Singapore PM Lee Hsien Loong announced in a speech (Links to an external site.) Links to an external site. late last year that quot;raising taxes is...

Singapore PM Lee Hsien Loong announced in a speech

 (Links to an external site.)

Links to an external site.

 late last year that "raising taxes is not a matter of whether, but when".

1. Explain with the help of data in a graph how Singapore's fiscal position has evolved and how it might evolve over the next 5 years. State clearly what your data source(s) and assumptions.
2. To what degree do you agree that taxes need to be raised in Singapore in the future? (Remember to consider both sides of the argument for full marks.)