Singapore Election 2011

Latest news and updates about Singapore's 14th GE

Low Thia Kiang rebuts Mah on housing proposals

Posted by singaporege2011 on April 22, 2011

Hougang MP Low Thia Kiang has rebutted PAP Housing Minister Mah Bow Tan’s accusation that WP’s housing proposals to lower prices of HDB flats is tantamount to an ‘illegal raid’ on the reserves.

WP has proposed it would lower flat prices by paying less for state land. The land used for constructing HDB flats is sold to HDB by the Singapore Land Authority at market rates and the profits are channeled to the reserves.

The lands for constructing HDB flats were acquired cheaply by the PAP government since 1960s under the draconian Land Acquisition Act.

Mr Low questioned if the PAP is raiding Singapore’s reserves too by distributing Budget surpluses through its Grow and Share package based on the same logic used by Mah.

“We’re not saying that we should not save for a rainy day. We do, I think we should save for a rainy day. But the question is, one, how much is enough? And what is the trade-off?”, he aded.

Due to the PAP’s ultra-liberal immigration and ‘asset enhancement’ policies, the prices of HDB flats have sky-rocketed in recent years, pricing many Singaporeans out of the housing market.

Despite evidence showing otherwise, Mah continues to insist that HDB flats remain ‘affordable’ to the majority of Singaporeans.

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