National Solidarity Party, 14 Nov 2008
Singapore has been through numerous periods of ups and downs. Unfortunately this year, it is in the midst of economic uncertainty, despite official predictions of positive GDP growth. Globally, inflation in both food and fuel has affected the life of people everywhere. Singaporeans are no exception. They suffer the tension of seeing the diminishing value of their incomes and savings. Opportunities for local entrepreneurs are also lost daily, as the inflation rate seems to climb faster than their incomes.
Singaporeans also have to face the high competition for jobs, the increase in daily expenditure on public transport and basic necessities – with the installation of more ERP gantries and the increment of their rates at the same time, as well as the increased GST charges. Singapore has been successful in global markets, and in attracting foreign investments which have contributed to our economic growth. Most local properties have appreciated in value. It is also easier to make purchases on credit -- credit cards are comparatively easy to apply and use. But not everyone is benefiting. A recent MOM report estimated that only about 40% of all newly created jobs went the local workforce, many of whom got lower paid jobs.
Replacing Local Workers
The mass media reported that though the local market had a somewhat positive growth, most SMEs face a tremendous stress over the jump in operational costs coupled with declining business volume, as a result of fuel price hikes, increased space rentals, increased ERP rates, and even competition from our own GLCs. Most companies (even large foreign ones) have little option, but to trim their operational costs by passing the increased costs to the consumer, by retrenchment, by reducing workers’ pay, by adopting a flexible pay scheme, and by replacing local workers with lower paid foreign ones, as part of their survival strategy. Some even chose to close shop to avoid greater losses.
The National Solidarity Party (NSP) has with its limited resources, extended help to several low income groups with some assistance and contributions from certain NGOs. The NSP has also proposed to the Government, through the mass media, to consider the reduction or even total exemption of the GST charges on certain basic food items. It would also be a great help to local SMEs with the deduction or removal of tax on diesel, and the provision of subsidies on ERP charges. Employers should be encouraged to give preference to the local workforce. These policies would initiate keener competition, and better motivation for organizational growth. They would then contribute to the nation’s economic expansion. Such policies will attract more foreign investments, and at the same time moderate the jobs competition with our highly skilled workforce.
Many Poor Left Out
The PAP Government has promised to work for the continuous growth of our GDP, but has to be reminded of the consistent plight of the lower-income groups, many of whom have contributed to national development in their own ways. Still, many poor citizens have somehow been left out from the Government’s “public assistance” schemes. The people are more concerned with having steady jobs with steady pays, instead of those PA schemes, which are rigidly constructed and subjectively applied, albeit to discourage abuse but consequently rendered with little or no compassion.
Singaporeans face a consistently level of stress each day, with more and more concerns piling up. These have correspondingly made life in general less and less tolerable. If Singapore is to have a more equitable level of growth for both the nation and its people, the Government must inevitably implement more “people-orientated” policies to generate a widespread positive effect for all concerned.
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