PROFESSIONAL

SERVICES

Table of Contents

Executive summary ........................................................... 1

Introduction ........................................................................ 2

A. Effects of high cost of living ...................................... 3

1. Income inequality ................................. 3

2. Health ..................................................... 4

3. Population .............................................. 5

B. Broken promises .......................................................... 6

1. Water ...................................................... 7

2. Carparks ................................................. 7

3. Electronic Road Pricing (ERP) ............. 7

4. Service & conservancy charges (S&CC) 8

5. Gas .......................................................... 8

6. Electricity ................................................ 9

7. Public transport ..................................... 9

8. Kindergartens and infant care centres 9

9. Universities ............................................10

10. Polytechnics and Institutes of Technical

Education (ITEs) ...........................................10

11. Careshield Life .................................10

12. Carbon ..............................................10

13. Diesel .................................................11

14. Digital services .................................11

15. Sugar .................................................11

16. Goods and services tax (GST) .......11

C. Collecting more and more ..................................... 12

D. Profligate spending .................................................. 13

E. Real lives, real pain .................................................. 14

F. Out-of-touch ministers ............................................. 14

G. SDP's proposals to keep the cost of living

affordable ........................................................................ 17

1. Cut ministerial pay to fund assistance schemes

for the poor ..................................................17

2. Raise income tax rate for the top 1 percent

18

3. Ensure revenue neutral budgets ......19

4. Scrap GST for essential items.............20

5. Enact minimum wage law ................20

6. Reinstate estate duty .........................20

7. Reduce healthcare costs ..................21

8. Lower HDB prices ................................22

9. Return CPF savings in full ...................22

10. Stop profligate public spending ...23

H. Conclusion ................................................................. 23

References ....................................................................... 24

Copyright © 2019 Singapore Democratic Party. All rights reserved

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EXECUTIVE SUMMARY

As one of the most, if not the most, expensive cities in the world, the rising cost of

living in Singapore is a central concern for the people.

We were only the 97th most expensive place in 1997 according to the Economist

Intelligence Unit's global survey. In a span of less that 20 years, we rose to become

the most expensive city in the world by 2014 and we have claimed that dubious

honour for five years straight since.

This relentless climb to the summit did not occur by happenstance. It was

painstakingly planned for by the PAP mainly through increases in prices and fees.

The last few years, especially after the 2015 general elections, were no exception.

This paper focuses on this period for two reasons: One PM Lee Hsien Loong

acknowledged the problems Singaporeans faced over rising living costs and

promised to work with us to solve them.

The promise, however, proved to be just slick campaign rhetoric because in the

years that followed, Lee increased taxes and prices on a wide range of items as

detailed in this paper.

As a result, the government collected a total of nearly $20 billion in budget

surpluses over a period of three years (2016-2018).

What is particularly difficult to accept is that DPM Tharman Shanmugaratnam had

declared in his Budget 2015 speech that all the increased spending was sufficiently

funded until 2020.

It seems superfluous to say that the price hikes hurt Singaporeans especially those in

the working- and middle-income groups. Already, Singaporeans, young and old,

have little savings to fall back on. Any emergency that befalls them would put them

in a very precarious situation financially.

Is it any wonder then that more than half of Singaporeans indicate that money is

the biggest source of stress in their lives?

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In the meanwhile, the government continues to choke up huge amounts of

reserves and pays the ministers kingly salaries. Such an extractive and exploitative

form of governance is unsustainable.

The SDP proposes a set of comprehensive yet simple and viable measures to

alleviate the situation. Our aim is to level up society and protect our weakest and

poorest from the PAP's avarice and uncaring attitude.

Our alternative ideas are guided by our belief that it is the people who should take

the lead in driving the economy (as opposed to the current state-run affair through

Temasek-owned companies) and who should have the predominant voice in how

their wages are taxed and CPF savings used.

Under the present autocratic system, however, the people have little say in how

their lives are run. Decisions on financial matters, especially regarding taxes, fees

and CPF savings, are dictated by the elite few in the PAP.

With this alternative policy on the cost of living, the SDP aims to change such a

political arrangement and return the power to the people and, in the process,

make living in this country more affordable and less stressful. In other words, we

want a better life for all.

INTRODUCTION

In 2001, Singapore was ranked by the Economist Intelligence Unit as only the 97th

most expensive city in the world. In 2011, after a short span of just over 10 years, we

shot up to become the 6th most expensive city and, by 2014, we claimed the

number one spot and has remained there since.

This rapid escalation of the cost of living has taken a significant toll on

Singaporeans. For instance, according to a recent survey, 85 percent of

Singaporeans indicated that they don't have enough savings for their retirement.1

Younger folk are no better off – 80 percent of those between 20-35 don't have

savings.2 Another study found that 6 in 10 Singaporeans don't feel that they can

have a comfortable retirement.3 Those in between, the working middle-class also

have it bad – half of our households live from paycheck to paycheck.4 They are

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one major bill away from financial ruin. This can come in any unforeseen,

unpredictable circumstance like an accident, an illness.

It is, therefore, unsurprising that money remains the biggest source of stress for

Singaporeans. According to an international survey which included polling 1,500

Singaporeans, more than half (53 percent) cited money as the top source of stress.

This concern is particularly significant among millennials (63 per cent).

Among older Singaporeans, 47 percent said they are “behind where they thought

they should be in terms of financial health.”5 Government statistics reveal that the

number of citizens over 65 has doubled in the years since 2000. There are about

440,000 in this age group out of a population of about 5.5 million. This number is set

to reach nearly 1 million by 2030 – almost a fifth of today’s total. This trend has

created many households in which two working adults have to bring up their

children as well as provide for their retired parents. Needless to say, this places a

huge strain on the family unit.6

A. EFFECTS OF HIGH COST OF LIVING

Not only does an unduly high cost of living bring financial burden to bear on

consumers, it also adversely affects society in other ways. It causes income

inequality to widen, affects the health of workers and the elderly and has a

detrimental effect on population growth. We examine each of these issues below.

1. Income inequality Increases in prices on everyday goods and services impacts upon the working-

and middle-classes more severely than those higher on the economic ladder.

The Goods and Services Tax (GST), for example, is a regressive tax. The poor pay

more, as a proportion of their income, than the rich. Yet, the PAP has

announced that it will increase the GST across the board to 9 percent from the

current 7 percent after the next general elections. This will exacerbate an

already highly unequal society in terms of wealth and income. With a Gini

coefficient of 0.417 (before taxes and transfers) in 2017,7 Singapore already has

one of the biggest income divides in the developed world.

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As explained in our policy paper A new economic vision: Towards innovation,

equal opportunity, and compassion, a wide income gap creates price

distortions. If the divide becomes too great too rapidly and the rich get too rich

too quickly, the demand for goods and products also increases dramatically.

This was demonstrated in the unprecedented inflation in 2007/08 where

commodity prices such as that of rice and other basic necessities escalated with

the burden of escalating prices falling on the lower-income groups.

Income inequality, itself, also negatively affects the public in the following ways:

The Economy. The International Monetary Fund found that income inequality

threatens, not supports, economic growth. The study observed that, “Countries

may find that improving equality may also improve efficiency, understood as

more sustainable long-run growth.”8

Health and health care. For many Singaporeans, medical treatment remains

unaffordable. Studies show that lower-income groups are deterred from seeking

medical care because of the high cost of treatment. (See section below.)

Race relations. Income inequality does not affect the ethnic groups uniformly.

The Malay community in Singapore bears the brunt of the problem. Household

income is lowest among the Malays. The lag in the Malay community’s

socioeconomic progress constitutes an unhealthy obstacle towards improving

relations between Malays and other ethnic groups in Singapore.

(The effects of a large wealth disparity are discussed in greater detail in our

economic policy A new economic vision: Towards innovation, equal

opportunity, and compassion.)

2. Health It is likely that much of the financial pressure from the high cost of living manifests

itself in health problems among Singaporeans:

• 60 percent of Singaporean workers say they feel mentally exhausted due to

stress and depression.9

• Psychiatrists reveal that up to 90 percent of their patients are suffering from

mental health issues caused by stress from work.10

• Singaporeans work the most hours in the world.11

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• Singaporean workers are the least happy in Asia.12

• In the Happy Planet Index, we poll a dismal 90th position out of 151

countries.13

The situation hits the elderly especially hard:

• The elderly are pressured to continue working after retirement; the number

of elderly Singaporean men working is at a record high.14 Many of them

work in menial jobs earning less than $1,000 a month.15

• The poverty rate among this group of Singaporeans more than tripled from

13 per cent in 1995 to 41 per cent in 2011.16

• In 2017, a record number of elderly Singaporeans committed suicide. The

Samaritans of Singapore, an organisation that works to prevent suicides,

commented: “It is very worrying that many elderly are turning to suicide as

the only choice to end their pain and struggles, when they should be

enjoying the lustre of their golden years.”17

3. Population The year 2018 marks the point where, for the first time in our history, the

proportion of folks 65 years and older matches that of those 15 and younger.

From here on, if nothing changes, the slice of the elderly in the population will,

by 2030, balloon to twice that of younger Singaporeans. Prime Minister Lee Hsien

Loong says that such an aging demographic will bring about “profound

problems”.18 Some analysts describe the situation as a financial and economic

“ticking time bomb”.19

So how did we get ourselves into such predicament? One main factor is, of

course, the low birth-rate. Our Total Fertility Rate is 1.16 births per woman of child-

bearing age. This is among the lowest rates in the world (see chart).

But why are younger couples not wanting to have more children? One of the

reasons is the high cost of living. A survey found that 50 percent of young

couples cited finances as the main reason for not having children. The study

reported that “with the costs of childcare and infant care at a premium, more

couples are thinking twice about having children.”20 Another survey also showed

that the main cause of the low fertility rate in Singapore is the cost of raising a

child, concluding that the “current generation may be unwilling to have

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children because of the costs required in rearing a child and the potential

impact upon their individual aspirations.”21 News channel CNBC reported: “Dual-

income families are the norm in the pricey city-state and the lack of time for

family is frequently cited as a significant factor influencing couples’ decisions on

how many children to have, if they have any at all.”22

This problem is compounded by a high emigration rate. An average of 1,000

Singaporeans renounced their citizenship each year between 2000 and 2010. A

2012 survey found that 56 percent of Singaporeans agreed or strongly agreed

that, “given a choice, I would like to migrate”23 One of the reasons for

Singaporeans wanting to emigrate was the dissatisfaction with the stress, pace

of life and cost of living in the country.24

B. BROKEN PROMISES

Given the problems cited in the preceding section, it seems logical that the

government would try to keep the cost of living at an affordable level. In fact, this

was what Lee Hsien Loong promised the voting public: that the PAP would work to

make living expenses lighter. He said at a rally during the general elections in 2015:

Total Fertility Rate (TFR) Per Female in Singapore, 1965 – 2015

Data Source: Statistic Singapore.

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“That's why we work with you to solve problems like the cost of living, how can we

make life better, not quite burden (sic), lighter.”25

But the promise was promptly broken. After the elections, the government

increased prices and fees for a slew of items:

1. Water In 2017, the government announced that water prices would go up 30 percent –

15 percent in July 2017 and another 15 percent in 2018.26 For the average

household living in an HDB flat, means forking out roughly $9 to S$15 more a

month. Three- to five-room flats currently pay about $26 to S$49 a month for

water. PAP MP and Chairperson, Environment and Water Resources, Lee Bee

Wah, said that the increase of the water price, is “just to bring up the awareness

of the importance of water.”27

2. Carparks The HDB and URA raised carpark charges in December 2016 citing rising costs of

“building, operating and managing carparks”. Short-term parking charges for

public carparks outside the Restricted Zone/Designated Area (RZ/DA) were

raised by $0.10 to $0.60 per half-hour. Charges within the RZ/DA areas increased

by $0.20 to $1.20 per half-hour.28

3. Electronic Road Pricing (ERP) Prices of ERP gantries are reviewed from time to time with charges increasing

and decreasing at various times at different gantries depending on traffic flow.

Information regarding revenue collected by the LTA is hard to find, but the

annual collection from the toll is estimated to be around $150 million. With new

gantries added through the years – three new ones were erected in 201729 – one

can only surmise that the collection has continued to increase in recent years

(see chart).

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4. Service & conservancy charges (S&CC)

PAP-run town councils raised S&CC twice: once in June 2017 and again in June

2018. The amount of S&CC increase is dependent on flat type. In total, the hikes

ranged from $1 for smaller flats to $17 for bigger ones. Most households paid

about $19.50 to S$88 per month for S&CC before the increase.

S&CC for shops and offices also went up. Commercial property owners and

tenants paid 14 to 48 cents more per square metre per month. Likewise, charges

for market and food stalls were raised. They now pay $5.20 to $40.50 more a

month.30

5. Gas

Gas tariffs went up four times in 2018. From February to April, City Gas increased

the price by 4.19 percent, from 17.68 cents per kilowatt hour (kwh) to 18.42 cents

per kwh. It increased tariffs again from May to July 2018 by 0.6 percent, from

August to October by 3.78 percent,31 and finally by 2.29 percent from November

to December.32

Number of ERP Gantries from 1997 – 2017

Source: LTA (https://data.gov.sg/dataset/number-of-lta-road-facilities)

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6. Electricity Electricity tariffs also saw a steady increase in 2018. As can be seen from the

chart below, electricity prices have seen an overall increase of 19 percent since

the last GE in 2015 to the 2018 (21.77 cents/kWh to 25.82 cents/kWh after GST).

7. Public transport The Public Transport Council raised bus and train fares by 4.3 percent in

December 2018, citing “rising costs”. Adults using travel cards will pay an extra of

six cents per journey. Single trip tickets for trains and adult cash fares for buses will

rise by 10 cents.33

8. Kindergartens and infant care centres The PAP Community Foundation raised its fees by up to 5 percent for its

childcare and infant care programmes, and up to $20 for kindergarten classes.

My First Skool run by the NTUC increased its fees by between $5 and $20 for

infant care and between $6 and $33 for childcare. These price hikes took effect

from January 2018.34

Electricity Tariffs 2015

Data Source: Statistic Singapore.

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9. Universities Universities in Singapore raised their tuition fees in 2018. Fees for the new intake of

Singapore students went up by $50 a year (0.4 percent to 0.6 percent) for the

National University of Singapore, Nanyang Technological University, Singapore

Management University and Singapore University of Social Sciences. The

Singapore University of Technology and Design increased fees by $150 (1

percent). University fees have gone up every year since 2010 with the hikes

ranging from 0.6 percent to 8 percent for undergraduate students.35

10. Polytechnics and Institutes of Technical

Education (ITEs) The Ministry of Education also raised fees for polytechnic and ITE students who

will have to pay higher school fees. The $100-increase for the Ngee Ann,

Republic, Singapore, Temasek and Nanyang Polytechnics starts from the

academic year of 2019. ITE fees for full-time Nitec courses went up by $20 to

$426.36

11. Careshield Life The government will introduce Careshield Life in 2020 where Singaporeans 30-

years old and above will have to pay premiums for a disability insurance

scheme. This is despite the government collecting $2.6 billion in another

insurance programme called Eldershield between 2002 and 2015 but only

paying out $100 million in claims.37 That's a loss ratio of less than 10% which is

unheard of in the private insurance industry, let alone in a state-run program.

12. Carbon The PAP imposed a carbon tax in 2019 on businesses that emit 25,000 or more

tonnes of greenhouse gases annually. The move is to reduce greenhouse gas

emissions. The government decided that the tax will start at $5 per tonne of

emissions from 2019 to 2023 before gradually being increased to between S$10

and S$15 per tonne by 2030.38

Experts say that while the tax does not apply directly to households, there will be

a trickle-down effect on consumers power providers pass on the cost of the tax.

The National Climate Change Secretariat estimates that the tax translates to an

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increase of $1.70 to $3.30 per month in electricity tariffs for the average

household living in a four-room flat.39

13. Diesel

The tax on diesel was suddenly raised by 10 cents per litre to 20 cents per litre in

February 2019. The annual special tax on diesel taxis was, however, reduced by

$850. The hike will affect taxi-drivers the most, some estimating that running costs

take away earnings by $4 to $5 a day and the rebate taxi firms will pass on to

drivers will not be sufficient. Driver Henry Tay said: “You give me a deep cut, and

then pass me some candy for the pain.”40

14. Digital services

The PAP will impose the GST on businesses providing digital services, such as the

streaming of entertainment content, from 1 January 2020. Experts say that the

government is looking at ways to tax the digital economy and that firms that are

affected would likely pass on the tax to consumers.41

15. Sugar

The PAP is proposing to introduce a tax on sugar. The Ministry of Health has

begun consultations with the public to explore how the tax can be

implemented. The idea was mooted in 2018.42

16. Goods and services tax (GST)

The GST was introduced in Singapore on 1 April 1994 at the rate of 3 percent. It

was increased to 4 percent in January 2003 and then to 5 percent one year

later. In July 2007, the GST was further raised to 7 percent. The PAP has

announced that it will increase the GST to 9 percent between 2021 and 2025.43

On top of all this, Singaporeans are increasingly feeling the weight of rising

interest rates which are determined by the Singapore Interbank Offered Rate or

SIBOR. SIBOR is pegged to interest rates in the US and any movement in lending

rates in America will affect mortgage loan rates here. In the last decade, interest

rates have been kept very low at 1 percent. Over the past year, however, these

rates have begun to rise to close to 3 percent presently. Those who have been

taking loans for housing or business are now facing the consequences of rising

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interest rates. Not only is the PAP not helping to ease the financial burden of

Singaporeans, it is adding to our woes by raising taxes and prices of all manner

of goods and services.

C. COLLECTING MORE AND MORE

Prior to the 2015 elections, Deputy Prime Minister Tharman Shanmugaratnam had

assured Singaporeans that the government had enough funds for increased

spending until 2020. He said that the “increased spending planned for the rest of

this decade is sufficiently provided for by measures that the Government had

already taken.”44

If that is the case, then why did the government impose all the tax and fee

increases mentioned above? These price hikes resulted in the government

collecting in 2016 a surplus of $6.12 billion, in 2017 $10.86 billion and 2018 $2.12

billion. In other words, it amassed a total of $19.1 billion in budget surplus in the

three years since the last GE.45

This is against the backdrop of an already bloated reserves – some experts estimate

that there could be as much as a trillion dollars in state coffers. Common sense asks:

Is there a need to raise the GST and other fees when you already collect so much

more than you need?

The habit of increasing fees and prices while registering huge surpluses is also

evident in the universities. Tuition fees are increased despite the NUS and NTU

enjoying huge financial reserves of more than $3 billion each.46

Perhaps, the most obvious example of the government profiting at the expense of

the people comes from the increase of electricity rates. The SP Group, wholly

owned by Temasek Holdings, has been registering a post-tax profit of almost $1

billion a year from 2005 to 2017.47

What's more, when the electricity market was opened to private retailers, rates

offered by the retailers were 20 to 30 percent lower than that of the SP Group. This

led to a member of the public writing to the Straits Times pointing out the following:

Given that electricity retailers are looking to make a profit, have spent

a significant amount on marketing costs and are still able to offer

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consumers electricity rates that are a good 20 to 30 per cent lower

than SP Group's, why doesn't SP Group just offer consumers these lower

rates in the first place?48

D. PROFLIGATE SPENDING

When there is so much surplus revenue, the tendency is to be profligate in public

spending. This is why the government could spend, according to the Auditor-

General's Office, $880,000 for a rubbish bin centre and $500,000 for a computer

system that couldn't be integrated into an existing one. It also, among other lapses,

overpaid volunteer special constabulary officers by nearly $3 million. The Auditor-

General's 2016 Report said that PAP Government lacked “principles of good

governance and financial controls” which resulted in a large number of instances

where there was a “breakdown in the controls.”49

The Online Citizen reported that the Chua Chu Kang Town Council was installing

video screens in more than 1,600 HDB lifts and lift lobbies. The idea was to “improve

communication with residents in the area.” The move raised eyebrows and led

many to question the prudence of such an expenditure.50

The government will spend millions of dollars replacing bus-stop seats. The

expensive benches will each cost taxpayers $1,500 raising criticism from the

public.51

In 2015 and 2016, the PAP spent $40 million for a National Day parade,52 overspent

the Youth Olympic Games by $300 million in 2010,53 and lavished the People's

Association with $1 billion to carry out its political work.54

In an interview on Channel News Asia on Budget 2019, Finance Minister and future

prime minister Heng Swee Keat addressed the surplus the government collect in

recent years. He said: “It doesn’t mean that ‘Wow, we have this surplus so therefore

let’s splurge it tomorrow’.”55 Of course not. But it does mean that the PAP should

stop increasing prices and fees especially when, by its own admission, it already has

enough for its planned expenditure. The surpluses of our government do not come

from royalties from natural resources but from the taxes paid by the people.

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The best evidence that such extravagant spending of public monies was captured,

inadvertently perhaps, by Transport Minister Khaw Boon Wan when he criticised the

construction of the ailing Bukit Panjang Light Rail Transit (LRT) system, as an

“afterthought” that was built under “political pressure”.56

E. REAL LIVES, REAL PAIN

In contrast, our elderly and poor have to sleep at void-decks and 24-hr

MacDonald’s outlets. As mentioned above, many take their own lives out of

desperation and loneliness. An 69-year-old lady said that suicide is often discussed

by those around her age: “I had a neighbour who...told me she did not have

anyone left and saw little point in living when she did not even have enough

money for food.”57 A 72-year old woman who had her right leg amputated

because of diabetes has to continue to work by clearing dishes and cleaning

tables. When told that she could get help, the elderly lady replied: “I applied for

help after my amputation – nothing.” She had to make 10 applications to get the

flat she now lives in.58

Although persons aged 60 and above account for just 10 percent of Singapore's

population, the number of persons in this age group who committed suicide in 2017

was more than one-third of the total number (129 out of the 361 cases). Many

believe that many other such cases are unaccounted for. Among the causes for

the high suicide rate are, according to several of the victims’ families, accumulated

debt, medical fees or living expenses.59 For the elderly, retiring has become but a

dream. Reuters reports that “working has become the norm for the elderly in

Singapore where the employment rate for people over 65 have jumped over 15% in

the past decade.”60

Japanese news outlet, NHK, produced a video documenting poverty in Singapore.

It reported that “hidden poverty is a big issue for Singapore.” Willing Hearts, a local

organisation, prepare 6,000 meals a day for the poor.61

F. OUT-OF-TOUCH MINISTERS

An incident in 2018 revealed the arrogance of PAP ministers and how out of touch

they were with the people's angst regarding the high cost of living and the

privileged position of ministers. During a meeting former prime minister Goh Chok

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Tong had with grassroots members, participant Abdul Aziz appealed to the

government to help the elderly poor by cutting 10 percent of ministers' salaries and

using the money to help the older generation. He said:

I am 70-years old, so I am really concerned about issues that are about

the elderly. Unfortunately, I would say that the bad picture which has

been painted is that the elderly have been forced to work, cleaning

toilets, serving tables, just to survive. (He was referring to ministers saying

that the elderly work because the wanted to exercise.)

Perhaps this is the exception rather than the whole. I think not many

people will believe you if you say that elderly work because they want

to mix, because they want to do exercise. Perhaps they work because

they need to work.

So, in this case, may I just suggest that perhaps can we have some sort

of an elderly pension fund, for the elderly? We will have an appropriate

means test and all that, to make sure it is not being abused.

And Mayor will ask me how do we fund this fund? Perhaps, maybe can

I say we cut a bit on the defence, one F-15 maybe can pay for the

whole fund? Or perhaps even the Ministers with the million-dollar

salaries, can we perhaps cut by 10 per cent in order to fund this fund?

These are just my suggestions. Thank you very much.

Abdul was practically begging the government to help the poor and the elderly.

But his remarks were met with an angry Goh Chok Tong: “Who is going to clean the

table for you? Students won’t do it. Shall we have foreign workers to clean the

tables?”

According to Goh's reasoning, just because students won't clean tables and we

shouldn't bring in more foreigners, we should make our elderly do such

backbreaking jobs?

Goh also addressed the issue of cutting ministerial salaries to start a fund for the

elderly poor saying that ministers are already hard to attract because of the low

pay. This is despite cabinet salaries being the highest in the world by far.

Goh cited the example of Minister of State Edwin Tong. When Lee Hsien Loong

approached Tong to be a minister, Tong consulted Goh who related the episode:

“He came to see me. He said, at this stage of his life, he has got a house, he has got

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a mother-in-law to support, a father-in-law to support, his own parents and so on,

what should he do?”

As a Minister of State, Tong is paid an annual salary of $500,000. If he cannot

support his parents, in-laws and children on a salary in excess of $40,000 a month,

how does he expect ordinary Singaporeans who earn one-tenth of that to do it?

On a separate but related matter, why do Tong's parents and in-laws not have the

CPF savings to support their own retirement? Why do Singapore's retirees, who

having worked all their lives, find that they cannot support themselves in their

retirement and have to rely on their children? This is a serious indictment of our

social security system put in place by 50 years of uninterrupted PAP rule.

The people, especially the elderly, are hurting and having a hard time getting by.

But when they voice out their pain, like Abdul Aziz did, they are chided for not

paying millionaire ministers enough.

Goh was especially angry at Abdul for having the temerity to suggest that Ministers'

salaries be cut to help fund the poor. “I am telling you,” he scolded, “the Ministers

are not paid enough, and down the road, we are going to get a problem with

getting people to join the government, because civil servants now earn more than

Ministers.” And if we don't pay them what them demand then, Goh insists, we “are

going to end up with very, very mediocre people, who can’t even earn a million

dollars outside to be our Minister.”

Goh is not the only one with such thinking. Ng Eng Hen, the Minister for Defence,

once lectured the people. “I will tell you squarely in the face that you are getting a

bargain for the ministers you get.”

Lee Hsien Loong echoed this sentiment. “Singapore has to maintain a high quality

of government,” he said, “otherwise we are going to go back down and we are

going to be a mediocre country.”

In 2015, a young hawker selling fishball noodles, complained about the setting of

ceiling prices for hawker food at NTUC-run stalls. He said that it was unfair to cap

prices as basic ingredients were expensive. “How can we expect hawkers to make

a decent living?” he asked in a FB post. The then-environment minister Vivian

Balakrishnan responded that rental rates of hawker stalls were low. He ignored other

costs such as utilities, transportation cost and staff salaries. Balakrishnan's response

demonstrates a lack of empathy for the difficulties that ordinary Singaporeans face.

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17

In 2007, for example, when PAP MP Lily Neo pointed out that meals at hawker

centres were too expensive for the poor, Balakrishnan haughtily replied: “How

much do you want? Do you want three meals in a hawker centre, food court or

restaurant?”

Tan Chuan-Jin, when he was Minister for Social and Family Development, mused

that some of our elderly poor collected cardboard because they wanted to

“exercise”.

To top it off, Lee Hsien Loong said that Singapore needed “natural aristocrats”

without which society would fail. On another occasion, he quipped that it was “not

fun” to be poor.

All these are indicative of the mindset of PAP ministers who, with their astronomical

salaries, have become out of touch with – and even callous to – the everyday

problems that ordinary Singaporeans face.

G. SDP'S PROPOSALS TO KEEP THE COST OF

LIVING AFFORDABLE

Given the many problems caused by the high cost of living in Singapore, the SDP

proposes the following measures to keep living expenses affordable for

Singaporeans.

1. Cut ministerial pay to fund assistance

schemes for the poor As suggested by Abdul Aziz, the SDP proposes that ministerial salaries be

reduced with the savings channelled to fund a scheme to provide financial

support for the poorest of our poor. According to the formula for ministers' pay

spelt out in our plan (see Ethical salaries for a public-centred government), the

Prime Minister's salary would be substantially reduced from the current $2.2

million a year to about $0.67 million a year. Salaries of other cabinet ministers

would be proportionally adjusted with the average annual salary for a full

minister approximately $0.5 million (down from $1.2 million currently). The total

savings from the reduction is estimated to be about $10 million to $12 million a

year.

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PM Lee said in the 2015 GE: “Let us be prepared to buckle, work even sacrifice.”

Our ministers must set the example and be willing to sacrifice for the greater

good. To be sure, they will continue to live affluent lives after the salary

reduction. Our nation's leaders must lead by example, not mere exhortations.

Otherwise, they will lose even more of their fast-diminishing moral authority and it

would be difficult to govern effectively without the people's respect and trust.

The amount deducted from the ministers' salaries will go towards providing seed

funding for the SDP-proposed Family Credit Fund. This Fund will top up to $2,300

the income of all households of two or more persons that have at least one

member of the household working full-time and whose monthly disposable

income falls below $2,000. The initiative will replace all subsidies currently in

place and will be phased out once a national minimum wage is legislated.

In addition, senior citizens over 65 years of age will have free bus and MRT rides

during off-peak periods and 50 percent concessions during peak periods. The

discounted rates will incentivise elderly people to get out of the house and be

active rather than stay cooped up in the house. This will help to improve their

physical as well as mental conditions. Special taxi services should be introduced

which will provide free transportation to the elderly (over 80 years old) and

physically disabled persons for the purposes of travel for essential medical

consultation.

Other revenue measures such as increasing the top personal income and

corporate tax brackets and estate duty tax (see below) will also be introduced

to support the Family Credit Fund and other measures to assist low-income

families and elderly poor.

2. Raise income tax rate for the top 1 percent A survey conducted by Oxfam International ranked Singapore among the

bottom 10 countries (149th out of the 157) globally on tackling inequality. The

organisation pointed out that Singapore fared poorly because “the country's

spending on education, health and social protection combined is 'well below'

countries such as South Korea and Thailand. Oxfam also looked at the rate of

progressive taxation and cautioned that Singapore under-taxes wealthy

individuals and corporations.62

The current tax rate for individuals in Singapore is capped at 22 percent. In 2002,

Singapore’s highest personal income tax rate was 28 percent in 2002. It was cut

to 20 percent in 2007. This rate has allowed the wealthiest in the country to get

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richer despite the fact that those earning below $20,000 per annum are not

taxed on their income. In 2017, the government raised income tax rates by 1

percentage point for the highest 5 percent of income earners ($160,000 per

month). Those earning $320,000 a month will have their marginal tax rate for

additional income increased by 2 percentage points to 22 per cent.63

The SDP proposes that the tax bracket for the top 1 percent earners be brought

back up to 28 percent. This figure is still well below the level of advanced

economies which are typically in the 30-40 percent range. Such a rate before it

was reduced did not hamper economic expansion as GDP growth at that time

registered robust gains. Experts estimate that raising the top marginal income tax

rate by 1 percentage point could result in the government’s tax revenue

increasing by approximately $300 million.64 The additional revenue will go a long

way to provide further financial relief for low-income families.

3. Ensure revenue neutral budgets Rather than register huge surpluses every year, the government should collect in

taxes only the amount that it needs. If it says, as Tharman did in 2015, that the

government has all its spending needs taken care of for the rest of the decade,

then it should not raise taxes, fees and other charges during this period.

Selected Countries by Personal Income Tax Rate

as of December 2018

Source: Trading Economics (https://tradingeconomics.com/country-list/personal-income-tax-

rate)

0%

10%

20%

30%

40%

50%

60%

70%

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If there are legitimate reasons to raise prices on certain items such as imposing

the carbon tax to reduce greenhouse gas emissions, the government must

ensure that such a tax does not add to the financial burden of the average

Singaporean. This can be done, in this instance, by adjusting downward the

electricity tariff to offset for consumers the expected increase in costs for power

production companies. In other words, the government must ensure a revenue

neutral taxation regimen.

4. Scrap GST for essential items Basic food items as well as other basic necessities such as medical treatment

and school supplies should not be subject to the GST. This is to protect poorer

households from regressive taxation. To offset the reduction in revenue, the GST

rate for luxury items should be increased to 10 percent or more. Presently, a poor

family buying medicine or school textbooks is taxed at the same rate as a

wealthy one buying a branded handbag worth thousands of dollars.

5. Enact minimum wage law Legislation of minimum wage ensures that low-income workers are not exploited

and that economic growth occurs in a fair and sustainable manner. A wage

structure that does not strike an equitable balance between the lowest paid

workers and the cost of living is detrimental to long-term economic growth.

Minimum wage will also help to reduce income inequality as well as reduce the

demand for foreign workers. This topic is discussed in detail in our paper on the

economy A new economic vision: Towards innovation, equal opportunity, and

compassion.

6. Reinstate estate duty The PAP abolished the estate duty in 2008. The SDP proposes that the tax be

brought back with the exemption threshold of $20 million both for citizens and

non-citizens. In other words, only properties worth $20 million and more passed

down as inheritances will be taxed. The SDP recommends a 30 percent estate

duty tax. The revenue from such a tax can be used to fund welfare programmes

for the needy.

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Top ten estate duty taxes in the OECD

Source: Tax Foundation (https://taxfoundation.org/estate-and-

inheritance-taxes-around-world/)

Even PAP MPs are now calling for wealth and inheritance taxes to be reinstated.

Parliamentarian Cheryl Chan said that such taxes could be imposed in future on

ultra-high net worth individuals (top 1 or 2 percent of the richest in society),

explaining: “The top and middle tiers of the economy, while they have more

opportunities and pathway to elevate, they can certainly do more for the lower-

income group; starting with a willingness to pay more for their service.”65

Also arguing for taxes on wealth in Singapore is economist Donald Low at the

Institute of Public Policy, Hong Kong University of Science and Technology. He

writes that, “Wealth comes from the ownership of capital, i.e. financial and

physical assets. As ownership of capital is far more unequally distributed than

labour, the former is a bigger determinant of inequality.”66

7. Reduce healthcare costs The commercialisation of medical care in Singapore as well as levying the GST

on health-related expenses adds to the financial burden of the people. To

alleviate this problem, the SDP proposes the removal of the GST for drugs and

health services.

As pointed out earlier, working adults not only have their children to raise, but

they also have their ageing parents to look after. Insufficient government

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expenditure on health care coupled with increased longevity, adds to the

pressure of working couples.

The Pioneer Generation Package and the Merdeka Generation Package are

short-term deals meant to placate Singaporeans during the election period.

Taxes and cut-backs in government spending on healthcare are, however,

continuing long-term pressure on the people. This is issue will be discussed in

greater detail in our National healthcare plan: Caring for all Singaporeans.

Briefly, the SDP plan proposes replacing the Medisave, MediShield, and

Medifund schemes with a single-payer system to reduce the burden of health

care expenditure on our people. A main feature of our policy is the provision of

universal care which ensures that the elderly poor and those without income are

not left behind.

8. Lower HDB prices HDB flats have become unaffordable for Singaporeans. The use of our CPF

savings meant for retirement to fund HDB flats means that retirees will be left with

little to live on in their twilight years. To ensure that there are adequate

retirement savings, the SDP puts forward our proposal of the Non-Open Market

(NOM) flats. This category of flats is sold at cost (minus land cost) and will not be

allowed to be sold on the open market. The exclusion of the cost of land will

effectively halve flat prices, thus allowing home-owners to save their CPF for

retirement. For a detailed presentation of this idea, please read our policy paper

Housing a nation: Sound policies for a secure future.

Removing the land cost component from HDB prices will also mean lower rental

costs for businesses. Higher rentals mean higher consumer prices as businesses

look to pass on their costs. Lower rentals will also mean that employers can

afford higher salaries for their employees and will be able to meet requirements

under a minimum wage law. This will have the further benefit of removing the

incentive to keep wages down by hiring foreigners. Higher salaries mean better

spending power which will in turn benefit the economy as a whole.

Presently, high HDB prices caused by high land prices only benefit the

government which continues to extract from Singaporeans a large proportion of

our wages.

9. Return CPF savings in full

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Withholding retirees' savings through the Retirement Sum Scheme makes it

immensely difficult for the elderly to survive. This scheme must be abolished and,

in its place, an “opt-in” clause could be introduced to allow members to have

their CPF funds retained and returned in instalments. Such an opt-in scheme is

done strictly on a voluntary basis.

10. Stop profligate public spending The government must be held to strict account how it spends the people's taxes.

Lavish and unnecessary expenditure such as $880,000 rubbish centres and

$1,500 bus-stop seats must cease. To do this, an effective opposition presence in

Parliament, one that will meaningfully and competently examine records and

question the ministers, is essential.

H. CONCLUSION

The principle that undergirds the above proposals is that the people must take the

lead in building our economy through innovation and derring-do, in deciding how

and where to spend our own money, and in budgeting for our own households and

families.

The government comes in to ensure that our business environment conduces to

private enterprise and competition, and that our elderly and weak who cannot

fend for themselves are adequately cared for.

Under the present system, however, the priority of the government has been turned

on its head. The PAP has taken over the running of businesses through Temasek

Holdings (and, in the process, killed off creativity and entrepreneurship), taxed the

people mercilessly, and dictated how we should spend our own money. These

decisions are dictated by a small and elitist-minded group of PAP politicians bent

on controlling the socio-economic-political system for its own benefit rather than for

the common good of the people.

For the good of our nation and its future viability, the PAP’s system must be checked

and changed. We offer this policy position to achieve the goal.

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