Former Finance Minister and PAP candidate for Jurong GRC Tharman Shanmugaratnam called the Opposition parties cheap for pointing out that the ruling party need to increase taxes like the GST in order to fund their new welfare programmes like Medishield Life and Pioneer Generation Package.
“As I listen to some of the scaremongering that is going on, not only do the Opposition avoid talking about the taxes they have to raise in their proposals, they also scaremonger, talking about what the PAP would do after the elections. That is just cheap. That is just cheap. We have been upfront and I said in this year’s Budget very clearly, we have raised the revenues we need for the next five years.”
However, the ruling PAP government has actually raised income taxes by 2 percent for the top 1% and marginal increase for the top 5% earlier this year in February.
Property taxes for condominums and landed properties in central locations were also raised in 2015.
In the same speech Tharman made, he also clearly indicated that the government will have to raise taxes for the middle class if they want welfare benefits like free healthcare, education and the pension scheme. Yet, the former Finance Minister is now calling his opponents cheap for making the same statement.