Singapore has been doomed by PM Lee and former PM Goh.
Lau Goh basically had no idea about generating economic growth: to him, this could simply be achieved by growing the population. He became addicted to this shortcut and was amply rewarded with a salary increase of more than 300% before he left office. Till today, he is still dependent on tax dollars for a living despite his epic mistake. 😦
On seeing how his predecessor had benefitted from such an easy way to generate economic growth, PM Lee wasted no time in ramping up the population by 650,000 – mostly foreigners – during his first 4 years in office.
From 2004 to 2008, our GDP skyrocketed from US$114 billion to US$182 billion. During the same period, PM Lee earned the highest political salary in the universe – $3.8 million – and entry-level ministers earned $1.9 million.
What our joker leaders have refused to acknowledge: shortcuts to economic growth have a huge cost. And no democratic government will emulate PAP’s ‘growth’ model for reasons obvious to nincompoops.
One of the ways to mitigate our high living costs for foreigners is by increasing the number of PRs.
By granting them PR status, PAP is effectively providing them public housing, healthcare and education subsidies.
Hmm .. allow foreigners to compete with citizens for limited public resources, perhaps to have spurs stuck in our hides? A look at the numbers confirms the high price Singaporeans have paid for taking economic shortcuts.
When Lau Goh became PM in 1990, the number of PRs stood at 112,000. After the seat was sufficiently warmed in 2004, PRs had increased to 356,000. There was no turning back for PM Lee who continued to increase PRs to, currently, 524,000.
There is no justification to have PRs increased by 368% while citizens increased by only 30% over the same period. But of course PAP does not need anything justification to implement any policy. 😦
With absolute power, PAP has the right to take citizens for idiots: we are supposed to believe a pool of more than 500,000 PRs is needed to select only 20,000 new citizens. 🙂
A pool of between 150,000 and 200,000 PRs would have been more than adequate and the excess of 350,000 PRs is a burden on society: they strain our budget.
Assuming a $10,000 subsidy for each of the excess PR, $3.5 billion from our budget goes to benefit PRs annually.
What about pushing up public housing cost since they are eligible to buy public housing flats? Or depressing wages because of their willingness to accept lower pay? Not taking away locals’ jobs?
Besides PRs, the Goh-Lee team increased the number of foreigners by a whopping 1.36 million. Again, did PAP forget that foreigners are also people who need food, housing, healthcare, transportation, etc?
There is a huge financial and social cost when the Goh-Lee team increased the number of foreigners and PRs by almost 1.8 million. A a big chunk of our annual budget, eg increase in expenditure of MHA, MOM, MND, etc must have gone towards supporting the increase of 412,000 PRs and 1.36 million foreigners.
The PAP should discard its shortcut to generate economic growth as this is clearly unsustainable.