looking and a gst rise of singapore at 7%, it's one of the lowest in the world —— looking at.9% or 10%, it's in line with the rates in asia—pacific. in line with the rates in asia-pacific. will this tax binge immediately materialise? we do not expect it to immediately kicked in because the government has said it has enough money for this term, which is up to 2020. it's really planning for the long—term and we expect the government to give us advanced notice for the businesses and people to basically make adjustments and build in their budget in terms of coping with the increase. aimee, we also saw the united states reducing its corporate tax rate from 35 to 21%. —— amy. are we likely to see something in this kind of form from this budget? singapore corporate tax rate has been one of the lowest in the world at 17%. we are the four runner in bringing it down to 17%. can't you bringing it down to 17%. can't you bring it lower? -- four runner. possibly but the scope for bringing it down is very limited so we are going to focus on gst and e—commerce transactions. it's one of the mo

the gst was last raised in 2007 from five to the current 7%. sally.ou soon. now let's brief you some other business stories. the head of latvia's central bank has spent the night in custody. ilmars rimsevics, who is also a member of the european central bank's governing council, has been detained by latvia's anti—corruption agency but no details have been released about why. his home and offices at the bank of latvia were both raided. the prime minister has called an emergency cabinet meeting for monday but said "there are no signs that there is any threat to the latvian financial system". former shareholders in the collapsed british construction giant, carillion, are calling for its management to be investigated. according to a parliamentary report one leading investor — kiltearn partners — considered suing the company. it told the committees looking into the collapse there are clear grounds for into whether carillion's management knew, or should have known about a major black hole in its finances earlier than july 2017. a strong start to the week, n

this story right underneath the brexit story is making the point that this destruction to supplies are gst was a woman on the news asked about her views about not being able to get her tse views about not being able to get hertse and views about not being able to get her tse and she said, i had to go to burger king! —— to get her kfc. people have likely been calling the police saying they can't get kfc —— people have actually been calling the police. we only had one job, to deliver fried chicken, that's what they're saying. we had the chickens, we had the restaurants but couldn't match the two together. the angle is that it's going to continue. were just great to have a weekend without fried chicken —— we arejust just great to have a weekend without fried chicken —— we are just going to have a weekend without fried chicken. to the telegraph, the continuing row overjeremy corbyn and whether he's got questions to answer and the former mi6 says that he has. jeremy corbyn as i'm sure viewers remember, said earlier this week that was a man who created and it is a joke. jeremy corbyn said he cer

introduction of e—commerce tax, so at the moment anything under $400 that you buy online is exempt from that gsthange. but he has not announced either of them, he has mentioned, though, the challenge of the ageing population, and that is one of the main reason is that even though singapore has quite a healthy surplus, it still wants to raise taxes because last year in 2017 the government spent about $10 billion on health care and that is set to rise to at least 13,000,000,020 20, which is quite a hike. so i will keep listening in to see if he announces those hikes —— rise to at least 13 billion in 2020. let's have a look at the markets. the us dollar ending on... i hesitate to call it a strong ending, but it was a strong week for the us market. s and p is always the best wa nt to market. s and p is always the best want to look at rather than the dow, much more representative, 500 stocks across the us economy. the australian market and hang seng also. hong kong and china closed today for new year celebrations. that was of course the end of last week. so of course we will not have those figures to

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gst won't get to 9% from 7%.hat gst in the height, singapore will be among the lowest in asia. the taxes to be implemented, a tax on online, video, music streaming, the likes of netflix, plus a carbon tax of five dollars a ton to raise between $10 and $13 a ton. industrialect large facilities, companies that produce at least 20,000 tons of greenhouse gases per year. of, they account for most singapore's greenhouse gases, so like i said, a slew of taxes, on income for revenue from state-owned investment companies the likes of gse, the likes of -- key spending priorities for the country in the coming year will be on health care infrastructure , which will rise to 3% of gdp over the next decade. yvonne: that was a surprise that we were not expecting. what are the details here. what if i could that have on the property market there? haslinda: you know what? you are right. few saw that coming. higher stamp duty on residential properties over one million from 3% to 4%,dollars, up effective from today. the increase will

protectionist move shows politics ultimately trump's industry is the reeling from the implementation of the gst cash ban modi imposed. that is pretty well known. what it has done in a tour leave for modi is it had almost cost him his home state. now, exports have slowed despite a global economy ticking along nicely and what that has also done is india's trade deficit has ballooned to a three-year high. we will get the january -- figures lady. -- january figures later. all in all, all the sentiments inlected in moody's's speech january endeavors have actually been contradicted in the budget through the import tariffs. david: do we now think that this will help the domestic industry? i will -- i would hope that would be the case. >> met is easier said than done, actually. there are lots of issues with the domestic industry. lack of infrastructure, lack of credit. banks are not lending. chinese imports are flooding helpingd that is imports. the domestic industry does have an issue. whether these import tariffs will help with domestic industry revival at a time when the cycle needs to revive to get

for the next big thing that might be coming out of washington, the secretary has been talking about gstand that something that jay powell talked about, the chairman of the federal reserve. start looking at what's going to happen with the government supporting fannie mae and freddie. >> and the housing market. he's also been talking about regulatory reform with dodd frank that for smaller community banks to close branches and expect movement on those issues as well. that's all kind of wonky it's all about the market and he's not worried. >> thank you. so the fundamentals are good. they're still sort of going through the economic systems are to hear the administration tell it, i'll find. is it? let's ask the reshuffle. we have dan shafer and michelle. are you worried by any of the sword you subscribe to the same view that things are okay. the actual overarching economy is sound. >> the economy is sound, let's ignore the noise from a couple of days, tax reform really hasn't started work in. more important co optimism is really, really strong about the year ahead and they are paying a divid

. >> i don't disagree with any of your comments that you talked about with the gst potential reform putting private money ahead of taxpayer dollars. to auestion i have relates previous person standing at the desk a few days ago. he said he believed a 30 year fixed rate mortgage would occur without a government backed guarantee. by your answer, i think you disagree with that. you believe a 30 year fixed-rate , even with public dollars up front, you need the government backstop at some point in time. , ii am not trying to be cute think this is complex. what i do believe is fanny and freddy would not be able to exist without an implicit or express a government guarantee. i would want taxpayers to be paid for it. this is something we are working with with people and looking for solutions. >> i agree we need a fixed mortgage in this country. reform, therebout are plenty of options on the table. we need to make sure we don't do something to put that at risk. it would have incredible impacts on the housing market and affordability housing. at's talk about escott for second. it was put in in dodd f

your stock has never recovered from the gst.ght back, you are going to see the free float shrink even more. what is the argument for staying listed? chairman said that we are shares also ofk $500 or less. the board has made the discussion to do that. i'm not going to talk about discussions that have been had on the board and reasons for that. the position of ceo's run the company. that is exactly what we are doing. have the highest underlying profit results in 10 years. if the lowest financial leverage and 10 years. -- in 10 years. i think these are all good, strong metrics. we are doing a good job of getting where we said we would get to. aside, using the conversations will return to potential privatization or delisting? we are trying to work out what the sticking point may have been in that conversation this time around. as you can expect, i am not going to talk about conversations in the boardroom. aboutt going to talk privatization. my job is to run the company. i've here to talk about the results. frome buying back shares s

related you have singapore, we do analysts saying, from ould benefit the -- the delayed gst hike alongre's latest budget there. haslinda: all right. singapore budget playing out in the financial market, thanks so much. quick check on the latest business headlines. british re-tear billionaire denies he's planning to sell his high street fashion empire. group owns chains including top shelf and times and the sunny says it was in talks with china. last year the company agreed taylor for almost $120 million. t also just bought a controlling stake in shoemaker valley. playimler is trying to down a used paper report that its own engineers of tioned the legality software used to control iesel powered plants and documents seen have been released. the company and its near 300,000 employees." aimler says it's cooperating with u.s. authorities and has been asked to conduct an internal inquiry. haslinda: let's take a quick property stocks in singapore. there are declines in the benchmark after the government raised taxes. it comes after residential prices climbed for two straight quarters. morgan