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Thread: Pinky: 20% wage rise in 10 years

  1. #1
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    Default Pinky: 20% wage rise in 10 years

    I wonder if he is thinking about Sinkies or his Ministers when saying this.


    A WAGE increase of 20 per cent is possible in the next 10 years, even in unfortunate circumstances, said Prime Minister Lee Hsien Loong in a dialogue recently.

    "That is a very ambitious target for us to do because we are already at a very high level of development," he added.

    His comments were made last Thursday in a pre-Budget dialogue with labour and union leaders, and will be published in tomorrow's edition of NTUC This Week, a publication by the National Trades Union Congress.

    In 2010, the Government began efforts to raise real median wages by 30 per cent by 2020, to improve the living standard of the average Singaporean.

    To achieve this, productivity growth has to rise from 1 per cent a year to between 2 and 3 per cent. Mr Lee noted last Thursday that, over the last 10 years, Singapore's productivity improved by 20 per cent and wages rose by 11 per cent.

    But he said Singapore actually did better than that, as much of the improvements were made in the last five years, following a difficult period during the Sars crisis.

    He said Singapore has to improve its productivity in the next 10 years by over 20 per cent.

    If Singapore was "lucky" enough to achieve a 30 per cent productivity increase, real wages for the median worker may be pushed up by about 30 per cent as well, he said.

    "But if we are not lucky, we can get the wages up 20 per cent over the next 10 years, and that is something which is possible."

    The dialogue session was organised by the Ong Teng Cheong Labour Leadership Institute and held at the NTUC Auditorium. It was attended by about 450 people, including union leaders and Manpower Ministry representatives.

    Mr Lee added that Singapore has to rely less on foreign workers. In the last five years, about 150,000 foreign workers came into Singapore annually, he said.

    If this continues every 10 years, there would be one million more people here, he said. With a population of about five million now, the population could grow to six million 10 years later and seven million 20 years from today, he said.

    "I think we can squeeze a bit closer together but there is a limit to how much you can squeeze," said Mr Lee.

    This means Singapore has to manage its inflow of foreign workers and be less dependent on them, and the country has to work harder to upgrade its productivity, skills and capabilities.

    "That's what we must do if we are to grow over the next 10 years and beyond," said Mr Lee. "It's the only way we can grow in Singapore and improve the lives of our people."

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  2. #2
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    Default Re: Pinky: 20% wage rise in 10 years

    letz hope pay and pay will not still in power over the next 10 years.
    he is speaking machiam pay and pay will be in power over next 10 years.
    THE GOVT HAS SOLD US OUT CHEAPLY
    Sinkapore is a dumping ground
    Sinkaporeans are aboriginal

    对敌人仁慈就是对自己残忍
    婚姻是喜事但不一定是好事
    婚礼是看家长的成就,葬礼是看儿女的成就
    人生最大的赌注就是婚姻
    贫贱夫妻百事哀
    有钱就玩别人,没钱就被别人玩
    女人的风采来自男人的慷慨
    contented is use by poor for self deceive, self comfort
    money is the root of all evil
    the rich has choices, the poor left with no choice
    equivalent exchange

  3. #3
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    Default Re: Pinky: 20% wage rise in 10 years

    He doesn't even know what's going to happen in the next three years and he's playing fortune-teller?

    Also, all the wage increase in the world will not matter if the cost of living exceeds that wage increase.

    Lastly, what Pinky Loong never told you that a wage increase of 20% within the next 10 years is nothing to boast about.

    Why? COMPOUND INTEREST!

    Let's say you earn $2K per month. A 20% increase in 10 years means that after 10 years, you will have earned at least $2.4K, assuming it is still the same job.

    That works out to around 1.84% annual wage increment! Pathetic. Don't be fooled. He may not be lying, but he's assuming that you do not know your numbers and fall for his pleasant-sounding rhetoric.

    First year: $2000
    After 1 year: $2036.80
    After 2 years: $2074.28
    After 3 years: $2112.44
    After 4 years: $2151.31
    After 5 years: $2190.90
    After 6 years: $2231.21
    After 7 years: $2272.26
    After 8 years: $2314.07
    After 9 years: $2356.65
    After 10 years: $2400.01

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    Default Re: Pinky: 20% wage rise in 10 years

    10 years time... One plate of chicken rice will be $10 in a foodcourt! Things will be expensive so back to square 1...
    Life is about Payroll and Claims - $$$

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    Default Re: Pinky: 20% wage rise in 10 years

    hi there


    1. the womanly emperor building sand castles in the air again!
    2. what will be his worst-case scenario?

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    Default Re: Pinky: 20% wage rise in 10 years

    What me worry? The end of the world is already approaching, so why bother about 10 years from today, Any guarantee the PAP or himself still around?

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    Default Re: Pinky: 20% wage rise in 10 years

    What a joke! If our wages do not remain stagnant or become depressed further, it will be a fucking miracle!

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    Default Re: Pinky: 20% wage rise in 10 years

    Some of you seem to have comprehension problem. It's "Real Wage increase'. That means its income increase AFTER inflation. E.g. 2011 inflation is 5.5% to get a real income increase of 1% your increment needs to be at 6.5% hence even if chicken rice goes up to $10 in 10 years, your increase in income will more then offset the inflation

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    Default Re: Pinky: 20% wage rise in 10 years

    miw say one can believe? some of u are naive beyond comprehension. maybe just blind loyalty as a pap dog.
    Goh Meng Seng is the paid PAP mole (used to be free-of-charge) attacking WP in every thread.

    吴明盛 =無名声

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    Default Re: Pinky: 20% wage rise in 10 years

    Quote Originally Posted by ssrrvv11 View Post
    miw say one can believe? some of u are naive beyond comprehension. maybe just blind loyalty as a pap dog.
    U also seem to have comprehension issue. Can u please point out where I stated I believe in this article? I was clarifying the points stated in that article. There is a huge difference between understanding and believing
    Last edited by Char_Azn; 10-02-2012 at 09:38 AM.

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    Default Re: Pinky: 20% wage rise in 10 years

    Nahmah....come here and advertise cheebye loans....get people into trouble....

    How to zap him har? I never do that before cos I nice guy.



    Quote Originally Posted by Helena09 View Post
    It's nice to know about that but still with minimum wage staying low along with all other paychecks, everyone needs some assistance. It is impossible to pay for everything and then additional emergencies when your checks are being limited so much. Luckily, you can get a pay day loan to help when the emergencies come along. The payday advance will help you get through the situation. Find out more at: Payday loans
    Last edited by BuiKia; 18-07-2012 at 01:49 AM.

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    Default Re: Pinky: 20% wage rise in 10 years

    Maybe for himself and his cronies

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    Default Re: Pinky: 20% wage rise in 10 years

    Quote Originally Posted by BuiKia View Post
    I wonder if he is thinking about Sinkies or his Ministers when saying this.
    Ah Loong was thinking that was how much he had to give his two dumb sons as allowances until they can 'rightfully' sit in one of his many Ministry and take their place by his side! LOL

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    Default Re: Pinky: 20% wage rise in 10 years

    Quote Originally Posted by BuiKia View Post
    Nahmah....come here and advertise cheebye loans....get people into trouble....

    How to zap him har? I never do that before cos I nice guy.
    Bro, I already deleted the post. Can you remove the link from your quote? Thanks.
    Retired from Moderator's Duty

    Still active in stirring shit

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    Default Re: Pinky: 20% wage rise in 10 years

    Quote Originally Posted by Char_Azn View Post
    Some of you seem to have comprehension problem. It's "Real Wage increase'. That means its income increase AFTER inflation. E.g. 2011 inflation is 5.5% to get a real income increase of 1% your increment needs to be at 6.5% hence even if chicken rice goes up to $10 in 10 years, your increase in income will more then offset the inflation
    Hi moron

    So you felt that your income REALLY did increase more than to offset inflation, as you are a balls licker?

    Or is it that the ball licking has dried your tongue and numb your brains and blinded your eyes, that you cannot see most decent folks are NOT BALL LICKERS and do not feel, like you do, that their supposed increased income can handle the inflation?

    Maybe you should take over Zorro Lim's post! LOL

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    Default Re: Pinky: 20% wage rise in 10 years

    Quote Originally Posted by saratogas View Post
    10 years time... One plate of chicken rice will be $10 in a foodcourt! Things will be expensive so back to square 1...

    Import more FTs to work in the food court to lower costs la.

  17. #17
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    Default Re: Pinky: 20% wage rise in 10 years

    Wage increase? It means nothing if purchasing power does not rise in tandem.

    With all the loose credit sloshing around the island, combined with the low interest rates, inflation is not kept in check.

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    Default Re: Pinky: 20% wage rise in 10 years

    This is a drastic U-turn from earlier threats that "Singapore economy will go down if you increase your salary". So PAP feeling the pinch with pay cuts and want to get back their original salary?

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    Default Re: Pinky: 20% wage rise in 10 years

    Quote Originally Posted by laksaboy View Post
    Wage increase? It means nothing if purchasing power does not rise in tandem.

    With all the loose credit sloshing around the island, combined with the low interest rates, inflation is not kept in check.
    Then you hire more FTs to lower your business costs and increase productivity la.

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