'Two Singapores' could emerge if more not done to fight inequality

[The_King]

SINGAPORE: “Two Singapores” may emerge if more is not done to fight against inequality, Singapore's Leader of the Opposition Pritam Singh warned on Wednesday (Feb 22).

Kicking off the parliamentary debate on the 2023 Budget statement, the Workers’ Party (WP) chief called this potential emergence a threat that has "loomed large on the horizon in the last few years", and one that may become reality.

One Singapore, he said, is connected to the world as a hub economy, where high salaries and opportunities abound.

The other is where the majority of Singaporeans live, where there are perceptions of slowing social mobility, connected to the reality of high housing prices, Mr Singh added.

“These two Singapores could easily become a reality that causes friction in society. Singapore is a tiny red dot and both these Singapores would unavoidably rub up against each other,” he said.

“There is no countryside to retreat to, where the pace is slower and prices of things are lower than in the city ... With people living cheek-by-jowl, such views can easily take root and manifest themselves in cruel ways.”

Mr Singh was expressing reservations over Budget 2023's characterisation by some as a "Robin Hood" budget - or one that takes from the rich to give to the less well-off.

He noted the Government’s moves through the Budget to "better equalise opportunities through fiscal intervention" - such as raising taxes and duties for high-end property and luxury vehicles.

But Mr Singh said commentators calling it a Robin Hood Budget would "reinforce the perception of two Singapores being created".

“Referring to it as such pits one group, high earners and the rich, against the lower and middle-classes,” he said.

“For those of us on the ground, our social trends are clear – a rapidly ageing population; a belief that social mobility for younger Singaporeans contrasts markedly with that in our parents’ generation; and a view that meritocracy has developed a perverse edge, allowing the well-off to move ahead much faster than the broad middle-class."

To combat both the perception as well as the reality in some quarters of two Singapores emerging, redistribution must be at the core of Government policies, said Mr Singh.

 

JOBS AND LEAVE

While the WP secretary-general said his party supported Budget 2023, he also raised questions over specific announcements. 

He asked how the new Job-Skills Integrators initiative - to help employers enhance training and placement of workers - differed from past efforts such as professional conversion programmes and SkillsFuture frameworks.

Mr Singh also asked what performance indicators would be used to determine the effectiveness of Job-Skills Integrators, as well as the fiscal outlay set aside for it.

On the extension of the Senior Employment Credit - which provides wage offsets to employers who hire older employees - Mr Singh said employers could be given more support, noting that the Government pays up to 3 per cent of wages for workers aged between 55 and 64.

During his speech, he also addressed suggestions - made in the wake of paternity leave being doubled - to excuse men from National Service (NS) duties for the year of their children being born.

“Speaking as an NSman, I would be very cautious about moving in this direction," he said. "I would suggest leaving it to unit commanders to determine how best to accommodate the specific requests of their servicemen, as they have been doing for many years already.

“If a unit is having a major exercise or conducting a critical operation, the needs of the Singapore Armed Forces or the Home Team agencies cannot and should never be compromised," he added.

RETIREMENT AND HOUSING

Turning to retirement adequacy, Mr Singh said the WP supported the rise of the Central Provident Fund (CPF) income ceiling to S$8,000, but he sought clarifications on whether the Government considered allocating a higher percentage of CPF funds to the Special Account.

This, in his view, would serve the retirement needs of Singaporeans better, due to the higher interest of the Special Account.

For the increase in CPF grants for resale flat buyers, Mr Singh raised concerns about home prices rising to match the new grants for eligible first-timers.

“This could happen as a response to the increase in grants. But more likely, price rises could happen because buyers will be tempted to bid more for a flat they want because they know have the additional grant to enhance the price they can pay,” he said.

He also called for more details on the valuation of land for public and private use, including how such sales of private land below market valuation intersected with the Government’s call that HDB land not sold at market valuation would amount to a “raiding of the reserves”.

“The Government should reply to these questions, which are asked with a view to considering alternative approaches to the valuing of land for 99-year leasehold public housing," said Mr Singh.

"These are questions that members of the public are interested in, particularly since the details and principles of this subject has not been significantly ventilated in public."

Source: CNA/vl(jo)

[The_King]

i confirm not on lighting side

[Londonchocolateroll]

Not happening unless the PG and Merdaka Generation are gone. Sinkies are too hum chee and acquiescent

[Huat Zai]

37 minutes ago, The_King said:

SINGAPORE: “Two Singapores” may emerge if more is not done to fight against inequality, Singapore's Leader of the Opposition Pritam Singh warned on Wednesday (Feb 22).

Kicking off the parliamentary debate on the 2023 Budget statement, the Workers’ Party (WP) chief called this potential emergence a threat that has "loomed large on the horizon in the last few years", and one that may become reality.

One Singapore, he said, is connected to the world as a hub economy, where high salaries and opportunities abound.

The other is where the majority of Singaporeans live, where there are perceptions of slowing social mobility, connected to the reality of high housing prices, Mr Singh added.

“These two Singapores could easily become a reality that causes friction in society. Singapore is a tiny red dot and both these Singapores would unavoidably rub up against each other,” he said.

“There is no countryside to retreat to, where the pace is slower and prices of things are lower than in the city ... With people living cheek-by-jowl, such views can easily take root and manifest themselves in cruel ways.”

Mr Singh was expressing reservations over Budget 2023's characterisation by some as a "Robin Hood" budget - or one that takes from the rich to give to the less well-off.

He noted the Government’s moves through the Budget to "better equalise opportunities through fiscal intervention" - such as raising taxes and duties for high-end property and luxury vehicles.

But Mr Singh said commentators calling it a Robin Hood Budget would "reinforce the perception of two Singapores being created".

“Referring to it as such pits one group, high earners and the rich, against the lower and middle-classes,” he said.

“For those of us on the ground, our social trends are clear – a rapidly ageing population; a belief that social mobility for younger Singaporeans contrasts markedly with that in our parents’ generation; and a view that meritocracy has developed a perverse edge, allowing the well-off to move ahead much faster than the broad middle-class."

To combat both the perception as well as the reality in some quarters of two Singapores emerging, redistribution must be at the core of Government policies, said Mr Singh.

 

JOBS AND LEAVE

While the WP secretary-general said his party supported Budget 2023, he also raised questions over specific announcements. 

He asked how the new Job-Skills Integrators initiative - to help employers enhance training and placement of workers - differed from past efforts such as professional conversion programmes and SkillsFuture frameworks.

Mr Singh also asked what performance indicators would be used to determine the effectiveness of Job-Skills Integrators, as well as the fiscal outlay set aside for it.

On the extension of the Senior Employment Credit - which provides wage offsets to employers who hire older employees - Mr Singh said employers could be given more support, noting that the Government pays up to 3 per cent of wages for workers aged between 55 and 64.

During his speech, he also addressed suggestions - made in the wake of paternity leave being doubled - to excuse men from National Service (NS) duties for the year of their children being born.

“Speaking as an NSman, I would be very cautious about moving in this direction," he said. "I would suggest leaving it to unit commanders to determine how best to accommodate the specific requests of their servicemen, as they have been doing for many years already.

“If a unit is having a major exercise or conducting a critical operation, the needs of the Singapore Armed Forces or the Home Team agencies cannot and should never be compromised," he added.

RETIREMENT AND HOUSING

Turning to retirement adequacy, Mr Singh said the WP supported the rise of the Central Provident Fund (CPF) income ceiling to S$8,000, but he sought clarifications on whether the Government considered allocating a higher percentage of CPF funds to the Special Account.

This, in his view, would serve the retirement needs of Singaporeans better, due to the higher interest of the Special Account.

For the increase in CPF grants for resale flat buyers, Mr Singh raised concerns about home prices rising to match the new grants for eligible first-timers.

“This could happen as a response to the increase in grants. But more likely, price rises could happen because buyers will be tempted to bid more for a flat they want because they know have the additional grant to enhance the price they can pay,” he said.

He also called for more details on the valuation of land for public and private use, including how such sales of private land below market valuation intersected with the Government’s call that HDB land not sold at market valuation would amount to a “raiding of the reserves”.

“The Government should reply to these questions, which are asked with a view to considering alternative approaches to the valuing of land for 99-year leasehold public housing," said Mr Singh.

"These are questions that members of the public are interested in, particularly since the details and principles of this subject has not been significantly ventilated in public."

Source: CNA/vl(jo)

 

 

[noobmaster]

No choice. One gst voucher and some payouts can make sinkies forget all these

[Homelander]

13 hours ago, The_King said:

i confirm not on lighting side

 

Think those on lightning side are already quite well to do and profit from their policies or those that are trying to get into that circle

[The_King]

13 hours ago, Huat Zai said:

 

 

 

the people

them

[XianGe]

Tiongland $$$ already here + lich abnn + loch amdk... they will form the elite asia 'monaco' while peasant sinkies still paying off 'affordable' HDB in 2yrs... 

 

[The_King]

4 hours ago, XianGe said:

Tiongland $$$ already here + lich abnn + loch amdk... they will form the elite asia 'monaco' while peasant sinkies still paying off 'affordable' HDB in 2yrs... 

 

It will get even worst like what happen oversea