Singapore Budget 2020: What is our biggest takeaway?

As a student, it is nice to have some freebies from government. Gst will also not be hiking up anytime soon so my expenditure will not increase. I can save more and invest more.

It is comforting to see that the government is stepping up efforts on the environmental efforts

Good news is that GST will remain at 7% til 2021 at least. Bad news is that the tourism sector will take a hit due to the corona virus.

Guess the main key takeaways are those that impact us as Singaporeans.

1) GST will remain at 7% for 2021

2) The angbaos given by the government.. $$$

3) Additional SkillsFuture Credit

I like that GST rate will remain at 7% in 2021, but I dislike the fact GST will ultimately still need to be increased by 2025. I understand there is a need to continue investment in Singapore’s healthcare system, especially with an ageing population. However, I do hope that government could look for other sources of revenue to fund healthcare expenditure. Perhaps just my wishful thinking.