Saturday 23 April - Is it prudent to link retirement savings to housing? Jobs and immigration debate warming up

Bread and Butter: - The Housing and CPF Conundrum

- Goh Meng Seng responds to Mah Bow Tan's comments on housing issues, argues that 1) public housing costs puts strain on saving sufficiently for retirement, adding that linking asset enhancement scheme to retirement savings is imprudent 2) Land Acquisition Act had been an act of raiding the wealth of citizens, and NSP party proposal merely aims to slow down accumulation of reserves, not to cause a deficit 3) market for new HDB flats will not crash as HDB has monopoly over its supply (Temasek Review)

- "Asset rich cash poor" - Asset enhancement is a flawed policy because on one hand it makes your flat more valuable and hence more expensive, on the other it drains cash from CPF savings which makes it difficult for citizens to afford retirement. (Mr Wang Says So)

Bread and Butter: - Jobs, wages and immigration

- Leong Sze Hian criticized Lee Hsien Loong's claim that foreign workers have helped create good jobs in Singapore, citing that the statistical group "Singaporeans" represents both Singapore citizens and PRs, The department of statistics is clearly able to break down the statistics representing citizens and PRs separately on several occasions, but yet the PM has chosen to use the amorphous statistical group "Singaporean" makes the initial claim largely suspect. Furthermore under current MOM policies, it is possible to hire 100% foreigners, a few examples like of S-pass, SG PRs, employment pass, interns from foreign universities. (The Online Citizen)

- Lim Swee Say opines that minimum wage will threaten jobs, reiterating PAP's stance that Workfare and upgrading is a better long term solution. He cites average security guard pay scale increasing from the "bottom 10%" to "above 20 percentile" of the workforce within the last 5 years. As a parting shot, he also stressed that if companies decide to move out of Singapore, the effects are irreversible and detrimental to local workers. (Today Online)

- Trade and Industry Minister Lim Hng Kiang takes aim on SDP candidate Tan Jee Say's proposal, stating that the Integrated Resorts have spillover effects to other parts of the economy, adding that the negative social ills of the IRs are far-fetched (Straits Times)

Manufacturing consent

- Sembawang GRC gets S$500m upgrading plan to upgrade homes, parks and cycling tracks (Straits Times)

Mudslinging

- Ng Eng Hen to voters: Vote opposition and you may get weaker government. A weak government will not deliver better healthcare, transportation, housing and it is against voter interests. (ST Online)