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Archive for 25/10/2012

Supporting Singapore’s Low Income Group

Media news extracts


Professors, politicians, business people, and commoners; everyone has a word or two on the current situation of how to support the Lion City State’s L.I.G. (Low Income Group).

Many are still talking text book stuff like a pen & pencil exam. Most would point to some evasive reasons such as increasing productivity as top priority. But in reality, is that such a simple solution?
What happens if this “monster” called productivity for the low income jobs/trades just continue to sleep? Who’s fault is that and what happens to low income group under this potentially long period of inflation?
Nobody gives answer to this.

You just can’t fault those professors who are giving you all the text book answers. Such as, “if you don’t have this thus you can’t have that….”
That’s precisely what their students would answer to earn their marks…

Among the many of them, at least Professor Lim C Y sounds More Right(?). He plainly asks for minimum wage increase for the low income group for this few years when economic situation is tough. He’s being very frank and down to earth. He also made blunt comments about those who get “overly paid” salary at the top. Though this is debatable… Some would be ready to shoot that down by proclaiming “what’s wrong with that…”. Some argue that if don’t pay top salary the City State would not be able to compete for foreign talents.

By the way, current level of inflationary pressure is not created by the low income group! Always remember that. But like the rest, they are facing inflation at the front-line.

The L.I.G. issue is not quite straight forward. At the core, it squeezes the SMEs (Small & Medium Enterprises) particularly hard. One more unanswered question: Can the SMEs in Lion City attain progressive and sustainable productivity upgrade over the next 5 or 10 years?

Prof Lim pointed out that, Gini Coefficient for Singapore already raised to 0.473. An indication of further polarization in income.

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