According to Deputy Prime Minister Heng Swee Keat, Singapore may take a few years to recover from the impact of COVID-19 pandemic. During his recent speech in the parliament, he said that the government will not increase the GST next year. However, the GST will be increased latest by the year 2025.
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During his speech on the Unity Budget, he said that the government will not borrow money to pay for recurring expenditure. The GST will not increase to 9% in 2021.
However, when the GST increase, the government will assist the citizen by cushioning the impact. The government will continue to absorb GST on publicly-subsidised healthcare and education.