In light of US tariffs on Singapore and other nations, the Singapore Democratic Party ( SDP ) on Wednesday ( Apr 9 ) demanded the government to “immediately reduce” the Goods and Services Tax ( GST ) from 9 % to 7 % .
The group stated in a statement that” this will go a long way to help Singaporeans deal with the effects of rising prices that may result from the imposition of tariffs.”
It will also encourage local consumption and prevent further rising living costs.
The US president Donald Trump announced levies on April 2 that would establish a universal 10 % tax on all imports into the nation, with even higher rates for nations that he deemed “unfairly” treating the US.
Singapore is also subject to the current 10 % rate, which now applies to US imports.
SDP also demanded that the government reduce costs and charges that were “increased over the last few decades” again to pre-COVID levels.
It recommended that “must be brought under control” among other things, including vehicle and MRT charges, and ERP fees.
The group claimed that its demand for the GST and other prices is in line with its repeated efforts to lower Singaporeans ‘ cost of living.
The move is appropriate because it marks the first in a series of steps to reduce Singapore’s income and wealth injustice, it continued.
Singapore will only be able to stand up and stand up for what it believes it does in this troubled world if the people who call this nation house are given adequate and meaningful support.