Hi friends,
Since I don't have the precise info yet, I am presenting the following discussion in broad strokes on how the govt balance its accounts in 2007. I apologise if some info is not accurate. Pls tell me and I will amend accordingly.
Govt said they will collect 2% more for GST.
Govt said they will also "pay" for the relief package to compensate for higher GST collections.
It will be interesting to know what the relief package would look like. Technically speaking, we could say we are already in balance now.
But things did not stop there. Another string of announcements presents itself.
Govt said they will freeze all fees and charges increase in govt-related agencies for ONE year.
Govt said they will reduce the subsidies by 10% to PR and foreign workers on medical costs.
Govt has withdrawn the concession to defer stamp duty on Dec 15 2006.
Anything else coming?
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