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[h=2]Money spent on infrastructure for FTs can be better used elsewhere[/h]
March 4th, 2013 |
Author: Contributions
According to Khaw Boon Wan, and Lui Tuck Yew , HDB and LTA will build 700,000 new homes by 2030, and double our MRT network to support more foreign talent.
Assuming each HDB cost $300,000 to build (otherwise, HDB is profiteering), to build 700,000 HDB will cost $210 billion, plus the 60-100 billion dollar MRT network which will cost about $300 billion dollars by 2030. Added to that,there are the cost of new schools, hospitals and other services for new Foreign talent.
This amounts to $17 billion a year. Which is a lot of money. According to Tan Jee Say, The Foreign Talent will only account for 1% of our 3.5% GDP growth from now to 2020. In contrast, our National Productivity Fund is only $2 billion a year, and our Fertility Fund another $2 billion
The Pro Alien Party, if it truly cares about Singaporeans, needs to set its priorities right and spend the money instead on productivity and Fertility rate rather than build infrastructure for new FTs.
Instead of spending the money to build new infrastructure, $8 billion dollars of the money can be better invested to increase our national productivity fund by 5 fold to $10 billion. Companies can get incentives to upgrade their productivity and subsidies can be given out to ease the costs of restructuring and upgrading.
The fund will amount to $5,000 per worker, or 15% of average wages, or 5% of value added.
Alternatively , the money can be used to guarantee a minimum wage so that Singaporean can come and work in sectors shunned by them and we wont need to resort to foreign talent. $5 billion can be used to pay 200,000 Singaporean workers $25000 extra per year, raising their incomes to over $3000 a month.
By 2030, the work done by low skilled workers is expected to be replaced by robots. Additional funds from the NPF can be diverted to robot research, so that it can be done sooner rather than later.
The other $9 billion dollar can be used to complement our $2 billion fertility fund to raise our TFR.
The money can be partly used to compensate companies whose mothers take time off to care for their children, and award a allowance for the mothers who take time off to care for their children.
11 billion dollars is enough to provide a $50,000 a year allowance/compensation for companies for all 220,000 working mothers with kids under 7 years old, so that mothers can care for their children until they reach school.
Doing so will remove the need for mothers to remain working in order to support the household when they have a child, and compensate for the productivity loss by mothers who take part time leave ($50,000 amounts to 50% of the mean,value added per worker of $100,000, for half day off), so that companies will be willing to let go of working mothers.
.
Abel Tan
.
Assuming each HDB cost $300,000 to build (otherwise, HDB is profiteering), to build 700,000 HDB will cost $210 billion, plus the 60-100 billion dollar MRT network which will cost about $300 billion dollars by 2030. Added to that,there are the cost of new schools, hospitals and other services for new Foreign talent.
This amounts to $17 billion a year. Which is a lot of money. According to Tan Jee Say, The Foreign Talent will only account for 1% of our 3.5% GDP growth from now to 2020. In contrast, our National Productivity Fund is only $2 billion a year, and our Fertility Fund another $2 billion
The Pro Alien Party, if it truly cares about Singaporeans, needs to set its priorities right and spend the money instead on productivity and Fertility rate rather than build infrastructure for new FTs.
Instead of spending the money to build new infrastructure, $8 billion dollars of the money can be better invested to increase our national productivity fund by 5 fold to $10 billion. Companies can get incentives to upgrade their productivity and subsidies can be given out to ease the costs of restructuring and upgrading.
The fund will amount to $5,000 per worker, or 15% of average wages, or 5% of value added.
Alternatively , the money can be used to guarantee a minimum wage so that Singaporean can come and work in sectors shunned by them and we wont need to resort to foreign talent. $5 billion can be used to pay 200,000 Singaporean workers $25000 extra per year, raising their incomes to over $3000 a month.
By 2030, the work done by low skilled workers is expected to be replaced by robots. Additional funds from the NPF can be diverted to robot research, so that it can be done sooner rather than later.
The other $9 billion dollar can be used to complement our $2 billion fertility fund to raise our TFR.
The money can be partly used to compensate companies whose mothers take time off to care for their children, and award a allowance for the mothers who take time off to care for their children.
11 billion dollars is enough to provide a $50,000 a year allowance/compensation for companies for all 220,000 working mothers with kids under 7 years old, so that mothers can care for their children until they reach school.
Doing so will remove the need for mothers to remain working in order to support the household when they have a child, and compensate for the productivity loss by mothers who take part time leave ($50,000 amounts to 50% of the mean,value added per worker of $100,000, for half day off), so that companies will be willing to let go of working mothers.
.
Abel Tan
.
