48% of Singaporeans to Spend Less If GST Raised: YouGov (1)

Nearly half of Singaporeans will reduce spending if the Goods and Services Tax is raised, according to a survey released Thursday by U.K.-based research firm YouGov.

• NOTE: Singapore is expected to announce GST will be raised to 9%, from current 7%, in its annual budget on Friday
• Survey was conducted online Feb. 10, with a nationally representative sample of 1,022 Singaporeans 18 years-old and above; data weighted by age, gender and ethnicity, with margin of error around 3%
• 48% of respondents said they will reduce their spending budget within 12 months of an increase
  • 33% will maintain their current ...