SINGAPORE (Aug 20): Singapore is going ahead with the planned hike of the goods and services tax (GST) from 8% to 9%, with effect from Jan 1 next year.

The government is considering a bigger "Assurance Package", in a mix of vouchers and other subsidies, to help people deal with the higher cost of living as a result of the higher consumption tax, said Prime Minister Lee Hsien Loong.

Deputy Prime Minister Lawrence Wong, who is also the finance minister, has been promised to "study it carefully"...(click here to read the full story on theedgesingapore.com.)