Money that is spent and or invested, creates jobs. Because when one spends, one pays and more people are needed to provide a service and produce something. Money that is saved is inefficient as it does nothing to help the economy.
Perhaps it is time to rethink GST and impose a savings tax instead? Whilst the latter encourages spending, the former curbs spending. But wouldn’t spending create more jobs for everyone? It is a vicious cycle ain’t it?