Originally posted by kilua:
I understand the point you are putting across. Lower wages would
also help to keep cost of living down e.g. food, transport and
other services etc.
But Singaporeans are already facing rising costs and possibly
declining wages.For those who bear the brunt of the immigrant
policy, that is double whammy . If the govt cannot raise the wages
of the bottom 40%, it should at least try to contain cost of living
for Singaporeans. For example the MRT is already making huge
profits, is there still a need to raise fares?
Sorry, lower wages DO NOT help to
keep COST of
Living down.
With lower wages it will simply lower our STANDARD of Living -
our Quality of Life, as we have less income to afford even to
maintain a reasonable standard of living.
Cost of Living is dictated by the Government - firstly by the land
cost that it is prepared to accept when it releases land for
developers to buy - so as to build homes, hospitals, schools,
shopping malls, offices, and all other amenities relevant to our
lives.
When cost of land is purposefully kept ARTIFICIALLY HIGH - it
affects the selling price of the homes, shops, offices, schools,
hospitals, etc.
With such high costs, the shop owners must charge higher costs to
pay for the rentals or bank loans.
As workers, we will need a minimum higher wage so as to cover our
mortgages and leave some money to pay for our daily necessities,
our children's education, and the family's future.
The Government can affect this cost input if it is willing to be
LESS
GREEDY in setting the minimum price that it is
prepared to dispose of the land for development; as well as to
remove unnecessary burden in high development charges and stamp
duties on the cost and type of development that is planned for the
plot of land.
The other factors that can influence our Cost of Living are also
the cost of Essential Services that are dictated by the Government
- even though these Essential Services are now provided by
"Private
Companies" - these Companies are basically
Government Owned Companies that are registered as Private Business
Entitites.
These Companies are involved in Electricity Generating, Electricity
Supply, Water Production and Sewage Treatment, Water Distribution,
Garbage and Sewage Collection.
Temasek Holding is the major shareholder of Electricity Generating
and sells Electricity at a fixxed price to all the Electricity
Supply Companies that add only an extra cent or two on the high
supply price.
This means that Temasek is making profit by the minute as we use
the computer, the airconditioner, the lightings, the household
appliances - and with the money not even going back to the
Government Finance Ministry, but into the Profit and Loss Account
of Temasek Holdings (probably to be lost in another UNACCOUNTED
Shin Corp disaster).
One will need to ask - Why is Temasek Holdings given this
extra-ordinay privilege of making money from Singaporeans
?
Is it not supposed to be managing Singapore Reserves by making our
reserves earn profits OVERSEAS ?
The other Government Private Owned Companies providing essential
services are similarly earning profits from Singaporeans, and are
not returned or reported in the Finance Ministry Annual Report -
unlike in the past when PUB, PWD and ENV were responsible for these
essential services.
With the COST of Living in Singapore NOT dictated by Market Forces,
but by the wilful profit goals set by the Government aka the Ruling
Party, Singaporeans are paying a higher price than necessary that
make our Cost of Living higher than our neighbors.
As the Cost of Living spiral out of control, and gets higher, this
will affect the Standard of Living, as we can afford less quality
when we must spend more on the essentials to keep ourselves
alive.
Cost of Living is not affected by our wages - even when our wages
will affect the cost to our employer, who will recover this cost
with a higher selling price; in the same manner that this
Government will recover the money given to Singaporeans by charging
a higher price for all the essential services that are in their
monopolistic control.