Economics
Economics, Main Stories, The Singapore Model, Top Story - Thursday, March 18, 2010 12:25 - 70 Comments
$2 billion in PAP town councils’ sinking funds but need to increase charges?
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By Leong Sze Hian & Andrew Loh
Jurong (JTC) and Aljunied Town Councils’ (ATC) Service and Conservancy Charges (S & CC) will increase for all flat types on 1 April.
As Singapore is just coming out of its worse recession, with the economy contracting by two per cent last year and also contracting by 2.8 per cent on a quarter-on-quarter seasonally adjusted basis in the last quarter of last year, unemployment still high at an average of 87,000 for 2009, wages falling by 3.2 per cent in real terms in 2009, and wage cuts that may not have been restored, I would like to suggest that we be cautious in starting to raise fees so soon.
For example, it was also announced recently that Polytechnic and Institute of Technical Education (ITE) fees will also go up from 1 April.
According to Jurong Town Council’s annual report for 2008/2009, it had a surplus for the year of $1.5 million, and an accumulated surplus of $3.2 million.
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