In countries with national health and gov funded pensions
In Singapore its 100% your own money.
There is no welfare.
so check the next post..
A shop for a Doctor in a supposedly gov subsidized Housing Development Board building,only SGD1700/day rent
Gov will say its is subsidized, imagine what we could of charged..lol
https://mothership.sg/2025/06/tampines-clinic-rental/
Gov makes huge money from so called subsidized housing they sell as leasehold
No corruption in Singapore ( connected persons ok the rest cannon fodder)
Round one
Round two
and another in business as usual, private clubs are a milking ground.
Singaporeans over 60 can start celebrating SG60 already:
How come so many people now need vouchers?
Is Singapore becoming a welfare state?
“Dont worry about the gst raises we will get it all back from tourists”
Yet gov still needs to borrow more. $1.5 trillion limit now.
“Dont worry our assets equal the debt”..lol ( net worth zero with an interest bill)
How about the interest bill, they never mention that.
You suddenly link to CNA? I was of the impression you do not trust anything that is said by a Mediacorp source, since it is a Government affiliate media.
WHAT HAPPENED???
BTW; the article did contain a question from an opposition MP who worried about the large jump in the limit. The Finance Minister told him not to worry and explained why.
Isn’t this how Parliamentary debates are supposed to happen?:
It doesn’t look like IMF shear your view on Singapore’s financial peril:
Source: https://www.imf.org/en/News/Articles/2025/05/15/pr25147-singapore-imf-completes-2025-aiv-mission
Singapore’s Credit Rating is AAA:
Your such a clown, its fact the debt limit was increased as written by 50 media sources including live on TV.
As to your opinion based posts,
“Singapore’s economy recovered in 2024 but is forecast to slow down in 2025 due to the recent escalation of global trade tensions.”
yet you post this
“These strengths mitigate the economy’s vulnerability to external shocks arising from its high degree of trade openness.”
All of which is opinion based media
So which is it?
Singapore is a trading nation with zero natural resources ( less geographic location) hence its 100% vulnerable to external shocks. Thats a fact.
Indo’s trade deal with USA all but shutdown Singapore’s oil trade with them, Shell have all but left after idling a refinery as Australia buys most product from Sth Korea now. etc.
So its all great financially but we need to sell more t bills to run the country in fact so much its 2nd or 3rd most indebted to gpd in the world and increase GST.
“GLC’s make no money any more”, a quote from the previous PM
20 years ago debt free now its quickly almost up to Japan levels.
Imagine a billion or so a week in interest payments, ouch!
Ok its got a bit of solar now so does have a local resource but thats about 1% of consumption.
If I’m “such a Clown”, while IMF and Fitch Rating is “opinion based media”, what does that make you and your incoherent ranting about how bad Singapore is doing and how the PAP governments are “corrupt”, or worse; “idiots”.
What keeps you living in such a badly run place? (Where only a few expats, “assemble at the round table in the Marina”, has any clue about anything)
Your just parroting the Govs media to fool the fools.
its a wonder you didnt post the other one they spout
"Dont worry our assets = our debt, so no net debt
so net worth zero, lol with a huge interest bill.
its is 100% opinion, remember sub prime mortgages all rating agencies are useless and they proved it.
As long as you keep paying the interest bill your good to go, so like the USA one day the rating agencies will decide the interest bill is getting out of hand.
( Which is why Singapore never talk about it although at the marina the other day I did get a seriously well connected gov advisor to say yes the interest bill is getting scary ( obvious) which shocked a few of his friends who think like you.)
I was surprised he confirmed it.
Perhaps you need to come back and advise the gov as all this debt has only been created since you left?
Are those events connected?
Powerabout, for years you have told all of us about the faults Singapore has and how wrong they are about everything yet it seems you still live there? If so one must assume you are held captive, can’t get a visa or some problem keeps you from moving. Now for the next year why don’t you explain to everyone your ideas about how Singapore can right all the wrongs you see. It is easy to criticize anything it is much more difficult to offer practical solutions. So give everyone your solutions, maybe the citizens of Singapore will take them to heart and demand the changes you wish. Choose to propose some solutions or hang around and bitch about your prison.
You beat me to it. He has sounder like a broken record for years, but I have never seen anything about a solution to all the perceived wrongs.
There is your change to do something positive; give him your ideas about how to fix the wrongs, so he can advise the Government.
You could become as respected as Dr. Albert Winsemius.
Get Trump over to help, might be a solution
LKY tried to get an very experienced expat banker to run Temasek gic etc, but just before he took over he left…
No book deal yet so the payout must have been very large…
Being trapped..
The wealthy pay no tax, ( that deal done years ago to keep them out of politics) so i am trapped here and lots more bring bags of money seem to get passports and join in.
There is one trap, buying a car, ouch
He was there during the boom years when Singapore had a major economic advantage of low cost and low currency so masked the low productivity.
Its geographic position said lets work on port and airport and they sure did for huge economic benefit.
He like Goh Keng Swee all realised that without massive productivity gains the party will be over one day. ( GKS announced that is his opinion but had to say thats not the govs opinion)
Yet allowing Singaporeans to think and be entrepreneurs is counter to a gov that is desperate to stay in power so the gov took the road that to survive we just need cheaper unskilled workers hence lowering productivity even more. The learn by rote education system is part of that policy and now that the current politicians they have are a product of that education system not like the early days when they could think and built Singapore.
Today its a standard joke that a local cant make a decision as they are not allowed to but its only how they were taught.
Locals have become too expensive to employ,through no fault of their own, with an engineered massive property inflation , the gov has engineered them out of the economy.
They are leaving thats the only gift the gov gives them is a good exit due to high property value. If the get another passport they can get their pension back and invest elsewhere. The ones with any get up and go are or have left, kids educated overseas dont come back and its the route to getting PR then a passport for whole family.
The measure of them leaving is the birthrate 21+ years ago and the increase over 4 years between elections of eligible voters says lots have left.
Coupled with a birthrate of under 1 is not helping but typically that says we cant afford 2 children.
Just so you can survive in this ‘wealthy’ ( cough) country here are some handouts
https://www.theonlinecitizen.com/2025/02/18/pm-wong-announces-s600-sg60-vouchers-tax-rebates-and-more-as-budget-2025-goodies-for-singaporeans/
1.5 million foreign workers, so almost 50% of the workforce yet businesses closing as cant get workers especially skilled.
Many know the issue and most have plans or expect they will leave eventually.
It will be a port an airport a casino a bank all run by foreigners a few locals living in owned property and running the fiefdom assuming they survive the debt issues.
The gov pension system that manages the employees funds is not included in the debt numbers and its never published.
It pays out at 4% yet average gov return on all investments is below 4%, population getting older so its being drawn down and new payees are less than retirees.
The gov needed to listen to Goh Keng Swee as he could see todays issue decades ago.