$ocbc bank(O39.SI)$ 

The GST voucher feels like getting a few drumstick bones back after someone has eaten both our chickens, yet we're expected to say, "Thank you so much for helping us."

All this "help" benefits were excessively exaggerated in the news and on social media.

The middle class is really getting squeezed to the max! We’re getting less support while feeling the pinch of rising prices way more. These price hikes are racing ahead of our stagnant salaries and frozen GST vouchers. Meanwhile, the cost of living just keeps climbing, like it’s on an endless escalator!

Welcome to the price hike carnival 2025 where every item on your shopping list now comes with an extra 2% GST, escalating from 7% to 9%, and don't forget the inflation roller coaster making everything even more expensive! Enter the GST voucher, our valiant knight in shining armor, attempting to mend the wounds on your wallet after it's been through a 20 to 25% price surge battle.

For the average household of three, these bi-annual $300 vouchers are like receiving a daily allowance of just 54.8 cents per person. That's right, your daily financial superhero can barely afford to rescue your bowl of mee pok from its price jump from $4 to $4.50, and then to $5! And let's not even start on the public transport fare increase, which has its own ticket to this carnival of cost. PTC proudly declared "Overall, fares will go up by 6 per cent - less than the 7 per cent increase in the previous year. The increase is less than one-third of the maximum allowable fare increase."

I don’t understand why they can’t reduce costs when oil prices are at a three-year low. Perhaps it’s due to the high salaries of top management and the foreign worker levy for bus drivers. Since public transport is an essential service, why not waive the foreign worker levies for the drivers? This would lower labor costs and help make public transport more affordable.

The yearly 10 to 20 cent increase in the price of your daily kopi o and teh o can quickly nullify your GST vouchers. These days, asking for an extra plate at a hawker stall might earn you a sour look or even an additional charge. As early as October 2024, NTUC has already raised the prices of their house-brand products, from instant noodles to power extension cords, by 10 to 20%.

The plot thickens; while our vouchers remain steadfast at $300, the inflation villain grows stronger, inflating prices not just once, but sometimes twice, even thrice in a year. Our once-mighty voucher, meant to be the antidote to this inflationary poison, now seems more like a placebo in the grand scheme of economic battles.


If your monthly expenses are around $2,500, the 9% GST adds up to a hefty $2,700 per year—yikes! And if you’re lucky enough to own a private property, brace yourself for property taxes of $2,000 or more annually, depending on your home's value.


Now, for those of us in the banking sector, we’re also forking out over $6,000 in income tax. Put it all together, and we’re talking a whopping $10,000 a year going to the country! That’s like paying for a holiday… that you don’t get to go on!

# Do Government Vouchers Benefit Your Life?

Modify on 2025-01-14 12:58

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  • Ah_Meng
    ·01-13
    TOP
    Sorry, 'complain' might be too strong a word to use here and is perhaps not appropriate... I understand what you mean... I was not saying that you were wrong to point out the insignificance of the "goodies" vs the current economic challenges faced by the commoners. I was merely pointing out that there could be worse government out there...
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  • 400k
    ·01-13
    TOP
    We need opposition party to unlock Singapore assets back to Singaporeans!
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    • Shernice軒嬣 2000
      Just like other advanced economies like the US, JP, the UK, I believe that as SG population becomes more diverse its political landscape will gradually evolve towards a more mature system. This could include the development of a dual-party system, a rotating government, or coalition governance.
      01-13
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  • Ah_Meng
    ·01-12
    TOP
    Thought that you are full time stock player? So you work too?
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    • Shernice軒嬣 2000Replying toAh_Meng
      I remember had long hair  in Sec 1. It became hard to maintain since I was active in sports. I was a bit of a rebellious type back then. My DM told me to tie my hair, and I was caught several times for not wearing my name tag, just to provoke him, I showed up the next day with spiky hair [Grin]
      01-17
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    • Ah_MengReplying toShernice軒嬣 2000
      As long as you are comfortable, that’s the most important. We live our own life for ourselves, not for others. We only live once… Anyway, it’s the heart that counts… you will look good in any hairstyle you choose… you are still young, can change style at different stages of your life if you choose… [Cool][Sly][LOL][Evil][Chuckle][YoYo]
      01-16
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    • Shernice軒嬣 2000Replying toAh_Meng
      Thank you for the compliments! A lot of people keep suggesting I grow my hair longer, but the hassle of maintaining long hair isn’t worth it to me. I’d rather spend that time sleeping longer or taking quicker showers. [Happy]
      01-15
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  • 🤣1200 Big Mac burgers per day 🤣🤣🤣
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    • Shernice軒嬣 2000
      Their tummies have way more room than their brains! [Facepalm]
      01-18
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  • @Ah_Meng I wanted to echo that effectiveness of both the SG and Aussie governments in managing inflation are bad. When comparing the salaries of both leaders, SG's PM earns an amount equivalent to about 1,200 Big Mac burgers per day, while Australia's PM earns around 300 Big Mac burgers daily. This significant difference highlights potential issues of inequility , especially when we look at the purchasing power of the average citizen of both countries. In SG, the average daily wage equates to approximately 34 Big Mac burgers, whereas in Australia, it's around 54 Big Mac burgers. This comparison using the Big Mac Index implies that Singaporeans might be experiencing a lower standard/quality of living relative to Australians, prompting a broader discussion on whether high governmental salaries reflect a priority on personal monetary gain over a passion for public service.
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  • @Ah_Meng I felt that "complain" sounds negative.
    Inflation impacts everyone globally, but its effects are felt less by Singapore's Prime Minister due to his position as the highest-paid leader in the world. Singapore’s appointment holders and top civil servants also receive significantly higher pay compared to their counterparts in Australia. In contrast, the Australian government shares the financial burden with its citizens. 

    In Singapore, top salaries are paid to leaders and top civil servants, while citizens bear the brunt of inflation, higher taxes, paying their top salaries. Meanwhile, Australia’s Prime Minister Albanese earns 5.9 times the average national income, managing a USD 1.75 trillion economy with 26 million people, and his daily salary equates to 328 Big Macs. 

    On the other hand, Singapore’s Prime Minister Wong earns 39.2 times the median income, leading a USD 507 billion economy with 6 million people, and his daily salary is equivalent to 1,215 Big Macs.

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  • Ah_Meng
    ·01-12
    Don't complain too much... in Australia , we get nothing from the government. They only look to slaughter the 'pigs' (human labour) whenever they have not enough money for themselves. Talking about robbing the poor (or squeezed middle class) to enrich the rich... so the rich gets richer and the poor grows poorer... yet the government of the day or opposition kept saying how much the residents benefited if they are in power...
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