Singapore’s PM Wong clashes with Pritam Singh over GST rise – ‘poor marksmanship’

Inflation in Singapore was driven by global factors such as wars, supply chain disruptions and rising energy costs, Prime Minister Lawrence Wong said on Friday as he refuted criticism from the opposition that the goods and services tax (GST) hikes had “turbocharged” price increases.

“Even before the GST increase, prices were already going up globally and in Singapore. And here in Singapore, the central bank … had assessed that the effect of the GST increase on inflation would be transitory,” Wong said in his budget wrap-up speech in parliament.

Singapore’s GST increased from 7 per cent to 9 per cent in two stages over the last two years.

Wong was rounding up the debate on this year’s budget, where he addressed questions from members of parliament on issues such as the timing of the GST hike, and support for workers and businesses among others.

This year’s budget comes as Singapore is set to hold a general election by November. Wong became prime minister last May, ending his predecessor Lee Hsien Loong’s two-decades-long rule.

During his maiden budget speech as prime minister on February 18, Wong unveiled a slate of handouts to help Singaporeans weather cost of living pressures and commemorate the country’s 60th year of independence.