In the last 4 years, the government has blamed inflation entirely on external factors, even though the most significant inflationary pressures have been in transport and accommodation. Both of these inflationary pressures the government has significant control over through COE levels and HDB prices.
Now add to that mix the privatisation of public goods. The outcome?
A demoralised, struggling population working among the longest hours in the world at incredibly poor productivity levels in what the Economist Intelligence Unit has recently described as the ninth most expensive city in the world, and constantly at the mercy of being replaced by more cost effective foreign workers. Full story
