SINGAPORE may have reached the end point of its involvement in the global manufacturing market with the impending departure of Seagate’s plant. While this is not unexpected, it spells a deepening crisis that most Singaporeans may not yet fathom, thinking that the PAP government has the ready solution.
With 10,000 people under its payroll, Seagate is one of the biggest employers in Singapore’s corporate history. With its immense market share, its presence here has generated a whole segment of supporting industries which created many more tens of thousands of jobs for both locals and foreigners.
It is difficult to imagine the impact of Seagate’s loss on our economy.
The great migration of low-end, low-skilled jobs to China began in the 1990s, which is one reason why Singapore decided to move up the value chain in the manufacturing industry. Theoretically, the move was logical and necessary. There were ample opportunities to scale up and higher-end jobs were largely retained here in line with the higher educational achievements of the average Singaporean.Fast forward 20 years now and most Singaporeans are facing a looming job crisis on the back of ever higher cost of living, no doubt a result of PAP’s unbalanced growth policies. The departure of factories not only badly affected the workers but the managers as well. The number of unemployed PMETs represent the gravity of the current situation.
The growing property bubble
The main culprit is the very wide pyramid that supports the top which is largely the result of high property prices. How did Singapore arrive at this crossroad? A relook at PAP’s policies provides us with the undisputable answer.
In the early days of S’pore, HDB flats cost below $10,000 and rose over the years. Even factoring inflation, the growth in HDB flat prices is unnatural and unsustainable for the future generations. The government’s claim that HDB flats are much subsidised compared to the market prices is a distorted view. Selling HDB flats at reduced profit compared to market prices does not do anything to reduce cost for potential buyers, and cannot be called a subsidy.
In short, each new generation will have to pay much higher prices for HDB properties to support the artificial price rise, creating a false sense of wealth and of property value in Singapore.
This form of property price engineering is sustainable only if we can continue to attract or produce enough MNCs to set up businessess and factories which in terms, generates jobs for the various segments of society. The consequences of a failing Singapore is dire compared to other countries due to a lack of natural resources and land for self subsistence. With a large percentage of the population serving mortgages on their properties, it is conceivable that the whole economy could collapse quickly, if large numbers of Singaporeans are no longer able to do so.
The sub-prime crisis in the United States serves as a vivid warning to the government of the perilous path that its policies have created. Ultimately, it is the vast majority of heartlanders who will bear the consequences of this devastating ‘bubble tsunami’ when it strikes.
What can we do?
What can be done to prevent this crisis from erupting? It’s not possible to prevent the crisis but it’s possible to create a soft landing. HDB must revert to its primary role of providing genuinely affordable housing to Singaporeans as in the past. A home is the single most important and most basic asset required for developing a sense of rootedness. The “Swiss way of living standard” is nice to have if not a mere rhetoric. However, the vast majority would consider that a luxury well beyond their reach.
With affordable housing, lower wages can be mitigated which in turn reduces business cost and makes Singapore a more competitive economy again. With less money going towards servicing mortgages, the average Singaporean can put more money into savings and more disposable income will help to drive the local economy. Mortgages are unproductive components of the economy benefiting few among which are the banks.
Higher consumption not only helps to drive the local economy but also helps to distribute income which leads to a more equitable society. As Singapore moves towards the services industries, namely finance, legal, entertainment, retail, and so on, Singaporeans will be extremely hard-pressed to compete with foreign labour for lower pays and jobs.
The government has opened the floodgates for foreigners to come in without much consideration for the average Singaporeans. With depressed wages leading to less financial freedom, the average Singaporean will have to continue to slog to pay for inflated housing mortgages and living costs. The rich, however, will continue to benefit disproportionately, giving rise to a widening social chasm.
There is much to be learnt from any crisis. If we do not, we are priming ourselves for an even more tumultuous calamity. If that happens, we have only ourselves to blame for playing into the hands of the economics of greed.
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The author had rightly pin pointed all the past mistaken policies that result in potential serious problems. There is no easy answers nor solution. China and India will capture most of the low cost manufacturing from S.E.Asia. Even the high end value manufacturing will migrate to China as She move up the value chain. With abandance highly skilled and cheap labour force China will be a tough competitor. India is fellowing close behind. The number of option open to Sinkapore is limited and those low skill jobs will disappeared in time. Discontent will grow and the citizens will look toward the gahment to fix the problem. The IR programme will not be enough to replace the lost manufacturing jobs. More manufacturing jobs will be lost in the future, focing Sinkaporean to compete for jobs currently held by FT/FW. Discontent will grow as there is no solution in sight.
Any real economy has to do with manufacturing and the provision of essential services. But the PAP government fast turning Singapore into a playground for the rich and a large proportion of the population serving the rich.
Many of the wealthy from overseas parked their ill-gotten money in S’pore.
Over the years, the PAP government has grown bigger and bigger and allowed for gambling, casinos, sports-betting, prostitution, expliotation of its people paying them a meagre salary that is hardly enough for the average family.
The savings rate is kept at around 0.25% p.a. and the prime rate at around 5% p.a. No country in the world does this to its citizens.
The interest rates is kept artificially low so as to encourage people to speculate in property. The property tycoons and bankers are indeed having a good time. They are virtually failed-proof.
What can we do?, asked Harrison Goh. I think the best thing to do is to vote against the PAP, like what the Japanese did to their incompetent government.
There are many, many talented Singaporeans and PR that can run this island republic much better than Lee HL and his team.
If a newly-elected government is to fix the problem, it has to be done so soon. The longer it takes, the more new citizens and their hands (of the new government) will really be full.
….to a more equitable society……
I just bought a HDB flat….funny how they are so concerned about loans and grants….My…My….
proberbly sad that a PR couldn’t get it cos….they would have dumped more money into HDB….
1/4 million is quite alot of money to pay over the years…but what they heck..i need a place to live….
HDB = Housing Debt Burden
Asking them to reduce the profits? LoL….I am waiting…..sadly, i think it will go the other way…
is HDB a social enterprise, or a private one that is profit driven?
why is it retrenchments come then people talk about going up the value chain?
should be proactive , preemptive and have vision and not reactive.
did the schools preempted this?
did the policies?
i wonder.
“The government has opened the floodgates for foreigners to come in without much consideration for the average Singaporeans. With depressed wages leading to less financial freedom, the average Singaporean will have to continue to slog to pay for inflated housing mortgages and living costs. The rich, however, will continue to benefit disproportionately, giving rise to a widening social chasm.”
1. Extreme huge inflow of foreigners : Agree.
2. Depressed wages especially for lower income workers : Agree.
3. Risened, high and rising cost : Agree.
4. Rich feels life here is affordable : Oxymoron on my part. When one is RICH, there is Everything is Affordable and that is why they are called Rich.
I do not care about the rich cos implicitly they are not affected like the poorer.
What is there to be concerned for the rich?
Singaporeans are different. They are a special breed -highly tolerant. This tolerance ensure social peace and political stability, regardless of what happen to the economy, or how many foreigners come in, or whatever “good policies” of the PAP. Some more only 4 million and with one third new people( very grateful), 700 sq km, no problem to control.
Unique gahmen+unique people+small size+PAP= peace and stability. Well proven for 40 over years.
Harrison Goh, what you said about SIngapore is quite true and scary. BUT, I repeat, there will be continuing peace and stability. Everything will look normal. That is most important.
Well written piece!
I remember Tharman saying that there is nothing structurally wrong with our economy and this recession is merely cyclical. I do not see that huge employers like Seagate and some other giant MNCs moving out of Singapore as cyclical. The motivation behind making Singapore into a Sin city with casinos is solid proof that there is a structural problem. The Govt reckon that they need the gambling revenues and tourism to have cover the shortfall in GDP left by the Manufacturing sector.
However as Singaporeans are largely hired by the Manufacturing sector, this pose a problem in growing the tourism and service sectors. Thus the easy way was to open the floodgates to foreigners in order to grow the GDP while subtlely “encouraging” Singaporeans to lower their expectations and go for any job that is available. However it is not easy to convert Engineering professionals to Chambermaids. That is probably why the Govt is telling us in so many ways that the fix for our problem is to accept the foreigners.
This is where I feel disappointed with the Govt for looking for easy and short term fix instead of focussing on creating jobs for Singaporeans in the new economy.
Assuming the huge numbers of foreigners are finally integrated into Singapore, with a population of 6 million people. What happens then? My guess, we will have a much bigger problem than when our population was at 3.6million when our economy tanks again.
i feel so dishearted thinking pap winning the next election… but singaporean just don’t have the courage to make changes. they are about able to step out of their comfort zone, and they feel threaten to vote against pap…. talking about democracy…… hah…
So many Singaporeans have spent so much money in the last 15 years on their properties that they cannot retire properly unless they can find a way to *ahem* “unlock their equity”. If housing prices are forced down, the value of the unlocked equity will also fall down. Then we may have to make it official public policy to supplement people’s retirement savings. The money is going to come either from drawing down reserves or by raising taxes.
1. HDB has indeed created a false sense of wealth and property value. Our HDB property value is not even recognise by banks (and MAS) here because they would not lend against this asset value even if you have fully paying up your mortgages – it has no currency beyond the HDB. This is also the biggest expense item in our life – we spend most of our working life servicing interest charged on our mortgage – based on a 20 -30 years mortgage payment, one would typically need to fork our 1 to 2 times the principal of oru mortgage loan.
2. Due to the artificial inflation of value of property, rent has become a major cost component in setting up small businesses here. We have become a nation of employees that work just for the bank and landlord.
Well written article.
It articulates what most Singaporeans feel today, but are not able to put it so well themselves, about the HDB, property prices and the PAP Government.
Can some kind soul (maybe a PAP member) please forward this article to Minister MBT so that he can discuss the issues raised in the article with the Cabinet.
It’s still not too late to make some policy changes to prevent the dam from bursting…
#9,
“What is there to be concerned for the rich? ”
The rich are the bosses.
Those who abuse employees are the bosses.
Those who cheat them of CPF or salary are the bosses.
Those who hire cheaper labors are the bosses. But we need to sympathise with them- they do so to buy new porsches for their children.
Well written. We have been shouting the problem for years, unfortunately these elites do not understand the sub prime problem. HDB itself is creating the sub prime problem like what is happening in the US. On realising it, few years back they farm some of the problems to the banks. Just imagine with 80% owing HDB houses and majority of them still paying their loans.
Think about it, if the unemployment rate keep on rising or employment with low wages what will happen to all the “affordable” housing mortgages.
Look at the whole market, all money are tied to real estate, be it mortgages of residential or rental rate of retail, office and industrial real estate which left very little to dispose in the local market. All in a cycle, retailers have to cover high rental, they have to raise the prices of goods sold contributing to higher cost of living for all of us.
The government has run out of solutions, need people who are passionate to serve the people and the country if you do not want to see Singapore falling apart. We need people other than the PAP to make it right for Singapore and its people now!
it all about money, money and money. nothing else is more important than making money in sg. it is very tiring to live in sg. in short, is there a real life in sg?
Dear PAP
Take care of Singaporeans, not just taking care of Singapore.
Excellent article.. hits the nail on the head..
Thanks for bring it up and articulating it so well..
The question of Affordability makes sense only if applied to the poorer and poor . This question does not make sense to the Rich.
Why?
u want to know the W.H.Y?
Oxymoron is the answer. Rich means can Afford.
There is no need to ask a world record holder can he run.
corrections :
There is no need to ask a world record holder SPRINTER can he run.
To the Rich, ANY COUNTRY is affordable to live in. Singapore is just 1 of ALL the countries they can afford.
The name ‘SINGAPORE’ is getting elusive…
We need a Singaporean Singapore!
Being rich is not a sin, crime or bad as long as it is a level playing field.
When Singapore went into a recession it was the employees who suffered retrenchment and the employers benefited from PAP government scheme.
From the SPH newspaper:
“The Jobs Credit scheme, introduced as part of measures to tackle recession woes under this year’s Budget, was meant to be a temporary year-long initiative.
…The scheme has already given two batches of payments amounting to $1.82 billion to about 100,000 employers…
More than 100,000 employers, which hire about 1.4 million Singaporean workers, will receive a total of $890 million next Wednesday, in the third round of payments.”
Instead of giving handouts to employees the PAP gave money to the employers. We can be sure that some of these companies support the PAP, who in trun exploit the workers.
Another expliotative policy is GST. GST is a form of regressive tax which affects the poor more than the rich percentage wise. $100 GST to one drawing a salary of $1000 is 10%, but for a typical PAP minister who earns $300,000 per month it is only 0.033%.
The PAP government, like the Burmese junta, implements policies that take from the poor and wish them dead. In any true democracy, there is always a mechanism whereby the rich would have to contribute to the society that gave them the wealth.
S’pore owes nothing to the PAP or to LKY, who is like the cock that think he is responsible for the Sun rising through his crowing.
A whole gamut of factors can influence, and trigger property prices to rise. These include abundant liquidity, low interest rates, rising land and construction cost ( raw materials, labour ), inflation hedging by cash rich investors, kiasuism by Sillyporeans worried that their CPF savings will be blown away or locked in perpetuity by the MIW, inflow of foreign funds fleeing political turmoil and instability, hot money seeking quick returns in a real estate market which is very liberal ( no capital gains, foreign ownership limits -other than for landed property and then which can be navigated easily ) etc. But the primary determinant must be raw supply and demand. It is patently obvious that when HDB prices ( rental as well as purchase) can rise in an economy still slowly recovering from an as yet unbottommed global financial crisis. And then at a clip faster than private property where there is more free play ( lesser macro restrictions), there must be an imbalance of supply to demand. The present supply of HDB housing stock is easily ascertained. Forget about those in the pipeline which will be completed only in 2 to 3 year’s time. The demand can also be “calibrated” ( to borrow a favorite verb of those who think exactness is possible and suggests careful planning and deliberation). The number of households based on marriage statistics and the adult working population ( singles etc ) who may need a separate roof over their heads ( for HDB only those aged 35 + ) and of course the number of PRs with student/employment passes married or unmarried. The former is less manageable despite government efforts at procreation initiatives. If nothing else, such measures have long gestation periods. But the last is administratively easier – just a simple policy change. Decide how many to admit to Singapore and decide if they can qualify for HDB primary and resale housing. Despite all the government propaganda about foreign talent, it is clear to all ( oops at least 33% and counting ) that the adjective is a misnomer for all save possibly 1-2% of the foreign labour aloowed into the country. The rest are just ordinary workers. They can do the jobs that you and I do ( but at lower wages cause their overheads are less ). And they will also need housing like you and me. The numbers suggest clearly that the big influx has created the demand for first HDB rental units, and now HDB resale flats. If it was planned for, someone must have fumbled. Instead of forming inter-ministerial committees to look into integration of foreigners, set up one to co-ordinate housing and immigration policies. Solve the chicken problem( maybe also the Geylang types incidentally ) first, not worry that the eggs may now crack in their face! Why in the face of such raw statistics our MIW cannot for once admit that they have made a mistake. They is no chance that their million $ salaries will be cut. But no, they are infallible. And for some greater mortals too. Sigh!
“is HDB a social enterprise, or a private one that is profit driven?”
If it is the latter, is it a 99 year old lease or your property in perpetuity?
I don’t think the fact that HDB flats have 99 years lease makes them less “ownable”. Some private property also have 99 years lease. So lets not flog this ‘ownership” definition. It detracts from the argument that the rise in HDB flat prices is the result of flawed government policies in immigration, pricing ( letting new build HDB flats be pegged to resale HDB fltas when the latter is distorted by “unnatural” demand/supply factors), eligibility criteria. and stubbornly clinging on to high faluting plans to make Singapore a global city without thinking through the social consequences
I saw in today’s Straits Times, the editor insinuated that people want to live in mature estates for “selfish” reasons.
If they have no money, they should live in “ulu” places that may just need an hour plus to travel from home to work.
If you want to be faster, you should buy a car.
Who in the world made him editor? The guy did not even write his name at the end of the article, so I can’t even curse him.
I canceled my subscription, needless to say.
Interesting observations and points of view. However I am left a little confused as to whether we want more government intervention in the housing debate, i.e. the author is suggesting that the government keep HDB flats ‘cheap’. The idea itself is laudable (albeit not new) but it would create a market disconnect because there will be a great disparity between the prices of HDB vs private dwellings.
What then if a true blue Singaporean (like any one of us on TOC) wishes to upgrade to live in one of those swanky condos? If our HDB flat is not comparable to market prices today, then I suppose we just have to find alternative ways to finance that upgrade? Unless of course the author is suggesting that when a buyer buys directly from HDB, there is a price cap, but when that buyer then onward-sells his HDB flat, the price cap does not apply?
I am not trying to discredit the author’s arguments above, in fact I too have some misgivings about how our current government seem to be handling certain issues. But until another party comes up with people of caliber and sustainable alternative policies, I find it hard to imagine the voters casting their votes in the other direction.
to Elveez, let me help you to clear your confusion.
1. yes, we’re asking for government intervention specifically DO NOT LET IN HORDES OF FOREIGNERS WHO WILL, AMONG OTHER THINGS, PUSH UP PROPERTY PRICES.
2. there is nothing wrong with having a market disconnect btw HDB and private dwelling. HDB is meant to provide subsized affordable housing. private developers don’t share the same mission. so what if HDB is much cheaper, it still wouldn’t attract the rich to stay in one. it’s like, there is a huge market disconnect btw hawker food and 5-star restaurants. Would the rich patronize the former even if it’s much much cheaper? The poor, on the other hand, simply ask for some affordable food.
3. It’s not difficult to imagine voters voting for Dr Chee, Kenneth J etc, when you recall these famous words uttered by great people:
- “your mothers and daughters will be maids in foreign countries if we’re not in charge”
- “bar top dancing is dangerous because pple would die because of it”
- “let’s send our aged parents to jb”
- “housing is affordable because it sucks up only 30% of your income, never mind that it means you’ve nothing to retire on.”
- “i feel so rich looking at my cpf statement every month”
i’ll bet truly the opposition parties would be hard pressed to field candidates of the same calibre.
LOL
“I don’t think the fact that HDB flats have 99 years lease makes them less “ownable”. Some private property also have 99 years lease.”
Then the misnomer “private property” should not be applied. After 30 years into a 99 year lease, the value of the property is depreciated accordingly. And my concern about a government lease is that if the government wants to take over the your flat for infrastructure development, it will pay you below the market rate rather than substantially above the market rate if it was legally not the government’s property.
I agree that the HDB should have a clear cut objective of providing low cost subsidized housing to Singaporeans, rather than implement a bastardized hybrid model. In fact, I would propose fully privatizing some of the more expensive HDB estates (which are close to amenities etc.), rebrand into “cheap” condos for the owners to sell to the foreigners who can afford it, implement some kind of tax for 50% of the profit of any sales to funnel back to HDB.
With regards to a property bubble due to rising immigration, it is not unique to Singapore. Buyers should have the common sense to wait and save until the bubble burst, then start buying property.
30) FedUp. I hear you.
In foreign countries, there are always laws to protect locals.
E.g. In Australia, foreigner cannot buy from 2nd hand market easily, hence to curb speculation somewhat. Foreigners pay more for new properties and sometimes have to sell them at lower prices to Auzzie locals.
In some other countries, foreigners are not allowed to buy the cheap public properties so that lower-income citizens may have accommodation.
In Singapore (whatever this means anymore), we are treated like foreigners. Sighs…
28) Economist
There is a good reason why Mr MBT is persuading poorer citizens to move to the ulu…ahem non-mature estates.
If you move to these estates, chances are you are not living near your parents. They save $40k in the process.
Hence, even though poorer citizens are getting suckered, many would have no choice but to go live in these places. Just hope that they can find more than 1 bus service number at their bus stops, and don’t have to wait 20 min for their bus …
France has included “Happiness index” into their GDP. If SIngapore is to include it too, we are surely going to be negative growth…
HDB prices are too high. 30years of your CPF contributions all going into loan payment for a public housing? By the time you retire, you have nothing in CPF.
Close to 1000 Singaporeans have signed up for the petition to urge govt. to increase new flat supply:
http://www.thepetitionsite.com/1/lower-hdb-valuations-or-build-more-affordable-hdb-housing-for-singaporeans
When the JCS is no more giving out money,
will there be more Upsizing the Downsizing to be expected ?
Is it a wise move or a delayed amputation?
When everything else fails, there is still the self-cleaning toilet to rely on.
The future of Discontent -the PAP government’s policies had created such social chasm. The inexplicable high price of property especially the HDB flats are the manipulation of the government and Mah Boh Tan has the greatest part to play .
The average Sporean earns about 3000 dollars per month, much below the sustainable level of survival. With price of HDB for a three room flat at 200,000
to 300,000 thousand, most buyers will be slave to the mortgage loans. And worst of all, commerical banks are involved now. Gone were the days when a loan at low interest was covered by HDB itself.
For a small country like Spore, the social divide is wide in terms of the rich and the poor. Most citizens will have to work their whole life to pay for all the mortgages. With the main one as housing.
PAP has created a false scenario of rich home owners. The fact is everyone is as poor as when his home is not fully paid.
The HDB under the government are the rich entity.
We live to regret having PAP for 50 years with such social upheavel of unrest.
in 2008, population grow by 5.5%
Housing supply only increase by 1-2%?
Of coz, price rocketed! We need more SUPPLY!!!!!
what could be the effect if by pure coincidence, the 5,000 new citizens got flats in HG Ward of LTK?
OR for that matter , they get a unit in Aljunied GRC? Lets say 20,000 of them.
what effect could that have?
“what effect could that have?”
Army must be called in for a freak allocation !
34) Homeless on September 23rd, 2009 6.02 pm
37) lim on September 23rd, 2009 6.52 pm
HDB besides being not able to plan properly (already happened in late 90′s of over supply, now we are facing shortage of supply of HDB flats), they are very poor in Mathematics too.
Pls forgive them.
How much of the data storage industry will remain in Singapore after Seagate’s departure? Does it then still make sense for Singapore to have a Data Storage Institute?
A wind of change is coming and blowing across Singapore! The time for change has come and the time is now! 1st in Malaysia. 2nd in Japan. Now is the turn for Singapore to change. It’s time for Singaporeans to wake up from their slumber and challenge the intimidation and fear PAP always seek to create in the minds of Singaporeans by saying how Singapore will go in trouble without them. Nobody is indispensable. Even if the opposition parties are voted in and formed a coalition government, Singapore will still be business as usual or may even be better.
NCMP and NMP cannot vote against bills and can only voiced their opinions. What’s the point of talking when they do not have the power to check the PAP?
Power corrupts and absolute power corrupts absolutely. It’s time Singapore has a opposition party or a coalition parties strong enought to provide a check and balance to the PAP, similar to the Western-style democracy.
However, if Singaporeans don’t give the opposition parties a chance to prove themselves by stepping forward in faith and vote for them, how can they be expected to prove their competency? Singaporeans can only blame themselves for the 7% GST, losing of $40 billion by Temasek without accountability and transparency, large numbers of foreign workers pushing down the wages and competing with Singaporeans for jobs and HDB resale flats, etc. etc.
The RP is right that defence spending should be cut. If the defence spending is cut, the GST, income tax and corporate tax may also be cut as well. Thus, bringing more income and purchasing power to Singaporeans and businesses. With more purchasing power in the hands of Singaporeans, it can lead to more demands for goods and services and thus, better business to the companies.
With a reduction in corporate tax rate, it can also boost business profits in Singapore and attract more foreign investments into the country and create more jobs for Singaporeans. Why should the welfare of 1 big money wasting machine (not war fighting machine) come at the expense of Singaporeans? The PAP is paying the army regular officers a very high pay in the hope that should there be a freak election, they can depend on the army to keep them in power. That explains why many ex-SAF officers serve in high appointments in the PAP, civil service and statutory boards and even if the opposition parties win an election, they had no power to remove them and has to seek the approval from the President. The SAF is a national service army and Singaporeans serve NS for the defence of Singapore, not for the PAP and the military elites. Moreover, the deterrence value of the SAF comes from the commitment of Singapoeans, NSmen and NSFs to national service. Before the NSmen can defend Singapore agst any external aggressor, they should 1st defend themselves agst internal aggressors i.e. the PAP, the high-paying SAF officers and the foreign talents.
While the PAP is calling Singaporeans to defend their home, they are at the same times bringing in more foreign talents to take away the jobs and HDB flats of Singaporeans. Hence, Singaporeans had been called to serve 2 years of NS and 10-ICT cycle to defend the jobs and homes of the foreigners living in Singapore. Statistics of Singapore revealed that 34% of the population are PRs/foreigners.
With the influx of foreigners into Singapore, Singapore has already been colonised by foreigners through economic means, not military means. Hence, the threat of national security and defence of our nation is not at the military front, but at the home front. Hence, defence spending should be cut by reducing the high pay of the SAF regular officers and foreign talents should be restricted in Singapore for the welfare of the citizens. This is what the government should focus on in terms of national security. The PAP is focusing on defending Singapore in the wrong front and the RP is right that defence spending be cut and foreign workers restricted in Singapore. Hence, it’s time for Singaporeans to take the step of faith to take back their rights as a Singapore citizen by voting for the opposition parties and empower them to break the dominance of the PAP!! If Singaporeans have faith as small as a mustard seed, we can move mountains!
Many Singaporeans cannot afford to buy hdb flats to cover over our heads. Yet the PRs are buying them easily, even those in prime areas. In the process of allowing an influx of FT and PRs, Singaporeans are deprived of many things. Even jobs like cleaners are being snatched by foreigners. Govt encourage the elderly to continue working after retirement age. But nowadays the elderlys can’t even get a job as a cleaner as the jobs are given to younger foreigners. All the crap about Singaporeans picky about jobs etc, etc.
My parents were uneducated and do not own any flats. Till today, we are still staying in a rented flat which could be repossessed any time.
Wanted to buy a flat with my parent but with my income, I can’t afford it. But as the days go by, the price rises absurdly. With the slowdown in economy, our pay are cut resulting in lesser income to jus meet the basic needs. Much less to talk about owning a flat. I very much want to own jus a 3 rm flat… but it is out of reach to me.
But the govt is still not doing anything to resolve the rising housing prices issue. Do they want to see more homeless Singaporeans sleeping under the bridge, in void decks? On the other hand, those who got their blue ics so easily nowadays are sleeping comfortably in the flats they have snatched from us.
Are Singaporeans really taken care of in Singapore?
Empty vessel makes the most noise!
## 26 Economist
1. My guess is that the No-Name Editor who made that uncalled-for commentary about ‘selfish’ Singaporeans in today’s ST is NOT a Singaporean… as he dosen’t understand the pain of true-blue Singaporeans.
That No-Name Editor is probably a foreigner, as with many of the Editors that are employed by the ST today.
2. All letters that are published in the Forum page of The Straits Times MUST carry the writers’ name to authenticate it and to give it credibility.
The fact that a Headline Commentary, written annonymously, that impige on the behaviour / character of Singaporeans was published by The ST makes you question the credibility of The Straits Times.
The ST should rightfully credit the name of the Editor to let readers know whether he is a Singaporean or a Foreigner… who, if he happens to be one, frankly has no business to make such comments about Singaporeans / Singaporean matters.
Correction :
The above post is in response to the one by Economist # 28… NOT # 26.
Sorry for the error.
The reason why our PMETs cannot find work is partly due to their reluctance to take up lower skilled jobs. I don’t blame them coz minister Lim Swee Say thinks our low skilled labours are the source of economic problems.
Town Council Report
So much for transparency and accountability. After all the hue and cry about the 16 million lost by the 8 town council, we now have 8 KPI for the TC reports. Surprise surprise, nothing on the management of the funds or how much bonus the staff are paid. But now they have to be effective on how they collect money from you and me. And we have to pay more if we want the TC to do the jobs they are paid to do. I hope the two opposition TC will disclose more information, especially on the investment of funds, their staff strength and levels, expenditure of manpower including bonuses.
Hope TOC will do a report on this
who can teach me how to migrate else where?
Rights to THINK!
Rights to CHOOSE!
Rights to LIVE!
SINGAPOREANS are not idiots! Treat SINGAPOREANS better.
PAP, dont just treat yourselves better in the name of SINGAPORE!
My first HDB flat was a 4-year old 5-room flat purchased from the HDB at the original price of $27,000 in 1978. It was returned to the HDB by the first owner who had upgraded to a bigger private apartment. At the time HDB could not be sold in the open market but must be returned to the HDB at the original price.
After this resale restriction was lifted my neighbours were selling their flats for as much as $150,000 in the mid 1980s. A 400% profit.
The govt should reconsider the idea of having a separate category of non-resaleable flats for citizens who cannot or do not wish to spend too much on accomodation for their family.