"You have my word - if the situation worsens significantly, we will be prepared to do more, especially to provide targeted help for the lower income groups.
Mr Wong said Singapore must ensure it has sufficient resources to tackle its longer-term challenges, and do so in a fiscally responsible and sustainable manner. "Hence, instead of a 2 percentage point increase this year, I had decided to delay and stagger the GST increase over two steps, by 1 percentage point from January 2023, and 1 percentage point from January 2024," he said.
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