Retailers, F&B players expect significant impact from GST rate hike
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Retailers are worried the GST hike will deter consumers from spending.
ST PHOTO: KUA CHEE SIONG
Ryan Goh, Sue-Ann Tan, Rosalind Ang
Retailers and food and beverage businesses said the goods and services tax (GST) hike will hit them hard, especially if higher prices deter consumers from spending at a time when energy and transport prices are also rising.
While some businesses said they can deal with the increase, smaller heartland enterprises said they might see the shutters come down if costs rise too sharply.
