Did Workers’ Party propose more than one way to dip into strategic reserves?WP proposed to shrink the reserves by using land sale proceeds directly for spending, and then spend more from the shrank reserves by increasing the NIRC to 60%.
If the generations before us had focused on their own spending, we will have less in NIRC to spend today. If we were to have just 20% less NIRC than today’s levels, our GST would need to increase to 11% instead of 9%, to make up for the funding gap. So drawing more NIRC now, means that our children, and the next generation will end up paying more taxes.
Let’s not forget that this ‘future’ generation includes everyone who is young and strong today. You will grow old in the future and be part of that silver generation that needs more support.
#landsaleproceeds #Reserves #WP
https://sgmatters.com/did-workers-party-propose-more-than-one-way-to-dip-into-strategic-reserves/
