How did Singapore’s economy do in 2017? What kind of new policies are we expecting in the future? And how will the GST hike affect our lives? In today’s episode, I invite special guest Wesley Goh of the Innovation Campaign to dissect last week’s Budget 2018 and bring you the answers! From the carbon tax to the new GST increases, tune in if you want to find out what it could mean for you.

 

In today’s episode, you will learn about:
  • Who Wesley is and what his project, the Innovation Campaign, is all about
  • Why Wesley is an ardent supporter of “permissionless innovation”
  • How Singapore fared fiscally in FY17 against expectations
  • The direction of Singapore’s fiscal spending
  • What the carbon tax is, and how it affects everyone
  • The mechanism in which taxes on industry gets passed on to consumers
  • Why top-down approaches may not always be ideal
  • The upcoming GST hikes and the multitudes of spending projects behind it
  • How our government spending keeps growing bigger and bigger
  • Why Singapore’s unique model of 50-50 welfare
  • What the new GST on imported services tax is, and who it impacts
  • How this new tax hurts SMEs and small business, whilst penalizing consumers
  • How such a policy might be detrimental to Singapore’s drive for innovation

Be sure to check out the Innovation Campaign here!

Music used: Claude Debussy – Arabesque No.1

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