Accustomed to total control and little engagement for decades, the PAP appears unable to grasp the political awakening of Singaporeans.
The mainstream media reported the 7 June protest as one which CPF members “called for the ability to opt out of the CPF scheme’s minimum sum requirement and for better returns on CPF monies”. link
It seems transparency is a dirty word to the mainstream media because the PAP thrives on opacity. With opacity, the PAP is able to project an entirely different image to the world with a generous helping of half truths and misleading data while inconvenient statistics stay hidden. But this illusion is about to be shattered.
Millions of citizens (including those who have died) have suffered from PAP’s failed policies such as housing, healthcare, education, etc. Instead of tackling the issues head on, the PAP has been using the CPF policy to “mop up problems in other policy areas”.
Vincent Wijeysingha says the PAP is unsettled because “the CPF is at the heart of the entire policy framework” and there is a lot of truth in this statement.
Should less CPF be used for housing, prices will drop tens of percentage points. This will have knock on effects on the GDP, confirming it is a mirage.
Should less CPF Medisave be allowed for healthcare, the government will then have to foot our healthcare bill, leaving it with less money, perhaps, for buying votes before an election.
Should less CPF be allowed for investment, our local stock market may not be as resilient and earnings of financial institutions will take a dip.
Should less CPF be allowed for education, the PAP will pay a political price for high education cost which looks worse when it provides $400 million in education grants to foreigners annually.
Our CPF retirement savings have been abused and that’s the fundamental reason why we will never have sufficient retirement funds. But as can be seen from the above, any policy shift/U-turn to resolve CPF policy errors will impact our economy. In all likelihood, the PAP will kick the CPF can down the road.
Below are links to some of the speeches at Hong Lim Park on 7 June. An increasing number of Singaporeans are now able to see the PAP for what it really is. The PAP can change and start taking care of citizens or be changed.