Haha...so now you are singing the government's praises for
running things so much better than Australia. Foreign talents are
needed in higher paying jobs because we lack the necessary skills.
There aren't enough lawyers with experience handling big
corporation mergers, so we need FT. There aren't enough scientists
and engineers to push our biomedical research, so we need FT. There
aren't enough fund managers with stellar performance, so we need FT
and there aren't enough management consultants with experience in
MNCs, so we need FT. Singapore is a small island and we do not have
consultants with experience in public transport systems. Our
knowledge is limited to the one we have. To conduct a proper
review, we need consultants who have experience with different
transportation systems in a big country like Australia.
Without FT, more Singaporeans will lose jobs. Without foreign
lawyers and bankers with specialist knowledge, multi-billion dollar
mergers cannot be conducted here. Without top scientists and
engineers, we cannot grow our R&D and without foreign workers
who will work in wafer fabs, these businesses will move elsewhere,
leading to more job losses for Singaporeans.
Investment companies take risks, make profits and losses. It does
not matter as long as the bottomline shows a healthy profit. Their
net profit was S$7.4 billion (US$4.4 billion) in FY 2004, S$241
million in FY 2003 and S$4.92 billion in FY 2002
(http://www.temasekholdings.com.sg/). If they do not perform, they
will have to account for it, as all commercial companies do.
Why 7% GST? So the government can cut the corporate tax to make
Singapore competitive. Hong Kong and many of our competitors have a
lower tax rate than us. To avoid losing businesses to them, we have
to cut our corporate tax and yet have to raise more money for
programs to support the poor. GST is the only way to raise the
revenue.
Underperforming civil servants are regularly sacked and demoted...I
KNOW 'cos
I have worked in the system.
If locals do not have the skills of a FT, of course they will have
to accept a lower pay. That's just business. Life's prizes go the
faster and stronger man.
If they are worried about survival, why are they not taking up
the jobs in the wafer fabs that are forced to employ foreigners or
else close shop? Wages are tied to what the market is prepared to
pay for the products and services. If your product or service
commands a low premium than another, you get lower wages. A trader
may work 10 hours a day and earns $6000 a day. A cleaner may sweat
in the hot sun for 10 hours a day and earns $600 a month. That's
just what the market will pay for their respective services. And
the cleaner is more likely to lose his job because there are more
cheap foreigners who are able and willing to do the same job for
less. Those foreigners cannot do the job of the trader.
