SINGAPORE (Mar 5): The unveiling of the Budget for 2018 has triggered a healthy debate on how the likely pressures for more government social spending in Singapore should be funded. The government has proposed a two-percentage-point rise in the Goods and Services Tax (GST) after 2021, believing that this would be the best option of the alternatives available.

There are three key considerations that will determine the direction Singapore’s fiscal trajectory will take:

• First, what is the actual starting point in our fiscal position, if we use the approach recommended by international bodies to compute the fiscal position of a country?

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