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More Govt support given to cushion impact of GST hike if need arises
Description
Synopsis: The Straits Times analyses Singapore's latest news and announcements in this weekly podcast.
The Straits Times' Zakir Hussain, Singapore editor at The Straits Times, speaks with Money FM 89.3's Timothy Goh and Bharati Jagdish.
The Government will continue to monitor inflation closely and is prepared to do more if the economic situation worsens significantly, Deputy Prime Minister Lawrence Wong said in Parliament on Monday (July 4).
He said the $6.6 billion Assurance Package, which aims to cushion households from the impact of the looming goods and services tax (GST) increase, still holds as it was designed with a buffer in case of higher inflation.
In this week's episode, the team discusses how far the Government plans to cushion the impact of the impending GST increase given rising inflation and higher prices for Singapore households.
Produced by: Zakir Hussain (zakirh@sph.com.sg) & Money FM 89.3
Edited by: Nadiah Koh
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