Soon poor and middle class will be suppressed
Published Monday, May 14, 2007 by Singapore Election |
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Of course the PAP government is aware that its pay hike move is alienating the lower income Singaporeans (the "poor"). But this will not be a long-term concern. Over time, with 2 more million immigrants joining our population, many of whom are professionals, executives and business people, the percentage of the "poor" will become miniscule and inconsequential compared to the economically well-off. I think the PAP government bets that these "New Singaporeans" (when they opt to become citizens later) will vote in favour of the PAP during the general elections - for if they're not happy with Singapore and the way it's been run by the PAP, they won't have elected for citizenship in the first place. 10 years down the road, the "poor" will be such a silent and powerless minority that, whether the government helps them or not, little or much, makes no difference to the election outcome. It's a smart move.
A PriceWaterHouseCoopers report in 2006 found that the “average Singapore household is one of the most indebted in the world.” At 174% of the personal disposable income, the household debt in Singapore surpasses that of even Britain (116%), Japan (100%) and the United States (90%)
Yes the indebtedness bit is true. Most of the time people are free to choose whether they want to get into debt or not over big ticket items, e.g. purchase of private vehicle. But the PAP govt has made public housing, which is a human right in itself, out of reach without getting into debt.