Chart of the day: Nearly 9 in 10 say GST hike will have the greatest impact on them

Almost half are worried, whilst 46% are stressed about the goods and services tax.

Nearly nine in 10 or 85% of Singaporeans are expecting the goods and services tax (GST), which was announced during the country’s budget 2022, to have the largest impact on them, according to pollster, Milieu Insight’s, February 2022 survey. 

Amongst the respondents, 48% are worried, 46% are stressed, whilst 32% were uncertain about the GST hike, survey data showed, adding that amongst those worried and stressed belong to the lower-income households.

Meanwhile, nearly half or 49% believe that the GST hike should only be imposed after the pandemic ends.

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Data from Milieu Insight

Apart from the rise in GST, 40% Singaporeans said property tax will have a large impact on them. Amongst those who voted for property tax, 44% are parents and expecting parents whilst 36% are those who are not a parent.

Prior to the budget 2022 declaration, 45% are not seeking to upskill in the near future, of which, 11% said they intend to upskill in the next two years, 46% continue to say no, whilst 42% are unsure. A total of 48% of those surveyed said additional government aid is not sufficient to help middle-aged or older Singaporeans on their employability. 

Finance Minister Lawrence Wong last month had announced that the GST increase enforcement will be delayed to 2023. The GST on 1 January 2023 will be raised from 7% to 8% whilst it will be increased on 1 January 2024 from 8% to 9%.

The budget 2022 also included the implementation of new skillsfuture career transition programme and SG united mid-career pathways programme to improve employability.

Milieu Insight conducted the poll from 18 to 21 February 2022 which involved 1,000 Singaporeans whilst the margin of error used in the survey is +/- 3% at a 95% confidence level.