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Budget 2024: It’s getting harder to project future government revenue
Variances in corporate income tax, property taxes and GST can be worrying, but the overall broadening of the tax base provides some stability.
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There is little conversation on the projection of government revenues beyond the immediate year ahead but there should be more, says the writer.
PHOTO: ST FILE
Simon Poh
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Every finance minister has a sacred but unenviable task: Manage a nation’s budget, with the country’s future at stake.
Fiscal sustainability has become a real problem in some countries, underscoring another important role for the finance minister, and that is to rein in public spending. But many fail on this score, and some governments have resorted to substantial borrowing to fund escalating expenditures.
