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 […]
CPF contributions will soon be made mandatory for platform workers. NTUC calls for support during this transition.
TL:DR – Mandatory CPF contribution for platform workers from the part of both platform workers and platform companies are to kick in from the later part of 2024, at the earliest. NTUC will be rendering support during this transition. In his National Day Rally speech, Prime Minister Lee Hsien Loong acknowledged the lack of basic […]
Many governments spend first, then look for funding. The PAP Government has a different approach.
In many countries, governments spend first and then look for money to fund the spending. The result is a huge debt burden for future generations when governments make big promises to get elected and then borrow to fund their promises. The Singapore PAP Government’s approach to spending is different. The Government set aside money for […]
Land reclamation costs for coastal protection can be met from Past Reserves: Lawrence Wong
Climate adaptation is a long-term endeavour by the PAP Government to ensure that Singapore remains resilient to rising sea levels and climate change. We need to keep our shores and people safe. Mean sea level around Singapore is projected to rise by up to 1m by 2100 (source). Singapore is especially vulnerable to sea level […]
National Wages Council recommends a 5.5% to 7.5% wage increment for lower-wage workers in new guidelines
TL;DR: Lower-wage workers earning up to S$2,200 a month should receive salary increments of 5.5% to 7.5% for the period from Dec1, 2022 to Nov 30, 2023. Amid an uneven recovery for business in different sectors, the National Wages Council (NWC) remains steadfast in fairly and sustainably raising the wages of workers to foster Singapore’s social and […]
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 […]
Has the PAP’s success produced a people who is difficult to govern and satisfy?
Many cities in the world – including cities larger than Singapore – are part of a much larger country. Singapore is not just a city, it is also a country. It is a city-state with little land and no natural resources. This is why the challenges that we face are much bigger and not to be […]
PM Lee: Opposition ‘missing in action’ when it comes to thorny issues like repeal of Section 377A
At the People’s Action Party’s (PAP) biennial conference on 6 November 2022, Prime Minister Lee Hsien Loong, who is also Secretary-General of the PAP, called out the opposition for ‘lying low’ on thorny issues, and that it should take a clear stand for issues especially if it aims to win more seats in Parliament and […]
There is no escaping the GST hike starting next year. Here’s how you can cope with rising costs.
Goods & Services Tax (GST) will proceed to increase from the current 7% to the proposed 8% from 1 Jan 2023 and subsequently to 9% from 1 Jan 2024. With the rise in GST, the cost of living goes up and workers bear the brunt, especially those from the lower to the middle-income group. Thankfully, […]
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 […]