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Wong stressed which the effect on the GST hike on low-money homes are going to be "neutralised", a result of the offsets from the peace of mind Package deal and the enhanced GST voucher scheme.

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Wong also introduced three enhancements into the GST Voucher scheme, which he said will "supply continuing offsets for the GST costs of lessen- to middle-revenue households, and many retiree households" further than the period of time coated by the reassurance Deal.

He went on to detail the assorted actions the Government will take that will help Singaporeans, Particularly the significantly less properly-off, cope Along with the improve.

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The reassurance Deal payouts will offset at least five years of extra GST costs For almost all of Singaporeans homes, and read more about 10 years for reduce-income homes, Wong mentioned.

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