Fact: PAP has been generating economic ‘growth’ by increasing headcount since Goh Chok Tong became PM in 1990.
The one-trick PAP pony is now totally reliant on this shortcut.
That PM-to-be Heng Swee Keat recently cited “former chief planner Liu Thai Ker, who said in 2014 that Singapore should plan for 10 million people ..” should not have surprised anyone.
The urgency to quickly increase the population is obvious: PAP missed its population growth target by more than 200,000 last year. **
While a high intake of foreigners benefit GLCs by lowering wages, this is detrimental to Singaporeans.
Singaporeans have been told that foreigners create good jobs for citizens. But unless PAP could provide a breakdown of good jobs and salaries, one should only assume that PAP lied.
This has resulted in stagnant property prices, reduced GST and various tax income, low returns from increased infrastructure investment, low electricity demand, etc.
Not to mention the huge impact on GLCs in pow-chiak businesses such as NTUC Fairprice, SMRT, SBS, Singtel, public hospitals, etc.
Even stat boards, eg ICA, are not spared.