[Scottty4CP] Economy and the Monetary Market
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by scottty the NUKE
Dear eSingapore,
Today i'm going to discuss my plans for the economy and monetary market.
The Economy
Well we have seen some ups and downs on the market this month, with overproduction of grain to a huge price drop on food.
Right now the market has began to settle down a little, except for the lack of grain, due to the high import tax.
Saying that, I am going to propose a bit of a tax reform in some of the fields of our product tax.
The change is going to look like this:
Old Tax
New Tax
Here's my explanation for every tax change, also I will have a final discussion with the congress about these changes.
Food
I have proposed to put the food VAT up to 5%, it's not much of a rise but it's high enough to make the government some more SGD! Which could be used on getting a MPP.
Moving Tickets
With "Moving Tickets" I have proposed to put the import tax down to 5%, we currently don't own that many MT companies and none more can be made. So we are relying on foreigner companies. Lowering the import tax will lower the price for us. So it's cheaper for our citizens to buy moving tickets. I also proposed to put up the income tax to 15% like all the other products income tax.
House
For "Houses" I just lowered the import tax and raised the VAT. For reasons on above prodcuts.
Hospital & Defence System
No point talking about these products, I just made it to look better. 😛
Grain
I have proposed to lower the grain import tax down to 20%. Why? Because since it has been thrown up to 60% we have had a huge shortage of grain and our grain companies are not producing enough for the market!
Oil
Oil import has been proposed to raise to 20%, because we have a lot of it and no importer will really sell in our country. If they do, we will make a little profit for the government.
Stone
Left alone.
Iron
I proposed iron import tax to go up to 10%, to make the government some little extra cash. Also we don't have that many weapon companies so really we don't need that much.
Weapons
Just raised the VAT to 5%, same reason as food.
My Ministry of Industry, will be watching the market during my term. Watching and studying the changes of the market. Then we can work out ways to better our market. Maybe even with opening of GFCs (Government Funded Companies).
The Monetary Market
Well lately we have seen the whole worlds monetary crash. Because of a number of reasons. From the new product formulas to the new crappy 10 gold a day law.
For our market, we have seen a huge change. The value of gold is now 1 gold = 126 sgd. Which is stable for now, thanks to our current monetary market player Loouman.
Next term I am going to give our Ministry of Finance the resources to make our government a profit and keep the market stable from any foreign attack.
Also government printings of SGD will be proposed to the congress. So that not only can we have cheaper currency for the market to make us profit, but also have some to work with the new law that MPPs cost currency instead of gold!
Lastly i'm going to discuss to you guys about making eSingapore only have 1 official bank. Currently we are using 2, which I see no point to. Besides the Admin team has started that there can only be 1 official government organisation.
So all gold and currency will be moved over to 1 bank, during my term.
Regards,
Scottty
President Candidate, April 2011.
http://www.erepublik.com/en/presidential-candidates/country-68
Any questions, send me a PM!
Scottty
Don't let the avatar fool you.
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Comments
Shortage of grain?! I'LL GET MY COMPANY BACK UP, DON'T LOWER IMPORT TAX
Thing all look fine except for the fact that we are going to print more money? If the MPP now require currency instead of gold, i can understand that. Otherwise, i won't understand the reason behind it..
I will like to see your company back up producing grain!! 🙂
VAT rises- silly. Silly silly silly.
GRain import tax back down- Considering a majority of congress just said "yes" to raising it... 😒
But more importantly, keep VAT down.
@iwalkalone - we can use printed money to fund troops. Plus pay for resources for the military companies, making weapons, tickets and food in large numbers does cost a lot of money to buy raw materials. We need some sort of budget. Also some of it can and will be used on the monetary market.
@thedark - check out our grain market, now you tell me was raising that tax even a benefit for us? All it brought was a huge lack of grain! Then we had a huge increase in food price and a lot less food on the market. So in thoery we are making less grain then we need. Congress didn't even think about voting the law and what it would do pretty much they were told to vote yes. If I recall the irc topic the other day.
Also with the VAT many countries have raised there VAT and seen good results. Only raising it 4% is nothing more then a test.
voted hard
Also anything to do with money will we discussed with congress, that's why I created the congress room.
Be*
@Scotty I ❤ Alana lee to! 😉
Can I be a minister? Oh and I will still sell iron in your country ; )
We have around 40k SGD, why the rush to print more?
Gold still holds its value better then SGD any day. If govt needs SGD we can print at the time of need.
I recall my previous statement, We have 70k SGD ... really, we need more?
I think not.
I will say it once again. All things related to money will be discussed with the congress. I am only giving the country ideas, ideas so that we can expand and get something done. We shouldn't even have 70k sgd if we had supplied our military to improve.. This game isn't about saving money for times of needs it's about preparing for times of needs by training your military members. Our country does less damage then malaysia in the Australian training wars and that because our military isn't being funded with weapons to do real damage.
Well that's fine, I didn't say it wasn't. But you don't need more to do it. They just printed like 30k not too long ago, and then when we recovered the 30k from the stolen org it created an abundance.