It all the pressure from the car industrial, the whole of
singapore knows it, except LTA and their frog minister, who may
know it, but choose to turn blind on it.
COE being high will definitely deter buyers of cars, even some
of the richs will also think of spending wisely, not that being
rich, they will buy car, being prudent and realistic is also in the
mind of most business rich peoples. Many new car salemen was cut or
resigned from their job due to poor demand, not only car seller
will be affected, the loan and insurance co, the servicing, the
repairer, parts, and nearly the whole car industrial including
traffic fines and ERP etc etc will be affected. Less business means
less jobs. Less spray painter, less admin, less service engineer
and so on.
Now then they see, from the marco level, the long term
effect if thing are not change, but to start with Taxis is really a
joke, bidding on a open market will only increase taxi companies
cost, when that happen, the domino effect will take place, end up
consumers will bear the cost. And when consumer having to bear to
cost decided to tighten their belts. Then we will see more taxi
with green signs on the road.
If the population continues to increase every year, you can be
sure the public transport system will fail more often.
If that happens, some people might still be inclined to take
cabs instead.
So I don't think cab business will be affected.
The cause of most of Singapore's problems comes from the inlfux
of people into the country.
Reduce the numbers back to 4 or 4.5 million and the problems
will decrease. 