We can remain successful if we understand that success is a team sport: Chan Chun Sing
Singapore can only remain successful if we continue to have generations of Singaporeans who understand that success is a team sport, said Education Minister Chan Chun Sing. Speaking at the Institute of Policy Studies Singapore Perspectives 2023, Mr Chan said everyone has the responsibility to pay it forward. “We are all here not just because […]
The home ownership programme is the success story of Singapore, shared by all Singaporeans: Lee Kuan Yew
The site where the Pinnacle@Duxton stands was where HDB built the first rental blocks in Tanjong Pagar in 1963. At the key handover ceremony for the Pinnacle@Duxton on 13 December 2009, Mr Lee Kuan Yew said the transformation of Singapore’s landscape has been breath-taking. As Mr Lee recounted, in the 1960s, most Singaporeans lived in over-crowded shop […]
Leong Mun Wai’s suggestion to remove land costs will leave homeowners bleeding
In a Facebook post, Leong Mun Wai concedes that BTOs are indeed subsidised. He also agrees that the pricing of BTOs should take into account locational factors. He wants prices to be lowered further, and to achieve this, he wants land costs to be disregarded. However, one cannot factor in locational factors while ignoring land […]
Is your BTO less affordable today? Let’s dive into the math for the answer.
If we compare the prices of HDB flats today with the prices of HDB flats built 20 or 30 years ago, of course prices have gone up. But so has income. The rise in the prices of HDB flats are in line with income growth. The question is: is the BTO less affordable today? Let’s dive […]
Good news! Interest rates might have gone up but HDB concessionary rate for home loans remains unchanged
Have you heard of the CPF floor interest rates? Floor rates are the legislated minimum interest rates guaranteed to our CPF monies. It ensures that interest earned by our money in our CPF accounts does not go below the floor rates. The floor rate for savings in the Ordinary Account is 2.5%. And for savings […]
What Singaporeans say about GST and WP’s proposal to use more NIRC for today
Taxation is an intrinsic part of nationhood. It is unpleasant for the government. It is also unpleasant for the ones being taxed. But, it is an inevitable necessity. The Workers’ Party has called for more to be used from the NIRC (Net Investment Returns Contribution) instead of a GST hike – as much as 60% […]
PSP wants 100% of NIRC, WP 60%, or even 70%. What if our forefathers had wanted more NIRC?
It is said that without a vision, the people perish. Visionary leaders take care of the present with their eyes on the future as well so that the people can be future-ready. Singapore introduced the NIR framework back in 2008. The framework allows the Government to treat 50% of net investment returns as government revenue […]
The Assurance Package will delay the GST hike for majority of households by 5 years
The bulk of the GST burden is borne by tourists and foreigners living in Singapore, as well as the top 20% of resident households, Senior Minister of State for Finance, Mr Chee Hong Tat said in Parliament. Around $5.7 billion were collected in NET GST annually in 2018 and 2019. This is after netting off […]
Loh Pei Ying and Yudhisthra Nathan resign, call on good people in WP to keep welfare of Singaporeans at centre
Two long-time members of Workers’ Party (WP) have resigned yesterday (9 Nov 2022). Yudhisthra Nathan and Loh Pei Ying had both appeared before the Committee of Privileges (COP) during the hearing on former WP MP Raeesah Khan’s lies in Parliament. Loh was Raeesah’s secretarial assistant while Yudhisthra also assisted Raeesah. Loh and Nathan had been […]
A close look at WP’s proposal to treat land sale proceeds as revenue for spending
The WP had proposed that land sale proceeds be treated as revenue for budget spending. They still do not recognise that land is a scarce asset in Singapore and protected as Past Reserves. In fact, the land is so scarce, Singapore had to reclaim land to build housing estates (Read here). One-quarter of Singapore is […]