28th February 2014, 02:54 AM
Here we go again.
Many folks are overwhelmed with the recent 2014 budget announcement on some goodies. Before they rejoiced themselves too far away, here is the first bitter medicine that one has to take now.
As I expected, our government has the tendency to balance the budget, i.e. what go out but also collect back from somewhere.
The first announcement is the increased of service and conservancy charges with effect from 1 April 2014, followed by another increase in 1 April 2015 at 8 town councils. This is not an April fool joke.
Source : Yahoo Singapore
The reasons cited are that town councils' surpluses have been declining over the years, noting that with its rising maintenance and operation costs, they will "not be able to sustain their operations without incurring operating deficits”.
Recalled that a few town councils lost a few millions in the Lehman Brother crisis, that have eroded a lot in the balance sheets of the town councils.
28th February 2014, 03:09 AM
28th February 2014, 06:19 AM