Leong Mun Wai on cost of living crisis
It is apt to describe ongoing inflationary pressures faced by Singaporeans as a crisis, even as the Government “does not seem too concerned about this crisis and continues to add oil to the fire” - NCMP Leong Mun Wai said this in Parliament on Tuesday (Nov 7) while expressing support for a motion raised by the Workers’ Party. He said the crisis is not entirely due to global supply chain disruptions arising from the COVID-10 pandemic and war in Ukraine, but also because of “structural issues” such as the Government becoming a “profit-seeker” rather than price stabiliser in the economy and wages not keeping pace with prices. Mr Leong called for an urgent review of how fiscal resources, including Singapore’s reserves, are being used before taxes are raised. He proposed an “integrated cost of living relief package” consisting of five measures - reducing GST to seven per cent, increasing the latest support package from S$1.1 billion to S$5 billion to include help for the middle class and SMEs, introducing his previously mooted Affordable Homes Scheme, introducing a universal health scheme where the Government pays MediShield and CareShield premiums, and introducing a minimum wage with take-home pay of S$1,800 a month.
It is apt to describe ongoing inflationary pressures faced by Singaporeans as a crisis, even as the Government “does not seem too concerned about this crisis and continues to add oil to the fire” - NCMP Leong Mun Wai said this in Parliament on Tuesday (Nov 7) while expressing support for a motion raised by the Workers’ Party. He said the crisis is not entirely due to global supply chain disruptions arising from the COVID-10 pandemic and war in Ukraine, but also because of “structural issues” such as the Government becoming a “profit-seeker” rather than price stabiliser in the economy and wages not keeping pace with prices. Mr Leong called for an urgent review of how fiscal resources, including Singapore’s reserves, are being used before taxes are raised. He proposed an “integrated cost of living relief package” consisting of five measures - reducing GST to seven per cent, increasing the latest support package from S$1.1 billion to S$5 billion to include help for the middle class and SMEs, introducing his previously mooted Affordable Homes Scheme, introducing a universal health scheme where the Government pays MediShield and CareShield premiums, and introducing a minimum wage with take-home pay of S$1,800 a month.
Popular Shows
