Having heard the Policy Address by a casino-city government for the fiscal year of 2005, one would find the most interesting part of the address is always at the back. Load of goodies there!
So what has been included for this coming year after the economy has seen a rise in GDP of at least 25% for the last 3 quarters after the opening up of the casino monopoly?
Amongst many of the tax relief packages, a few notable ones are;
Reduction of income tax by 25%. Duty free for non-life insurance as well as bank transactions. No rents for market stalls and subsidy for housing tax.
Most importantly, the introduction of Old Age Subsidy and a rise of 5% income of for all Civil servants.
All in all this will cost the government $3,000,000 in the local currency which I am sure can all be covered by the loads made in the increased gaming taxes.
Everything seems so rosy, right?
But actually there are thorns in the roses. Maybe they are just pricks at the moment.
Overnight, there is an increased drop out rate in schools for the minimum educational qualifications is just the bare mimimum. Don't be surprised that a croupier will earn more than a Masters graduate in any discipline.
Job vacancies are left empty for most would rather flock to work in the glittering casinos and earn big bucks. I mean you wouldn't want to be stuck in some cubicles facing four walls doing accounting work for the people who earn big bucks, right? Why not join them!
Enough thorns/pricks for now and hope no more will come.
Seriously, casinos do bring in tangible economic benefits but regulations and ideas to cope with the possible intangible social problems (social problems that you might not have thought about even!) is really the big issue. But given this tropical island's clean record of parental governance, things won't go that bad, right? Wouldn't it be nice to have a new sprawling tourist attraction out of the mundane non-attractions and occasional heritage conservations done in bits and pieces. Maybe, A(singular)casino will really do the trick!
But really, for the money to roll in, the problems will roll in as well.
Is a case of all or nothing. Just like the neuron stimulations!
