Goodness same crap from th feller who claims $1000 can buy flat and support family and buy flat.
Few economists have doubts the pap policies cause this large inequalities This minister is either in denial or trying to mislead the people.
1. 'Large import of cheap labour caused stagnancy of wages. Eventually the wage share of GDP fell and % of profits as a share of GDP rose-
2. Refusal to implement minimum wages',wage restructuring to rein in excessive compensation of top executive and under payment of lower classes caused a third world wage structure to surface.
3. Implement regressive tax structures like increasing GST to cut corporate taxes and taxes of rich.
4. Reduce the existence of independent unions to nothing resulting loss of collective bargainjng power and bSic pdotection of workers who now can be exploited in hire and fire type companies.
5. Structural formation of GLC monopolies oligioplies that are extractive in naure causing SMEs to be strained by high costs of operations that result in these companies payng lower wages.
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By Robin Chan Political Correspondent
The gap between the rich and poor here is not a result of the Government's recent growth strategies; it is a problem Singapore has had since the 1980s.
It then worsened in the 1990s even as families saw their standards of living rise, said Deputy Prime Minister Tharman Shanmugaratnam yesterday as he set out "basic facts" of Singapore's inequality story.
Speaking at a ceremony where he was conferred an honorary fellowship by the Academy of Medicine, Mr Tharman said that inequality here stems from the fact that Singapore is a city-state and is made worse by a phenomenal growth in education levels over a single generation.
Noting that the proportion of people with only primary education has dived from 50 per cent to just 2 per cent in 30 years, he said: "What it means is that the older generation of workers, who had low skills and wages for most of their lives and who were part of the developing economy that Singapore was, now find themselves in a developed economy, where incomes of younger people are a world apart from what they grew up with.
Few economists have doubts the pap policies cause this large inequalities This minister is either in denial or trying to mislead the people.
1. 'Large import of cheap labour caused stagnancy of wages. Eventually the wage share of GDP fell and % of profits as a share of GDP rose-
2. Refusal to implement minimum wages',wage restructuring to rein in excessive compensation of top executive and under payment of lower classes caused a third world wage structure to surface.
3. Implement regressive tax structures like increasing GST to cut corporate taxes and taxes of rich.
4. Reduce the existence of independent unions to nothing resulting loss of collective bargainjng power and bSic pdotection of workers who now can be exploited in hire and fire type companies.
5. Structural formation of GLC monopolies oligioplies that are extractive in naure causing SMEs to be strained by high costs of operations that result in these companies payng lower wages.
-------------;------------
By Robin Chan Political Correspondent
The gap between the rich and poor here is not a result of the Government's recent growth strategies; it is a problem Singapore has had since the 1980s.
It then worsened in the 1990s even as families saw their standards of living rise, said Deputy Prime Minister Tharman Shanmugaratnam yesterday as he set out "basic facts" of Singapore's inequality story.
Speaking at a ceremony where he was conferred an honorary fellowship by the Academy of Medicine, Mr Tharman said that inequality here stems from the fact that Singapore is a city-state and is made worse by a phenomenal growth in education levels over a single generation.
Noting that the proportion of people with only primary education has dived from 50 per cent to just 2 per cent in 30 years, he said: "What it means is that the older generation of workers, who had low skills and wages for most of their lives and who were part of the developing economy that Singapore was, now find themselves in a developed economy, where incomes of younger people are a world apart from what they grew up with.
