SDP: UNEMPLOYED & FINANCIAL DURESS S’POREANS TARGETED BY FB ADS OFFERING FAST MONEY

Of late, there seems to be more of such ads appearing on Facebook targeting the unemployed and those under financial duress. With the economic situation worsening, there’ll be more and more Singaporeans falling into this category. We need to deal with this urgent problem. Here’s a summary of the SDP’s plan:

Immediate term:

1. Introduce retrenchment insurance
2. Legislate minimum wage
3. Abolish CPF Minimum Sum Scheme.

Longer-term:

1. Reduce dependence on foreign workers
2. Empower workers by stopping govt control of trade unions
3. Introduce Non-Open Market HDB housing (by reducing savings going into property, capital is freed up for more productive and entrepreneurial economic activity)
4. Raise productivity (democratising the political system will encourage critical thinking essential for cultivating creativity and innovation)
5. Eliminate GLCs (divest Temasek) and develop SMEs
6. Increase healthcare spending
7. Reduce income inequality
8. Use a basket of economic-health indicators rather than just GDP