Friday, March 01, 2013

Budget with changes in the right direction.....several years late!

"In a nearly two-hour speech, he detailed plans to make the tax system more progressive and further increase subsidies for lower-income and elderly workers in order to help improve social mobility.

He also disclosed measures to mitigate the country's reliance on foreign labour and to improve productivity.

.....
He acknowledged that society is facing widening income disparity. "We must take further steps to temper inequality," he said.

Our strategy for achieving higher quality of growth and an inclusive society are bound together, he stressed.
While fixing these problems, Singapore has to shift gears for an economy and society in transition, he pointed out" - Yahoo Report on DPM Tharman 's Speech

Minister Tharman started his budget speech by acknowledging the problems faced by our society.  Here is a summary of measures taken by the govt in this year's budget:
  • Dependency ratio ceilings in the services sector will be cut. The overal DRC will come down from 45 per cent to 40 per cent, and the S Pass sub-DRC will go down from 20 per cent to 15 per cent.
  • Government will also introduce a tiered salary system based on age and qualifications of the applicant to level the playing field for local workers in the same jobs.
  • Health subsidies to be boosted. Medifund will be increased by $1 billion to $4 billion and Eldercare to go up by a quarter million to $3 billion.
  • It will also provide subsidies of up to 80 per cent of lower-income elderly's consumables.
  • To help older Singaporeans with their healthcare expenses, there will be a $200 top-up to the CPF Medisave Accounts of all Singaporeans aged 45 and above.
  • Government will more than double spending in pre-school sector to over S$3 billion over the next five years. It will expand capacity so pre-schools are closer to homes and bring more operators to the anchor operator scheme. Salary grants will be given to the AOPs so that all their pre-school teachers will be graduates or diploma holders, up from 80 per cent today
  • An additional $72 million will be put into Opportunity Fund for students from less advantaged backgrounds and will be extended to polytechnics. $300 million top-up to Edusave fund.
  • Tharman also unveiled enhancements to Workfare Income Supplement (WIS) starting from January this year. Coverage will be broadened to those earning a monthly wage of up to $1,900 per month, up from $1,700. 
  • He bared  a three-year co-funding package under a new Wage Credit Scheme. The government will co-fund 40 per cent of wage increases to Singaporeans with gross monthly wage up to S$4,000.
    WCS payouts will be paid out to employers automatically and annually over three years. No application needed. The scheme will cost government $3.6bn over 3 years.
  • The concessionary foreign domestic worker levy will be reduced from $170 to $120 per month. This will mean that a family will save an additional $600 a year'
  • Businesses that invest a minimum of $5,000 per year of assessment in the productivity and innovation credit (PIC) qualifying expenditure will receive a dollar-for-dollar matching cash bonus.
Before I go into  various interesting aspects of the budget, I will give a general comment.

If this was the 2004 or 2005 budget, I would have applauded the govt for anticipating the problems we were facing in years ahead and doing something about them before the problems became too numerous and too big. Unfortunately, this is the 2013, our income inequality has grown, our dependence on foreign labor has worsened, our productivity has fallen over the last decade, and the cost of living has escalated to a point that we see middle income families facing enormous strains and poorer families struggling. The budget speech by Tharman started off by correctly identifying the major problems that plague our society and economy and the measures taken in the budget are steps in the right direction but this is a budget almost a decade too late and we are now dealing with huge gaps not fine cracks in the system. While fundamental changes such as revamping our healthcare system does not come from the measures in the budget, the 2013 budget tells us about some of the tweaks the govt has in mind for the problems we face.

One of the most talk,(. about move is the decision by MAS to restrict the car loans:

Beginning on February 26, the central bank said consumers will be limited to borrowing 60 per cent of the purchase price of a motor vehicle when the open market value (OMV) is S$20,000 or less.

A tighter limit of 50 per cent will be imposed when the OMV is more than S$20,000.


The MAS is also capping the tenure of a motor vehicle loan at five years.


While some people wanting to buy cars are unhappy that their ability to borrow as much as they want is curtailed,  I think the move by MAS is a good one. However, it is also an example of a measure that has to be drastic because the MAS allowed easy credit for car loans and unsecured loans to go on for too long. There is now a consumer credit bubble and such measures are necessary to bring down the level of debt. Some people are unhappy because they believe the rich will now have an advantage over the "poorer" people who need to borrow to buy cars. The rich will always have an advantage as they don't need to borrow.  By pushing out people who are going to get heavy debt just to own a car, you bring down the COE and Singaporeans pay less for the same thing so there is overall benefit - unfortunately some people who need it badly now have to accumulate savings for the down payment but overall the measure will encourage people to be more prudent with their money. The intention of the govt cannot be questioned here because the move is likely to reduce their revenue from COE. The problem with these measures is there are loopholes like the availability of unsecured loans from banks and money lenders that allow people to circumvent these measures, The other possible problem is the rise in COE is largely caused by the rich who are not affected by these measures - if this the case, these measures will not bring down prices to benefit the middle class families. The MAS has probably done the modeling from the income distribution of car buyers when it came up with these measures and the success can be measured by how much the COE falls.

I will end up paying more in property tax with the introduction of progressive property taxes. This is another move in the right direction to tax Singaporeans who are wealthier to fund social spending. Many Singaporeans, like myself, benefited from the rise in housing values seeing our wealth in the form of property double in the last few years. The problem with this measure is there are many retirees and older folks living with zero or low income in old private housing who will be affected - they have no intention of selling their property and have nothing to gain from the rise of their assets because they have not intention of monetizing it. Given their age, they may want to stay in their present homes for various reasons. For younger working people, the rise in property tax is probably manageable so long as they did not over leverage.

The WIS (Wage Income Supplement) to subsidize the wage increase of Singaporean workers for 3 years looks like a derivative of  Workfare - instead of subsidizing wages, they subsidize wage increments. Like I have said in the past, Workfare & WIS are non-ideal solutions to very bad problems....they involve subsidizing businesses who do not pay workers well. They do provide some help for workers in the short term using tax dollars, but the root cause of low wages remains.

 I generally welcome govt moves to restrict foreign workers despite the outcry from the business community. There is a issue now to be resolved - which category of workers to restrict? Construction workers who don't compete with Singaporeans or PMETs that have more value add to our economy but compete with Singaporeans for jobs. Businesses have persistently claimed  that they need foreigners to fill positions because they cannot find Singaporeans. If what businesses say is true, then it is inconsistent with data we have showing structural unemployment and the feedback from ordinary Singaporeans who say they experience intense competition from imported labour. There is support now for a market test - businesses need to show that they are unable to recruit Singaporeans - for businesses that want to hire foreign workers. Since businesses claim they have tried and are unable to find Singaporeans for the jobs, they should be able to furnish proof to support their claims. The problem is businesses are so used to easy access to foreign labor, they find any form restrictions tough:

“Increasing productivity is good, but we’re a labour-intensive market, We will always need people to man the store, so what can done to reduce our reliance on manpower? Also, space constraints make it difficult for us to deploy automation equipment like dishwashers.” -  Mr Darren Lee, owner of Wafflicious Cafe[Link]

With foreign labor businesses could expand easily, say, in the F&B sector. But the expansion is not without casualties. The demand for space by mid-size businesses and use of cheap foreign labor to compete makes it hard for smaller family run units to survive. The hiring of foreigners creates a chain effect. One business using foreigners to compete causes its competitors has to do the same. When foreign workers come for jobs in our restaurants, they need housing, medical care and various services. The rise in demand leads to more demand for foreigners and the cycle never stops unless disruptive measures are taken. Businesses will always want more foreigner workers and many are unable to expand with restrictions. Unfortunately, it is something that has to be done and because the govt has allowed this to go on for so long without doing anything. If nothing is done now, the dependence will worsen and it will be even harder to act.

The measures to improve pre-school education are important. The variance in quality of pre-school and lack of pre-school education has disadvantaged many Singaporean children at the start of their education. These problems have been discussed for more than 5 years and finding solutions here shouldn't be too difficult as social mobility and access to good education is the cornerstone of the PAP system. While the rest of us also believe in social mobility and access to good education, the difference is the PAP believes that having social mobility addresses the problem of a large income gap and social inequality and we still have a healthy meritocracy. The 2 problems are interlinked and a healthy meritocracy cannot exists when we have such a large income gap - the power and advantage of wealth in an unequal society inhibits social mobility and cripples our meritocracy.

With every passing year, with every budget, we see more  problem emerging as we start to solve the older ones. The leadership never gets ahead of the curve and problems deepen over time. This budget clearly recognize the problems Singaporeans face with the income gap, low wages, foreign influx and rising cost of living but these problems have been with us for more almost a decade and have deepened over the years. This budget is a step in the right direction but much more needs to be done. After tracking all these problems for 7 years on my blog, I believe that despite the measures in the budget, most of our problems will continue to deepen because there is a lack of will to pursue fundamental changes in the system. This 2013 Budget should have been the 2004 Budget or the 2005 Budget...a budget that fixes problems quickly as they emerge rather than one that tries to fix old problems than have turned serious over time. The success of this budget and the actions of our govt today will be measured by improvement in the quality of life a year or two from now. Ordinary Singaporeans who have shown so much patience in the past, today find themselves overwhelmed by a multitude of problems causing a sense of insecurity about their future and a fear of displacement in their own country.

251 comments:

1 – 200 of 251   Newer›   Newest»
Anonymous said...

People feel that the Nordic system got higher taxes, but our system got indirect taxes like COE, ERP,GST & Levies and other taxes, importing more people drive up cost etc.

The Nordic system their government is 10 times less expen$ive to run, therefore those savings can be better allocate to fund, to reduce the birthrate and help the old age?

Their successful mature multi-parties parliament systems, diversify their talents and share the burden of government?

They don't need to use much foreign workers, as the jobs Singaporean shun, all done by their locals as all the jobs shun by Singaporean the pay is relative high, and they don't need to import new citizens, which is a heavy drawback for $Ingapore?

The taxes are higher, but their pay at the low end job like cleaners, construction workers & waiters are much higher a few thousands dollar a month. All those taxes are given back to the workers, when they are temporary out of jobs, health heavily subsidised, free education, retirement benefit etc.? Therefore their birthrate are high, don't to complete much with foreigners?

The has a high standard of living, low wages disparity, high birthrate, their workers are highly productive, highly innovative and their designers are work class?

Anonymous said...

The Poor Also Pay government only know the problems when they start losing vote to opposition parties. Other than that they cannot see the problem. So please vote wisely during election.

Anonymous said...

more equitable tax system??

haha .... now 2013, we still having;

individual tax reliefs of 2 parts totally S$3,000


and .... give xx% relief on the tax payable .. benefitting those in the high tax bracket


stomp ... stomp, i dunno what to say

Anonymous said...

Can you rewrite and edit it in straits time forum?



CPF used to be able to withdraw orginally, at the age of 55, when it was set up, now changed to the age of 62 then 65 and possibly 68 and no more withdrawing a lump sum, only give out monthly, a few hundred dollars of allowances?


For certain types of people, that can't handle their own money well, don't allow them to handle their money it is understandable?


But those who can manage well their money, should be allow to withdraw their money, to manage it themselves, so that he or she don't need of thinking to emigrating, then to be able to withdraw their money to get better returns?


CPF should reconsider to allow some people, who had consistently proven good track records in investing, who were able to beat the market of much higher then the, 3 percent interest putting in the CPF, to allow the persons to withdraw it, this is a more equitable system?

To one size fit all is a brunt instrument, will curtail creativity?

How about those who excelled in investments, need the money to invest?

CPF should gave back this type of persons the money at 55 years old as promised earlier, when they create the CPF originally, and widen the options available, that allow people to withdraw their money, not only through emigrating only?

The reasons to delay or altering the rules, is worrying about people overspend or spend all their CPF and don't have sufficient savings to spent later part in their life, this can only apply to those persons, who don't know how to manage well their money? And the average age of a person dying increased?

If the person had proven can manage well his own money, let him withdraw it as originally, when the CPF was set up for retirement at 55, it will create value for the economy and Singapore and possibly create jobs, self -sufficiency and not a burden to the societies, but he must be proven to have a good track record of managing his money well, for at least a few years?

If a person who excel in investments, it is much better to let him invest it himself? This fits well to Singapore goal of encouraging creativity, efficiency, innovations and entrepreneurships etc?

Anonymous said...

You know when hypocrites talk? They sound like priest. One finger points you to heaven, the other finger inserts into your asshole

Anonymous said...

It wants to play robinhood after decades of robbing? Robin hood is fundamentally an outlaw. And you are saying it is heading the right direction? You are quite adapt in changing roles too huh?

Anonymous said...

"...I believe that despite the measures in the budget, most of our problems will continue to deepen because there is a lack of will to pursue fundamental changes in the system."
Lucky Tan

Agreed. Unless there is a better party than PAP to take over the government at the next elections.

Not the current opposition parties, which are just as hopeless as PAP. That's why they cannot defeat PAP.

Hope God help us on this.

Anonymous said...

Don't fudge with numbers. Only idiots will listen to the treasurer

Anonymous said...

http://coolinsights.blogspot.sg/2013/03/whither-productivity.html

Anonymous said...

You cannot control whether problems will deepen or not.

But you can control yourself to make more money, regardless of the problems, or whether they will deepen.

I believe 43% has achieved that. Because if you got money, all problems solved. For yourself, of course lah.

Anonymous said...

Vast majority already cannot afford to retire and you are making a costly car(even with lower COE) more tempting to an average citizen? Do you know how many times an average Sinkie changes cars in 10 years? 50 years of carownship is 50 years of bleeding. You must be kidding right to be elated with the fluctuating costs of owning a piece of metal.

Hey, it is playing with your dick you dickhead

Anonymous said...

With such an economy, there is no such thing as financial prudence for an average citizen lah. Go and fly kite you amateur

Love it! said...

I strongly believe that businesses have creative minds and will rise to challenges.

They became lazy bums when the Gov allowed a cheap and easy resource to be available.

No space for dishwashing machine?
Hah! perhaps too stingy to buy a model that costs beyond budget?
Lack of will and determination to redesign work processes.

The lazy ones will fail and so they should. Going into business is always about profit AND about forever profits... but there is more than 1 way to get it.

I cant wait to see innovation and creativity oozzing out from these lazy bums.

Anonymous said...

Bums are for rocking. ladies love to paarrrteeey! yo yo yo

Anonymous said...

The new budget measures are not just a decade late but also implemented because the ruling party lost a GRC and couple of seats. This is the power of the vote. The slap is long overdue and they need another tighter one in 2016, no thanks to the PWP.

Anonymous said...

So long as they can afford to buy you. So long as evil rises in another shade

Anonymous said...

Vote in the Opposition to protect you from the Pro Alien Traitors and their sneaky taxes like 'GST is to help the poor".

Anonymous said...

I do not agree with the new MAS ruling on motor vehicle loans.

1. By introducing a high initial cash downpayment and loan tenure of 5 years, you are further encouraging people to dump huge savings on a liability that they can only own for 10 years. How is that being financially prudent?

2. It does not solve the issue of the rich monopolising the market, only that they pay even more for their luxury cars.

3. Instead, it creates another problem: pricing the middle-class almost entirely out of the market, eliminating their choices between public and private transport, or a hybrid of both.

4. And given the current state of our public infrastructure, how are you going to handle another influx, this time, people who are now being forced to take public transport?

5. With the new ruling, it makes even 2nd-hand cars hard to afford. What are you expecting the 2nd-hand car dealers to do with all those cars lying around?

Perhaps what would make more sense is to instruct financial institutions to make more detailed and prudent credit assessments on people applying for motor vehicle loans? After all, why should we penalise those who do not default on their loans?

Anonymous said...

Vote LT. Next PM

Anonymous said...

Let's have financial prudence where it really matters;
at the GIC and Temasek Holdings.

Anonymous said...

Like a see saw....or love making....someone gets an up...someone needs to go down....up...down...up...down...your gahmen so horny

Anonymous said...

If you are on the upside, you thumps up. But when you are on the downside, FU

Well, oppies seem to embrace this kind of love making, ya?

Anonymous said...

This is not a new Robin Hood Budget.

This is the same old Ah Lee Baba and the 40 thieves budget.

Anonymous said...

Understandable many companies are govt linked, so they need cheaper foreign workers to reduce costs?

Anonymous said...

Another missed opportunity to act boldly. Always tinkering at the edges. Ordinary Singaporeans must wake up to the reality that the only way Real Change can take place is when the pap is no longer in power. The choice is clear and simple.

Anonymous said...

"After all, why should we penalise those who do not default on their loans?"
Anon 1/3/13 10:17

They do not default but they may barely able to afford.

For this they should be penalised. They should not get a car in the first place if they cannot pay back the loan within 5 years.

Anonymous said...

Do you need faster growth, if you need faster growth you need casinos and foreign workers?

Anonymous said...

Low Thia Khiang is right. Because WP is not ready, majority voters are scared they accidentally vote PAP out of power in a General Election.

Therefore, the solution is to have a party which is ready and also better than PAP to take over. Then only PAP can be voted out of power.

Anonymous said...

A party ready and better than PAP must have a lot of smart people.

But then smart people can make lots of money under PAP.

So why would they want to form or join a party to fight PAP?

Anonymous said...

So why would they want to form or join a party to fight PAP?
Anon 1/3/13 11:55

No wonder lah, PAP is still in power.

Anonymous said...

Smart people only make money.

And if they have the time and the mood, they will blog.

But blogs or Hong Lim rallies can vote PAP out or not, you say lah?

Anonymous said...

It is much easier to make lots of money than to replace PAP.

So for smart people, the choice is obvious.

Anonymous said...

/// But blogs or Hong Lim rallies can vote PAP out or not, you say lah? ///

Definitely cannot vote PAP out.
Therefore you are wasting your time here.
And PAP is wasting money on internet trolls like you.
Since you make no difference to PAP's success.

Anonymous said...

Many business are govt link or govt own, so no choice can only slow down the growth of foreign workers, can't reduce it?

Anonymous said...

Taking in foreigners is like taking medicine.

Take too little, no effect.

Take too much and too frequent or the wrong type, not only cannot cure, but also got lots of bad side effects.

So the inexperienced doctor may by trial and error adjust the dosage and type to get the best result. Of course the patient will suffer in the process lah.

Just like how Sinkies suffer from too many foreigners lah. Now PAP govt is adjusting the dosage.

Anonymous said...

You said it right, they have bred idiots. Idiots can only think like money making idiots.

May the monkeys continue in power

Anonymous said...

Don't talk so much, be productive. .. work work work till Kingdom cum

Anonymous said...

The glass is half filled; the glass is half empty.

The tax is more progressive; the tax is less regressive.


WORD PLAY 101. Any brains require washing?

Anonymous said...

First pacify, then kill. .. pacify. .. kill. ... pacify. ..kill... you watch today live?...What you want? ...What you want? ...What you want?

Anonymous said...

More money is what I want. Can deliver without the meritocratic bullshit?

Anonymous said...

After the retirement of old batches of MP, they need to go back to run the govt link companies?

Anonymous said...

You are too stupid to argue against meritocracy. But then, you have carrots in your mouths

Anonymous said...

To me, how out of touch the govt is to the cost of living here can be seen in the prize money for the Singapore Sweep.

Once $2.2million allowed you to buy a good-sized private property. Now you'd need to cough out at least double that.

The 9 winners of the recent $10m Hong Bao draw will find what sounds like a good sum, will barely cover the purchase of a 5-room HDB flat and the renovation bill for it. Alternatively, they can pay for a good-sized SHOE-BOX apartment in the private sector, and might have a couple of hundred thousand left after furnishing it, if the place is out of town.

Anonymous said...

That's why ministers need to be paid millions, MPs to be paid $15K per month for a part time job.

Your pay and money not enough? Vote out PAP lah, if you can.

Anonymous said...

I admit my pay and money not enough is because I am not smart enough.

More smart = have more money = good life.

Anonymous said...

A stupid breed will be a stupid breed. Long live PAP muahahaha

Anonymous said...

@Anonymous said...
Understandable many companies are govt linked, so they need cheaper foreign workers to reduce costs?

1/3/13 11:33


it's not to reduce cost;

BUT .... to give themselves more BONUS & BENEFIT-IN-KINDS

Anonymous said...

Why is govt-linked companies competing against Singaporean owned companies?
Fair competition or not?
Why is govt doing business in the first place?
So that PAP politicians will have a job as a director when they retire?

Anonymous said...

we do not have to wait for 2016 GE.

we simply need 15K to sit at hong lim park requesting for the return of their CPF

only this will bring fears to them

fuck pap

long live lee kuan yew .... stay mental alert

Anonymous said...

Come 2016, more good years. Huah Ahhhh

Anonymous said...

Vote opposition to save singapore from sinking further. Most ridiculous budget. They are rewarding companies that mistreated locals all these years by subsidizing the increment instead of a minimum wage. they do nothing to companies that employ foreign pmets. they do nothing to people who need a car. they do nothing to reduce the costs of living.

Anonymous said...

Professionals in singapore is the most worst off than in malaysia or any countries. They can only afford lease flats and public transport and cannot afford to retire with ease.

Anonymous said...

'WCS payouts will be paid out to employers' - why should tax payers fund this to the already owned a few ferraris employers? just put in a minimum wage.

'productivity and innovation credit (PIC) qualifying expenditure will receive a dollar-for-dollar matching cash bonus.' - why should tax payers fund this again? just put in as a precondition to get foreign staff.

this budget is full of fishy stuff.

Anonymous said...

Can they hire better tv news reader and presenters or not? So bloody nonstandard

Anonymous said...

It's not your blog 7 years of commentary that drove the current budget measures. . For once., the govt may not have known of your existence in the infinity of cyberspace.. it's more likely the election result of punggol east that galvanized them to seriously reflect on their own ballgame and change. Palmer by his single action has released the floodgates of geains and money to the masses

Anonymous said...

Sex changes everything. Sex, glorious sex.

Anonymous said...

No need to compare to nordic countries, we are not even at malaysia standard of living such as affordable housing, transport, healthcare, job security, education opportunities.

Anonymous said...

Malaysia bagus. Politics lampar though

Anonymous said...

It is naive to think they were clueless about current affairs. I beieve that they did anticipated the situations, but the timing wasn't right then. It is normal for every org to have their agendas and priorities, so this is really the right time to announce the changes since the masses are now ready. Do not forget the many achievements they have proven, I think it is reasonable to say they are many steps quicker than you give them credit for.

Anonymous said...

In short, PAP fucked up big time and now only try to fix the problems they have caused Singaporeans in general to suffer all these years of high costs of living.

Our greedy PAP leaders has already lost their touch and I think some of these problems like expensive HDB prices cannot and will not be solved for years to come.

If they don't cut down the new HDB prices, many new owners will find them unaffordable. But if they decide now to down current HDB prices, many existing HDB owners will feel cheated.

Their greed have made them dug the black hole too big & too deep for their own graves.

Anonymous said...

die die die

Anonymous said...

Can you say they did wrong with the casinos or FTs? Clearly NO. To them they were proud success and trophy achievements. If yuou were sme boss, you would love them, it is just different views and priorities. Rember, one man's meat is another man's ?

Anonymous said...

Two school of thoughts, one is supply one is demand?

Of cheaper foreign worker, the cheaper foreigner workers will depress wages?

Anonymous said...

One thought is to solve the supply side, another school of thought to solve on demand side? Which one is correct on cheap foreign labour?

Anonymous said...

'Malaysia bagus. Politics lampar though'
As if the politics here not lampar. At least the lampar ruling class there treat the working class better than those here. Most professionals there stayed in landed house on one income, own cars, get better return on their provident fund and more promotion and recognition opportunities.

Anonymous said...

There are 2 schools of thought, you increase the supply of cheap foreign labour wage go down, you decrease the supply wages go up, then how?

Anonymous said...

'Employees Provident Fund (EPF) Board, with the approval of the Minister of Finance, ... declared a dividend rate of 6.15 per cent for the financial year ended Dec 31, 2012.'

We are looted by gahmen on our CPF returns.

Anonymous said...

'Dr Mahathir, Malaysia’s longest-serving prime minister who was in power from 1981 to 2003, has been accused of spearheading the so-called “Project IC”, in which citizenship was allegedly given to immigrants for their votes.'

So are we also having 'project ic'?

Anonymous said...

One school of thought said the decrease of cheap foreign labour will affect their operations, another school of thought said the increase of foreign labour will affect their livelihood, then how, what is the solutions?

Anonymous said...

as for now .... i am worrying

HOW MUCH THEY WILL RAISE THE FARES FOR BOTH MRT AND BUSES

wait for the good news ... daft singaporean

fuck pap
fuck lee hsien loong
long live lee kuan yew, stay mentally alert

Anonymous said...

projec ic sounds like project i die

Anonymous said...

Want raise fare is okay, but cheese pie can the bus come faster than 25 minutes? Can the train not break down? Can taxi don't all disappeared at certain time?

Nahbeh my time is money, but nowadays car is too expensive, and public transport is as reliable as the PAP's promises. Always fail!

Car expensive nevermind - just fix the @~!#$%^& public transport! Nationalize it already, goodness!

Anonymous said...

I rather think they are feeling a great sense of achievement - another solid budget surplus (not even counting land sales profit and suppressing investment income). Foreign financial press are repeatedly spreading the "concerns of businesses" about "very tight labour situation", and the govt will, to sugar-coat their achievements as it is bonus-time, take it that their strategy has succeeded and growth is pervasive causing labour shortages. The fly in the ointment of course is GDP grew a statistically insignificant 1% on 16% of loan and credit growth! That to me is downright scary but as usual, no economist worthe his salt is willing to alarm the public: it tells you we are the most debt-dependent economy in the world, worse than China and USA in 2007. Such ratios of growth to GDP is red hot indicator of excessively large hot money inflows, and yet few people know, but Singapore government bond market has experienced persistent selling by foreigners and banks in the last 2 months. The end must surely be very near, but who knows, the MAS still insist on a strong Sing dollar to perhaps, convince foreign investors to stay a while more, so maybe we could still dance another few more months.

Anonymous said...

"Such ratios of growth to GDP is red hot indicator of excessively large hot money inflows,..."
Anon 2/3/13 07:16

Of course lah. If not, who is buying those high end property?

Why are there so many buiding projects going on our tiny red dot, including redevelopment?

We have no oil revenues, you know. So if not for property and financial "hub", how to get those hot money inflows, you tell me lah?

If I were PAP, I would have done the same thing also. Which government don't want to have lots of money as well as power?

Anonymous said...

Exactly. And by doing all these "bad" things, PAP still have lots of power, thanks to best alternative WP being not ready.

If I were PAP, I am very happy. Why care about Hong Lim rally? Can vote PAP out or not?

Anonymous said...

This remind of a story of a man who once said....when he saw many of tua pai come to where he wash backsides...so he said unto them...you chow karnah from chow CB..... who hath warned you to flee from the wrath to come?....... show me the money meet for changes lah....  but you say......limpeh ah gong tua liap...lee buay song ah? .....the chow ah beng said...you see stones or not? ...dont pray pray,..,wait kena knock down you know....  and the parang chop chop your ku ku jiao and then kena throw into the fire ....then plenty plenty of smoke goes up in the air...si bo?

Anonymous said...

Good wages goes up. Employees benefits. Businesses are then forced to find a better way of doing business that rely less on cheap labor. When general wage level goes up it increases consumption - good for economy.

Anonymous said...

That business should fold up and release resources for other more productive businesses - so we need less foreign labor by reemploying locals in successful businesses. Yes such restructuring will some short term pains. But we should be better off in the long term. And this will be more sustainable.

Anonymous said...

Huat Ah. 2016, more good years! Huat Ah!

Anonymous said...

The biggest impact that could possibly change the course of the world is right at your doorsteps and the people can only think of peanuts and dirty tabloids?

You are a bloody joke

Anonymous said...

"In accordance with the Government's movement towards a more inclusive society, SingPost officially kicked off a $10 million fund today (Feb 28) to benefit its lower-income staff.
About 3,400 of SingPost's 4,700-odd employees will benefit from the fund, These are employees with monthly incomes ranging from $2,000 to $4,000."
ST 28/2/13

Wah, SingPost has no staff with income below $2K ! That means even postman got at least $2K lah.

And even $4K monthly income is considered lower income.

So folks, what's your monthly income? Money enough?

Anonymous said...

That's why even if got one million dollars in bank a/c is not considered rich now.

How to, when public housing pigeonhole has reached $1 million per unit already.

Anonymous said...

I believe 43% has at least $4K monthly income. Or else they would not have voted PAP in a by election.

Anonymous said...

" "In accordance with the Government's movement towards a more inclusive society, SingPost officially kicked off a $10 million fund today (Feb 28) to benefit its lower-income staff.
About 3,400 of SingPost's 4,700-odd employees will benefit from the fund, These are employees with monthly incomes ranging from $2,000 to $4,000."
ST 28/2/13

Wah, SingPost has no staff with income below $2K ! That means even postman got at least $2K lah.

And even $4K monthly income is considered lower income.

So folks, what's your monthly income? Money enough?"

Now I realise why I'm struggling. $4000 is considered lower income today and needs a top-up. There are a lot of civil servants working for the government who are struggling with the wage stagnation all these years. This country treats its own people like shit.

Anonymous said...

" "In accordance with the Government's movement towards a more inclusive society, SingPost officially kicked off a $10 million fund today (Feb 28) to benefit its lower-income staff.
About 3,400 of SingPost's 4,700-odd employees will benefit from the fund, These are employees with monthly incomes ranging from $2,000 to $4,000."
ST 28/2/13

Wah, SingPost has no staff with income below $2K ! That means even postman got at least $2K lah.

And even $4K monthly income is considered lower income.

So folks, what's your monthly income? Money enough?"

Now I realise why I'm struggling. $4000 is considered lower income today and needs a top-up. There are a lot of civil servants working for the government who are struggling with the wage stagnation all these years. This country treats its own people like shit.

Anonymous said...

This is ridiculous. My take home pay is $3940 net cash each month and I have 1 child and a wife to feed. I have 2 elder parents to care for and they don't have CPF nor money and they still have to pay their house loan. I have to pay my house loan: $1278 each month.

How to fucking hell KNNCCB!@#%$#@$ survive in this country? Work and fucking hell work like fucking ccb cow and dog and still can't live a decent life. Fuck you PAP!

AvaLianna said...

Its a very nice topic and good information shared by you. Thanks a lot for sharing this with us.

cruise

Anonymous said...

Wah, SingPost has no staff with income below $2K ! That means even postman got at least $2K lah.


In singpore if you are not earning at least a million dollar salary, you are church mouse poor lah.

Anonymous said...

You want a more inclusive society?
Vote Opposition.
There is no other way.

Traitors will never include us into their Millionaire's Party.

Anonymous said...

Meritocracy

PaP Supreme. Best in the world.

Lee Kuan Yew is right. Stop arguing. Meritocracy.

It is the right way. You are all too dumb to know the way.

Meritocracy. Best shall lead. Amen

Anonymous said...

PAP is not the best.

It is the best available.

In the kingdom of the blind, the one eye Jack is the best available.

Naturally, the one eye jack will become the King.

Anonymous said...

You need not be good. Is PAP good?

But you have to be the best available.

The next best alternative WP (with 7 elected MPs only) self declared it is not ready to be available to rule. Actually I agree also lah.

So PAP becomes the best available lah.

Anonymous said...

But then, if you think things are already so bad under PAP, what can be worse?

SO vote PAP out lah.

But then 43% still don't think it is that bad.

Anonymous said...

You must earn at least $4K per month to think it is not that bad.

MPs, including WP MPs, earn at least $15K per month.

So course not bad lah. One even declare PAP is a competent government. LOL

Anonymous said...

How many are exam smart, street stupid?

Anonymous said...

Doesn't matter street stupid or not, exam smart or not, as long as can make lots of money, then it's OK.

It's all about money.

If got lots of money, then life is very good. PAP govt is very good. Singapore is very good.

I think 43% has achieved that. Not too bad lah.





Anonymous said...

There must be smart to make lots of money.

What's the use of being exam smart or street smart if cannot make lots of money?

Anonymous said...

/// What's the use of being exam smart or street smart if cannot make lots of money? ///

And this is why we vote Opposition.
People who love money should not be elected into parliament.
They should be in the private sector.
Examining the assholes of their rich patients.
In their expensive private clinics.

Anonymous said...

You believe only the best. You got the best. Why complain?

Huat Ah!

Anonymous said...

/// You believe only the best. You got the best. Why complain? ///

Traitors still lurk in high places in Singapore.
The work has only just started.

Anonymous said...

Go for the maximium - in childcare benefits and free education like the Nordic to encourage procreation?

Anonymous said...

Go for the maximium - in salaries & pensions like Singapore to encourage "independent minded politicians".

Anonymous said...

ST...ms ibrahim is a funny lady. .. she examined all the noises on the ground. ... wrote long long story. . Than conclude. ... what basically SHE WANTS to see in sinkies ... totally ignoring a huge part of why people make use of Sin.

In a nutshell. .. that's how you get stuck in the wilderness. .. going round and round until you die. .. Some times. .. your enemies are better listeners than even your best friend. ..lol

Anonymous said...

Every erection, many will come out to proclaim "I am the way". Funny or not?

PAP is the way. They are the best money can buy!

Best in schools, best at work and best in community work. The best! Nothing but the best.

The world should listen to them. Nordics should follow us! Amen.

Anonymous said...

Don't forget...no sex scandal. No money scandal. Heck, don't even murder people.

They are saints!

Anonymous said...

"We want Singapore to do well, so Singaporeans can do well".
PM Lee.

Sure or not?
PAP = Singapore?
Singapore = PAP?

So isn't it more correct to say "We want PAP to do well, so (heh, heh) Singapore can do well"

Anonymous said...

They are doing well. A well of wealth for themselves

Anonymous said...

Foreigners are making use of Sin. Sinkies are making use of Sin.

They build a city only your mother would love. Or maybe, they build a city only they would love? HaHa

Anonymous said...

What is there not to love about Sg? Plenty of food, shopping and sumiko tang

Anonymous said...

/// Plenty of food, shopping and sumiko tang ///

Can you afford the price?
You can see, but you cannot buy.

Like Lim Suay Suay say.
My CPF statement make me feel so rich.
Can see. But cannot withdraw until you die.

Anonymous said...

Shutup! Meritocracy Rules. Now go and compete! We ll help you to compete competitively by paying you millions!

Anonymous said...

Yes.
Let's all compete to see who can sack another Millionaire Minister in GE 2016.

Anonymous said...

$100K just to buy the right to own a car for 10 years.

Another example of Nazis at work.
Lampshade made of human skin.

http://www.historynet.com/a-human-skin-lampshade-sparks-a-journey-into-the-heart-of-the-holocaust.htm

Anonymous said...

What is Singapore identity? To be a stupid people?

Teach people to be stupid?

That's Singapore identity. Stupid people

Anonymous said...

"$100K just to buy the right to own a car for 10 years."
Anon 3/3/13 19:49

That's why you need to have lots of money. Then $100K will just be peanuts, as compared to how much you have in your bank a/c.

Nowadays in Singapore, to be considered rich, networth (liquid assets like cash) should be at least $10M. (8 figures)

And a monthly income below $4K is considered below poverty line.

Anonymous said...

"And a monthly income below $4K is considered below poverty line."
Anon 3/3/13 20:53

Agreed.

Because cost of living has gone crazy. Or else PAP would not have lost PE to Ah Lian. And PAP knows. That's why PAP is now even helping those earning up to $4K per month.

Anonymous said...

/// That's why PAP is now even helping those earning up to $4K per month. ///

Yah lor!
You are poor and want to buy a car.
To drive your kids to school.
And your elderly sick parents to a hospital.
PAP govt help you by asking you to pay 50% cash for the car.

PAP - Poor Always Pay

Anonymous said...

Meritocracy.
The old Nazism in a new wine bottle.

Old Nazis use human skin to make lampshades.

New Nazis make you pay $100K for the right to own a car.

Anonymous said...

The world is better off without pap. They made people live in temporary (aka leasehold) housing, made people unable to own car, made people unable to sleep at night for fear of foreign invasion despite being the most hardworking in the world. Vote opposition to save singapore and the world.

Anonymous said...

Meritocray is a myth. Just married LHL and you can be TH chief even if you are a complete moron.

Anonymous said...

Meritocracy may be a myth.
But Marriedtocracy is real?

Anonymous said...

President Obama has decided to follow best practices in other countries.
Mrs Barrack Obama will be appointed Chairman of the Federal Reserve next week.

Anonymous said...

Dear Lucky,

If you have the time, would appreciate if you could have a look at this clip:

http://mashable.com/2013/03/02/wealth-inequality/

It shows the horrendous extent of income inequality in the US today. We never had such analysis done for Singapore (maybe because such data was never published?), would you be able to do a similar analysis of the ACTUAL income inequality of Singapore today?

We have been brainwashed that socialism or social market economy is bad as compared to free market economy? But is it, really?? We have been brainwashed believing that one party govt is good for Singapore, but is it really?

Anonymous said...

Lucky Tan is naive.
He thinks the Singapore Nazis are several years late with the budget changes.

I say the Nazis are 3 years EARLY.
This is the FIRST of 3 pre-election budgets in preparation of GE 2016.

Anonymous said...

"Swiss overwhelmingly vote for golden parachute ban: projection"

http://economictimes.indiatimes.com/news/international-business/swiss-overwhelmingly-vote-for-golden-parachute-ban-projection/articleshow/18779334.cms

Time for our Millionaire Prostitutes to fly to Switzerland to tell the Swiss CEOs about Singapore's open legs, pro alien policy.

Anonymous said...

Subsiding wages the drawbacks is those companies using cheap labour operations been subsidised, can this cheap labour operations not through upgrading themselves, through better efficiency, lower overall cost, reduced wasteage(important of cutting down wastage can boost the company profits and growth, productivity, innovation, automation & robotics, make better and higher value products and services is yet to be seen in 3 years time?

Anonymous said...

The aim of Singapore is to improve the profits of companies, so that they can improve the wages of the bottom 20 percents of the workforces, reduce the wage gap,should the top earners pay more inderect takes to help the disadvaantage to reduce inequalities in Singapore, like the Nordic countries, subsiding the wages is a temporary measures, the long term measure is to improve the companies profit and growth.

The various ways of doing it other over reliances on cheap foreign labour, through incentivise the companies to automatitise, innovations, increase efficiency, better work process, continuous training for workers?

Engages foreign consultants to restructure overall overall, upgrade the SME bosses knowledge on lastest development and innovations, using robotics, continue to cut down wastage a key component in increase workers wages, regular feedback and ideas from workers, continues upgrade and design premium product and services etc

Anonymous said...

@ PAP Sycophant 4/3/13 08:08
/// The aim of Singapore is to improve the profits of companies, so that they can improve the wages of the bottom 20 percents of the workforces, ///

Another PAPig "trickle down" sycophant.

Yes.
The aim of PAP is to improve the profits of companies.

Will the increase profits "trickle down" automatically to benefit Singaporeans?
Let's ask SMRT and former CEO Saw Phaik Hwa.
Record SMRT profits during her tenure as CEO.

Did the benefits of the "increase profits" trickle down to the commuters and SMRT employees?
ANSWER:
- First bus strike in years
- $1.1 billion dollar government subsidy to buy new buses
- first fire in SMRT train station
- frequent train breakdowns
- wood falling onto train tracks
- at one stage, cheap 20 cent plastic ties was the only thing that kept our trains running

It is the companies' job to make record profits.
It is not the companies' job to improve the wages of the bottom 20%.
It is the govt.'s job to improve the wages of the bottom 20%.

PAP's Trickle Down Theory Explained in the following video:

http://www.colbertnation.com/the-colbert-report-videos/341481/july-28-2010/the-word---ownership-society


Anonymous said...

"Like I have said in the past, Workfare & WIS are non-ideal solutions to very bad problems....they involve subsidizing businesses who do not pay workers well."
Singapore's economy is better served by having companies that are not economically viable - whether because the business itself is badly run or they do not have the workers to run it properly because the worker turnover rate is high due to unproductive wages, stagnant careers, etc. - to become bankrupt and allow other companies to be set up.
This also means that workers must be protected better with unemployment benefits in the period after retrenchment.

Anonymous said...

Sinkies sinking fast and enjoying the drowning, they quite enjoy the slow death like it is a form of penitance they have to perform to repent for their blind following of the leadership in the past five decades.

Anyway, repent or not, the fate is sealed and there is no return. The alternative is to make as much as one can or leave Sin to seek a new life. Wealth in Sin does not equate to meaningful living. Sin is very much a barren land for the spirit but vices are aplenty. It is mostly populated by materialistic folks that are superficial, selfish, lacking in humility and egoistic.

Five decades of indoctrinations by a pack of self aggrandizing and avaricious leaders have turned Singapore into a soul-less society. It is very much lacking in conscience and compassion.

Anonymous said...

Huat Ah! PAP the best!

Anonymous said...

Lucky,

you like to talk about Wealth distributions right? This might interest you.

https://www.youtube.com/watch?feature=player_embedded&v=QPKKQnijnsM

Anonymous said...

Live in Sin, die in Sin, normal what. We must accept Sin for what it is because you are born in Sin. Your identity is in Sin because you are Sin and should be proud sinkies. More good years

Anonymous said...

It is good to be in Sin, that's why you are rich. Rich in Sin and punch above your tiny size.

A lot to boast and be proud of.

Anonymous said...

Not to worry, you won't die in Sin. Whoever say you will surely die in Sin is talking rubbish. Just work hard, plan plan plan, upgrade and be productive, be one step ahead of your competitors, be a winner, not a loser, give back to society after you become successful or rich. Teach your kids the values and goodness of Sin and continue the legacy of premier Lee KY.

You will not surely die in Sin. Have faith. Be positive. Look at how clean and Green and orderly Sin is. Don't believe rubbish. You won't die.

Anonymous said...

Sin has learned from the best in the world. Sin has become the best City in the east to work, live and even play. Sin achievements are so great, many are learning the Sin ways and becoming like Sin.

You should be proud sinkies and trust your leaders. You will not surely die but live eternally in the power and prosperity of Sin.

Anonymous said...

But we are paying the highest salaries to our politicians.

Why hasn't the benefits trickled down to us yet?
All the old aunties & uncles working to clean tables & toilets in Singapore.
Has the benefits trickled down to them yet?

After 47 years of PAP rule in Singapore.
Benefits still not yet trickle down ah?
Why are we all still waiting for the benefits to trickle down?

Anonymous said...

"Why hasn't the benefits trickled down to us yet?"
Anon 4/3/13 14:06

It has trickled down, depending on who is the "us".

I believe it has trickled down to at least 43% of them. Of course some have more, some less lah.


Anonymous said...

I believe some (about 17%) will still vote PAP, even if the benefits have not trickled down to them.

Because, although it is bad now, they very scared that if PAP voted out, they will be become worse off.

So they are choosing the lesser of 2 evils.

Anonymous said...

Sin's leaders have realized their vision of transforming Sin into an iconic Garden City, or the perfect Eden. Things are looking really up for Sin, and her inhabitants, and if you stand in front of your HDB's kitchen window, you would have seen a very bright new shining Star risen above your city. This is another sign that wise men have gathered(only three I am afraid) bearing gifts to your great King. The Star is also a known venue celebrating the excesses or prosperity of the other brilliant King. He is also known as the Lion of Judas or the Morning Star. Some call him an impotent King, with an identity crisis. But he is no less, a Prince.

But you, you are indeed a proud and glorious Lion. Nothing fishy about you except your tail. The great Lion of the East with great set of teeth! There is much to celebrate and rejoice. See you at the Star inauguration. Well done Sin.

Anonymous said...

Penitence or not, real patriotic sinkies will swim or drown withe rulers. They are gratef that a fishing village has been transformed into one of the most glittering spot in the world because of the hard work and clean government.
Without the talented and incorruptible leaders, sinkies will remain as coolies and amahs, maybe prostitutes to foreign visitors.

Anonymous said...

LoL

Anonymous said...

"Without the talented and incorruptible leaders, sinkies will remain as coolies and amahs, maybe prostitutes to foreign visitors."

Thats debatable. Then, there were plenty of fertile land to grow banana and sweet potatoes for simple folks. Yum Yum.

Of course, you became better educated full of knowledge. Scored a lot of A...sses

Anonymous said...

Where is the sacrifice?

Anonymous said...

"So they are choosing the lesser of 2 evils."
Anon 4/3/13 14:25

Agreed. How can choose WP as government when they themselves are not ready?

Might as well choose an Ah Beng like me. Of course I also not ready to be PM lah.

Anonymous said...

Ah Lian can, Ah Beng also can lah.

It's all in the mind. You think can means can lah.

Anonymous said...

Because you too stoopig mah, si mm si ani kong?

Let scholun think, you follow, si mm si ani kong?

Anonymous said...

If Ah Beng can, he would have made lots of money under PAP and become multi millionaire.

Why would Ah Beng want to be politician, let alone be PM?



Anonymous said...

Cannot lah...Ah Lian Ah Beng too smart to carry all the weight for peanuts. They prefer work char kway tiao stall and talk..alamak..alamak

Anonymous said...

LOL

Anonymous said...

Aliyah...you die your business lah....it is all business...your leechers say one mah...muahahaha

Anonymous said...

Where is the sacrifice?

Anonymous said...

yaloh...think people very gian to be in power...siao monkeys..muahahha

Anonymous said...

LOL

Anonymous said...

Born in Sin, die in Sin. But die rich is a consolation. Hopefully not die a rich joke. :)

Anonymous said...

Anonymous said...
yaloh...think people very gian to be in power...siao monkeys..muahahha

4/3/13 15:11

Hah....meritocracy is a vehicle for people who lust for power, money and gay sex(lol)....these are the people who would rise to the top of the cockhead...no wonder Sham...the awful said...you can call us idiots...we won't send mati to catch you...and the lowly man said...we are not ready to be idiots...you can have the job....we are looking for first class non idiots......hohohohoho

I reckon even the lowly guy don't know what things come out of mouths of babes.....hohohohoho

Anonymous said...

LOL

Anonymous said...

Joke joke joke...lightning strike than you know :)

Anonymous said...

Minimium wages is the right way to go, it protect the workers, and make companies more efficient in using labour,therefore lowering the wage gap?

Anonymous said...

Either you are a low class kachunputeh salesman or a high class kachumputeh salesman(we call the SiEgo) but it is all the same. Selling peanuts by monkeys to monkeys and for monkeys

You very impress is it?

Anonymous said...

What's new under your underwear? Understand?

Anonymous said...

why scare companies go away because of minimium wages, usually Singapore got 2 milllion foreign workers, usually the companies which go away are those employ cheap foreign worker, likely if those go away still got 1 million foreign worker employ by this companies, around, many of the older singaporean out of job is usually this type of companies that employ foreign workers that took away their job? Those who create value for local workers will not go away, the one go away likely look for cheaper workers in other countries, there lowering the income gap?

Anonymous said...

Three engineers and three accountants were traveling by train to a conference. At the station, the three accountants each bought tickets and watched as the three engineers bought only one ticket.
"How are three people going to travel on only one ticket?" asked an accountant.
"Watch and you'll see", answered an engineer.
They all boarded the train. The accountants took their respective seats, but the three engineers all crammed into a rest room and closed the door behind them. Shortly after the train departed, the conductor came around collecting tickets. He knocked on the restroom door and said, "Ticket, please".
The door opened just a crack and a single arm emerged with a ticket in hand.
The conductor took it and moved on.
The accountants saw this and agreed it was a quite clever idea. So, after the conference, the accountants decide to copy the engineers on the return trip and save some money (being clever with money, and all that). When they got to the station, they bought a single ticket for the return trip. To their astonishment, the engineers didn't buy a ticket at all.
"How are you going to ride without a ticket"? said one perplexed accountant.
"Watch and you'll see", answered an engineer.
When they boarded the train, the three accountants crammed into a restroom and the three engineers crammed into another one nearby. The train departed. Shortly afterward, one of the engineers left his restroom and walked over to the restroom where the accountants were hiding. He knocked on the door and said, "Ticket, please."

Anonymous said...

After those less competitive industries which employ cheap foreign labour left, Singapore got $200 billions of reserve, which can be easier to revamp and restructure the whole industries and close the income gap, its good this type of companies leave so that Singapore can upgrade it imagine and develop more it local?

Anonymous said...

People who think money often leaves out the letter K

Anonymous said...

Once the world ruling class pull out their investment in asia, companies will go bankrupt, jobs will be lost, properties will crash and we will face a recession.

Anonymous said...

If no minimum wages companies will depend on cheaper and cheaper foreign workers?

Anonymous said...

Go for the maximum - the Nordic countries type of systems, their low income gap social system, a minimum wages system, so the worker of wages can't go cheaper and cheaper, due to competition from cheaper foreign workers.

So that Singapore can (Poke above its weight) and not remain a cheap sweat shop?

Anonymous said...

If those companies left, now Singapore can implement policy to help retrench workers temporary tide over with $1000 until the find a job like some developed countries? Minimum wages policy, Possibly a win win situation of restructing economy to a high value economy? So cheap labour economy transform the a higher value economy?

Anonymous said...

You think PAP government so clever ah?
You think we know how to manage a high performance economy meh?
Our core competence is running sweat shops.
You want high performing economy, you better vote Opposition.

Anonymous said...

The findings are right, Singapore productivity are pushed down by cheap labour, which is half of that of USA?

Anonymous said...

Still believe voting opposition will save Sg?
Still believing there are saviours for Sin.
Too late, Sg was set on a journey of no return. The Driver set Sg on the one way highway that has no u turn, Sg is heading the way the driver is going, into the fire and be burnt.

Anonymous said...

The ministers should share the burden and reduce their wages to the level Nordic countries, which their wages is ten times that amount, if they feel that foreign labour should come to Singapore to depress the low sections of local population workers and their sufferings, all are human and every person want to have a better life, they want a higher pay, so do the lower wages local workers?

Anonymous said...

What happens when foreigners become majority?

Will the Prime Minister in future also will be a foreigner?

Then maybe cheaper, better, younger (and faster).

Anonymous said...

Real Sinkies, just like dinosaurs, will become extinct in future.

Whereas dinosaurs were killed by huge meteorite millions of years ago, Sinkies will "kill" themselves in decades to come by not reproducing enough for so long.

Maybe PAP will also be "killed" together with the Sinkies.



Anonymous said...

For fuck you r looking at the Finnish?

Finland numbers some 5.4 million and has an average population density of 17 inhabitants per square kilometre. This makes it the third most sparsely populated country in Europe, after Iceland and Norway. Population distribution is very uneven: the population is concentrated on the small southwestern coastal plain. About 64% live in towns and cities, with one million living in the Helsinki Metropolitan Area alone. In Arctic Lapland, on the other hand, there are only 2 people to every square kilometre.
The country is ethnically homogeneous, the dominant ethnicity being Finnish people. The official languages are Finnish and Swedish, the latter being the native language of about five per cent of the Finnish population.[1] From the 13th to the early 19th century Finland was a part of the Kingdom of Sweden. The Swedish-speakers are known as Swedish-speaking Finns (finlandssvenskar in Swedish, suomenruotsalaiset in Finnish).
With 79 percent of Finns in its congregation, the Lutheran Church is the largest religious group in the country.

Anonymous said...

The reporter sure enjoy a nice holiday, write a report, wait for another overseas assignment, enjoy another holiday, write rubbish.wah...every Sinkies should do this kind of useless job

Anonymous said...

To qualify for private banking (PB), minimum networth is S$5M, according to one local bank website.

6 years ago, the same bank set only minimum networth to be S$1M to qualify for PB.

So based on this criteria, it means a monthly income of $4K now is only worth 4K/5 = $800 6 years ago!

No wonder lah, $4K is the poverty line which PAP now want to help!

And PAP don't anyhow help one woh, unless you are poor.

Anonymous said...

There must be too many multi millionaires and billionaires now in little red dot.

That's why bank now raise the bar to qualify for private banking. Or else too many, and no time and not worth to handle those with lesser amounts.

Anonymous said...

There must be too many multi millionaires and billionaires now in little red dot.
Anon 5/3/13 10:40

It's a good thing to have such foreigners.

Because for sure they won't squeeze with ordinary Sinkies in MRT, buses or compete to buy HDB or low end private property.

Ordinary Sinkies problems arise from those foreigners who are the same, or worse and poorer but definitely cheaper than them.

And problem because of too many of such foreigners. And PAP want to get more in future. Or else how to get 6.9 million population?

Anonymous said...

Singapore has $200 billions of foreign reserves, the profits, dividends, capital gains, and rents, can be used to restructure and transform the economy, with around $30 billions. With their profits around 17 percents?

1. $10 billions to transform Singapore to be a leading tourist attraction of the world, engaging leading tourism experts to submit their proposalsm, plans and recommendations, to improve the infrastructures, facilities and train and develop the local manpower? Targeting at least 23 millions tourist arrival after 2020?

2. $10 billions to develop it local populations and culture to be a leading technology and innovations center of the world, engaging leading thinkers, inventors & industrialists from around the world from the Nordic countries etc. to submit and draw out their plans, how to develop the massive incentives to rewards those categories of people?

And judges the innovations, inventions, patents & designs, oversea submissions are welcome?

3. Release back those CPF of the persons he or she at 55 years old, who qualify if the can get high returns with their proven track records from their investments,to boost the economy?

4. $10 billions to restructure the jobs that local shun, but develop countries used their locals, to make it a well paid, rewarding career and environments, through technology, innovations, robotics, productivity, feedback, oversea consultants, efficiency, better design etc? Jobs like cleaners, constructions workers & waiters etc?

With these initiatives, Singapore can reduce the dependence on cheap foreign workers and importing new citizens can reduce to much less importing to 8k, from the previous projection of 30K new citizens? And reduce the wage gap, improve the quality of living and birth rate?

Anonymous said...

@ 5/3/13 11:07

Is the Pro Alien Party of Traitors interested in making Singapore into a 1st world economy?
Or
Is it their priority to stay in power regardless of cost to the Singaporean.

After 50 years in power.
Do they only have one success formula?
That is every Singaporean must work for cheap wages with no social security?
Is it true that their success depends on every Singaporean sacrificing themselves cheaply for the Singapore economy?

Is it true that they are not capable of running a 1st world, high productivity economy, like the Nordic countries?

Anonymous said...

Don't forget many ministers or mp didn't went through the SMC or one seated elections, many went through the GRC?

Anonymous said...

Debt-inequality thus constitutes a barrier for what used to be the American enterprise system. The problems measured in money terms are not insurmountable, far from it — but unless the political system manages to take action, the prospect of a parallel destiny to what happened in France more than 200 years ago becomes very real indeed.

Anonymous said...

Where is your sacrifice?

Anonymous said...

Forget about importing immigrants to overcome low birthrate, old age problems and grow the economy? This will not work in long run, because Singapore is a small island?

Slowly reduce the cheap foreigners, that depress the wages of local workers for many years? And many lost to jobs to foreigners?

Taxes the high bracket earners more to increase birth rate and babies friendly environments, free educations until graduate? Go and learn from the Nordic countries how they can have high birth rate, which is critical of the survival of a country? Increase the incentives for giving birth?

Better social programs for the older population, as they had contribute the early development of Singapore greatly, as developed by the Nordic?

Singapore got $200 billions of foreign reserves, should have no problems as their returns from investments is quite high? Singapore too got various indirect taxes like COE, ERP, GST and levies etc? All these can be use to (go for the maximum and poke about its own weight) in increasing the birthrate and take care of the old populations? Which now is easy to restructure it industries?

Return the CPF to the old at 55 as originally it was conceived, if they have good track record of managing well their money and get better returns from their money?

Concentrate on bring better life to local population, as the Nordic countries show the examples? The critical point is reduce the income gap?

Anonymous said...

Reduce flatulent gases whie you are at it

Anonymous said...

Anon 11.07


Thanks for the entertainment you joker.

Anonymous said...

How to (Go for the Maximum and Poke above Singapore weights)?

What is the main causes of Singapore low birthrate?

Too many cheap foreigners, when too many cheap foreigners took away the local jobs and depress its pay, it is highly unlikely the birthrate will go up, precisely because couple worrying feeding the children and their job security, so what are the steps taken to improve the birthrate?

Anonymous said...

Skeptics are tired of cosmetic changes. They want changes that stick and is just and...righteous.

Till you come to the edge of the cliff and take a leap of faith into the abyss, you are unlikely to pacify or calm the storm.

Plucky Tam said...

"Not the current opposition parties, which are just as hopeless as PAP. That's why they cannot defeat PAP."

The Workers' Party is not a useless opposition party though. No political observer with discernment would mistake them for an opposition party.

Plucky Tam said...

"Another missed opportunity to act boldly. Always tinkering at the edges. Ordinary Singaporeans must wake up to the reality that the only way Real Change can take place is when the pap is no longer in power. The choice is clear and simple."

There's no need for radical changes. After all, we do have a competent government.

Plucky Tam said...

"Low Thia Khiang is right. Because WP is not ready, majority voters are scared they accidentally vote PAP out of power in a General Election.

Therefore, the solution is to have a party which is ready and also better than PAP to take over. Then only PAP can be voted out of power."

Only in a third world country like Singapore can you find an electorate that conflate hegemony with stability. God forbid we have a multi-party democracy that represents every segment of the population.

Plucky Tam said...

Lee Con You created Singapore in six days and rested on the seventh day.

Anonymous said...

Where is his rest?

Anonymous said...

http://www.tremeritus.com/2013/03/05/rebutting-prof-ngs-propositions/

Exactly, how a person is motivated, and becomes more productive, by more people competing for his already lowly paid job is a complete mystery to me. A business takes into consideration its cost of production when it prices its products and services. Similarly, an individual has to contend with the basic cost of living when he prices his services for hire. A foreign worker has a lower cost structure than a local. Thus more foreigners will drive locals out of his current job market to compete with other locals in a higher paying job market, thereby driving down their wages as well. The only winners are business owners, rent seekers and highly paid part-time politicians with 50 directorships.

Anonymous said...

GE 2016 - Remembering the Traitors in the White Paper vote

Plucky Tam said...

"GE 2016 - Remembering the Traitors in the White Paper vote"

The Workers' Party?

Anonymous said...

"GE 2016 - Remembering the 77 Traitors in the White Paper vote"

Anonymous said...

77 Traitors In White on the wall
77 Traitors In White
If one of them should fall,
There will be 76 Traitors In White on the wall.

76 Traitors In White on the wall
76 Traitors In White
If one of them should fall,
There will be 765 Traitors In White on the wall.

«Oldest ‹Older   1 – 200 of 251   Newer› Newest»