Recently, I learned about a new approach to the tender system. The govt agency call for a tender by indicating a budget for the scope of work. The contractors submit their tender by indicating a discount or premium against the budget.  I like this approach.  The contractor has an indication about the costing for the work as indicated by consultants appointed by the govt agency. They know the budget. If they subm......



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01 Apr 2019
Ministry of Finance
Negative View - 249
Be open to foreigners

I refer to Heng Swee Keat's call for Singaporeans to be "open to foreigners" as he cited former chief planner Liu Thai Ker's view that Singapore should plan for a 10 million population. I beg to differ.  To grow the economy by simply importing more foreigners is not difficult. Almost all governments can do that and not just the PAP government. But there are very serious trade-offs for our country if we pursue that policy. Already, Singapore is th......



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18 Mar 2019
Ministry of Finance
Suggestion View - 246
Why GST is especially bad

Some people think that we need GST and cannot do without GST. They are mistaken. There are many ways for a government to collect revenue to run the country - income tax, property tax, GST, consumption tax, import duties, excise tax, payroll tax, stamp duty, etc. In Singapore, we have four additional sources of revenue that most other countries do not have - sale of leasehold land, motor vehicle taxes (including certificate of entit......



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16 Mar 2019
Ministry of Finance
Suggestion View - 133
Most urgent change in govt policy

I asked a question in the Wisdom of the Crowd website - which issue needs the most urgent attention. 43 people voted. The top choice (44%) was to abolish GST. The other choices - in order of popularity - are the lower health care cost, stop immigration, allow CPF withdrawal at 55 and reduce defense spending. I wish to explain my interpretation of the findings. a) It is clear that the cost of living was the biggest concern......



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04 Mar 2019
Ministry of Finance
Suggestion View - 237
A wise finance minister

A few years ago, I read a statement from the Australian finance minister that he wants to keep interest rate high to give a fair return to retirees who depend on investment income for their retirement needs. That was a wise finance minister. When the retirees can invest in fixed deposits and get a good return, they do not need to invest in risky investments that the are not familiar with. ......



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01 Mar 2019
Ministry of Finance
Suggestion View - 658
Why I strongly advocate that GST be abolished

I have advocated on several occasions that GST should be abolished in Singapore. Some people think that I am being "populist". They also think that it is not possible for the government to abandon this revenue source. Let me explain my thought process.  a) First, I believe that any government, and especially the Singapore government, should have adequate revenue to meet its operating expenses and provide the public services. These ......



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28 Feb 2019
Ministry of Finance
Suggestion View - 150
Budget 2019 - National Defence

Here are my views about budget 2019 on national defense. National defense is important for Singapore. We should put adequate resources on national defense but not excessive resources at the expense of other social and economic needs. Do you agree? National Defense We now spend $15.5 billion a year on defense. The backbone of our defense strategy is an active reservist force of 1 million trained......



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26 Feb 2019
Ministry of Finance
Suggestion View - 672
Budget 2019 - possible to abolish GST

I searched the MOF website for details of the revenue and expenses for Budget 2019. I found many colorful charts and figures showing how the government is taking care of the needs of various groups of people.  Here is an example. I searched for the actual figures on the revenue and expenses. I wanted to see if it ......



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25 Feb 2019
Ministry of Finance
Feedback View - 439
My view of Budget 2019

My views on Budget 2019 can be summed up in two words - BORING, DISAPPOINTING. A BORING BUDGET The first word is - BORING. It is boring because it is like the budget for previous years. Veteran journalist P N Balji, wrote in Yahoo News. The headline is - Budget 2019 - unimaginative, all too familiar./......



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21 Feb 2019
Ministry of Finance
Feedback View - 268
Special Purpose Funds

I was surprised to learn that there were 9 special purpose funds created in recent years. A total of $41.2 billion were stashed away in these funds.      $ billion Edusav......



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20 Feb 2019
Ministry of Finance
Suggestion View - 417
Budget 2019 - What are the key issues?

The minister of finance Heng Swee Keat presented the Budget for 2019 to Parliament. The analysts and public commented on the main items covered in the budget.  I like to talk about the items that he did not cover in the budget. These are the items that are critical to the future of Singapore.  What are these items? I will deal with the following: a) Cost of living b) National service ......



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19 Feb 2019
Ministry of Finance
Feedback View - 481
Budget 2019 - my initial thoughts

Life is boring in Singapore. We are not encouraged to talk about or to criticize government policies. If we do, we have to be careful. If we are not careful, we can be sued for defamation or charged for criminal defamation. Most citizens look towards the Budget Statement presented to Parliament to learn about the fiscal plans of the government and to comment on these plans. The Budget Statement for this year is of special interest becau......



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16 Feb 2019
Ministry of Finance
Suggestion View - 81
SMEs should switch to Fast e-payments

The recent spate of cases of small and medium-sized enterprise (SME) employees defrauding their employers have invariably involved the use of company cheque books in the custody of rogue employees. SMEs can reduce the risk of such fraud by switching from cheque to Fast and Secure Transfer (Fast) payments. Employees now responsible for cheque preparation can be given "preparer" role and their employers, who now sign the cheques, can be t......



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16 Feb 2019
Ministry of Finance
Suggestion View - 172
Dealing with the economic slowdown

The global economy is expected to go through a bad patch in 2019 and may persist for some time. The Singapore economy is likely to be badly affected. Businesses will have to close down. Workers will be retrenched. How are they going to cope with their mortgage payments and living expenses? Workers who have some savings for emergencies wil be able to cope. What about the others? This is a problem with the ca......



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14 Feb 2019
Ministry of Finance
Suggestion View - 128
Probe Hyflux's past operations

Despite the two town hall meetings with stakeholders facilitated by the Securities Investors Association (Singapore) recently, many relevant questions regarding Hyflux's past operations and financial performance were not answered satisfactorily. Hence, it is heartening to read that Sias has followed up with a letter and a list of questions to Hyflux's board of directors (Hyflux queried over CEO's remuneration, Feb 11). Many mom-and-pop ......



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10 Feb 2019
Ministry of Finance
Suggestion View - 239
The positive aspects of tariff

Most people look at tariffs as something bad. It impedes free trade which helps to bring down the cost of production and the prices of goods. The advocates of free trade ignore the important aspects of tariffs.  a) It is a way to bring tax revenue to the government to fund its operations. The alternative of relying on income and corporate tax is not reliable due to the ability of the wealthy to hide their profits in tax havens.br ......



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10 Feb 2019
Ministry of Finance
Feedback View - 165
Bad practice to set up many separate funds

I dislike the practice of setting up separate funds for special purposes. The latest is the Merdeka Generation Fund. I do not know if separate funds were set up in the past for Edusave, Skills Future, Pioneer Generation, etc. Why do I object to this practice? A separate fund may give the impression that it is self controlling. It is no longer under the purview of parliament.  This is one step towards l......



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09 Jan 2019
Ministry of Finance
Negative View - 0
Unwise spending for Countdown 2019

We organized a 90 min fireworks at Marina Bay for Countdown 2019. I have not seen any figure about the amount of money spent. It is not just the fireworks. We have to add the cost of the consultant (must be a big sum) and the manpower to organize the seating, etc. Sure, it is a lot of money. I guess it must be $6.9 million or $10 million. Someone said that it is $60 million. I don't think so. ......



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04 Jan 2019
Ministry of Finance
Negative View - 0
Stop wasteful and unnecessary spending

I have, on many occasions, raised the observation the govt and its agencies are spending too much on unnecessary spending. I wish to quote one of them here. There will be more examples that I will raise later. Take the case of the recent exercise to open up the electricity market for consumers to pick their suppliers. This is supposed to help reduce prices for consumers through competitive pricing by the market.br data-text="true" ......



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30 Dec 2018
Ministry of Finance
Suggestion View - 2
A healthy financial industry

Many people work hard. They spend wisely and are able to set aside some savings each month. They need advice on how to invest their savings to get a modest return. They do not want to take risk and are not greedy for a high return. Sadly, most of them end up with a bad investment. The people that approached them to give investment advice gave bad advise to them, and give them either a risky investment or a very poor return.......



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