Wherever we go near to public place we bound to hear Singaporean talking of about social affairs, people will point at government start to talk with social and psychological effects (mental impacts) of current Singapore facing … such as overcrowding, bear a burden, high cost living, rising taxes, medical bills, education … so on issues. Why the rich Singapore and our kin have living in trepidation with these issues?
GAP BETWEEN THE RICH AND POOR
The country continues to progress in the 2004 the real estate prices have grown twice. In 2013 Singapore’s Gini Co-efficient (a measure of income inequality) was at a high of 0.478. This implies that the gap between the rich and poor is getting wider as the city’s progress continues… and those who feel the pinch are the city’s youth.
Take a gander at 2004 to 2015 our expenses of living is shaken to high as can be, you may need to do go back and check at the bills paid for most recent ten years; service & conservancy charges, public transport, GST, families, rental, education, medical …., every expenses keep non-quit rising. The government over spending that make citizens accountability pay more taxes while reducing consumer welfare and endure sacrifices. People keep saying Singapore is so rich, not wrong for Singapore get rich on the grounds that Singaporean work so hard to sponsorship our legislature to help the country economy, our life of CPF sparing with CPF board is the ideal demonstrate. Why hasn’t social welfare benefits gained on citizens?
UNHEALTHY COUNTRY GROWTH
Singapore seen as a developed and wealthy society that has delivered a secure and affluent lifestyle for its citizens equal to anything in the West. The sightless seeking for the country’s every capita wage matches that of most Western countries and its housing, health and retirement schemes are widely praised.
A late study measures the negative effect a high obligation to-GDP proportion has truly had on world economies, and the outcomes haven’t been ideal to country development. Maybe the greatest finding is that high levels of National Debt have been associated with lower development. Financial specialist and Experts analyzed the obligation to-GDP proportions of cutting edge economies for the period from 1800 to 2011; they took a gander at periods where obligation to-GDP surpassed 100 percent for five sequential years development, as earlier studies have demonstrated that to be the moment that it begins to have a contrary impact (People can go online search, as a side note like; USA, Japan, Greece, Ireland, Belgium, Italy, Portugal, Canada & …). Singapore national debt record high the warning trend is raising.
CURRENT NATIONAL DEBT
Lately, Singapore grosses public debt crisis has posed the greatest risk lies in the global economy, public debt in advanced economies away to the highest amount hit a record high from 110,451,000,000.00 (110.4 Billion) to 383,000,000,000.00 (383 Billion) rising by 272.6 Billion from 2004 to 2015. Interest is S$8,000,000,000.00 per year.
See National Clock : http://www.nationaldebtclocks.org/debtclock/singapore
Below are taken from Singapore Debt evolutions
See : http://countryeconomy.com/national-debt/singapore
The appropriate scale of public debt has become a hot issue in the field of academics and policy research. In theory, the impact of the expansion of public debt on the economy is positive or negative depending on the level of the government generates income to cut down the debt. But with each passing year our nation debt news just seems to get even worse keep going up, the debt risen on account because of the economic loss of technical innovation, productivity and vitality, and lack of sustained development of power, that tell the people the government began to loosen its grip on the market recently causing a further slowdown in overall growth and threatening a crisis, many people worry that high levels of national debt could cause burden of rising taxes drive into citizens pocket expend. However, the rising of billing expenses incur on citizens it remains to be seen whether the government policy easing will prevent national debt deeper increase.
NATIONAL FUND RESERVE & CPF
MAS Official released the national Foreign Reserves is 340,438,100,000.00.
From fiscal year 2000, Singapore began to rely on reserves net investment income to fund a variety of costs. Then, in January 2009, faced with a fast deteriorating global economic environment and the prospect of a deep and prolonged recession, the government the first time it had ever dipped into 4.9 billion reserves to help cover Budget expenditure.
2015 year Singapore government to spend 6.7 billion Singapore dollars! There is a deficit, which is about 1.7 percent of its GDP.
Despite the fact that the government’s ability to help spending, yet it likewise implies that the government spend money on the nation’s future. On the off chance that state incomes and government spending are equal in a given monetary year, then the government has an adjusted spending plan. In the event that incomes are greater than spending, the result is a surplus. Anyway, if government spending is greater than tax collections, the result is a deficit. The government then must borrow money to fund its deficit spending. The money mostly originate from the long years of the employees CPF sparing and the National Reserves.
IMMIGRANT POPULATION ISSUES
The overall population for as far back as 10 years has been significant increase in the foreign population influence the price, employment, wage development and reason congestion and other issues of public transport dissatisfied. The so-called happiness is not here with economic growth as the sole measure, it also includes improving the living conditions and quality of life, health, life, and social trust, freedom of life, honest government, and the level of liberality etc.
As of late, Gallup international investigation in 140 countries, compared to residents of different areas of life experience. The outcomes demonstrate that Singapore is positioned the world’s most apathy society. The overview found that Singaporeans express anger, pain and other negative emotions ambiguous. At the point when asked about the value of happiness measurement issues, such as yesterday, there is no smile, whether it feels to be respected, Singaporeans make a positive answer is very little. Singapore resembles the best working nation. In any case, in other aspects of quality of life in Singapore’s performance seems to be so unhappiness.
HEALTH CARE POLICY
Singapore’s healthcare system has gained an international reputation for impeccable standards, with state-of-the-art medical facilities.
See : http://www.allsingaporestuff.com/article/singapore%E2%80%99s-health-policy-benevolent-or-tyranny
As Singapore runs into a global economic downturn, the effect of Government stimulates domestic demand to promote economic growth is limited. Therefore, the Government budget will focus on workers to keep Singapore economic growth is best defined as an increase in keeping to bring in immigrants to backing its blasting economy and secure the government operation that to demonstrate the people they are capable to keep nation financial victories.
The government has advocated a liberal immigration policy, but with the influx of immigrants, inflation, and rising income inequality, housing price rising, causing social security issues … and so forth. Public opinion turned against this policy, many citizens took steps forward to telling the government enough, not all its citizens have benefited from its monetary victories. From the Singapore Debt Evolution show in year 2004 to now, Singapore economic growth overwhelmed, the government spending is really depending on National Servers & CPF obtain to go the day.