Singapore Election 2011

Latest news and updates about Singapore's 14th GE

DPM Teo: PAP will ‘ease’ your burden

Posted by singaporege2011 on April 28, 2011

Speaking at the PAP’s first rally at Buangkok this evening, PAP Deputy Prime Minister Teo Chee Hean claimed that the PAP regime ‘understands’ Singaporeans’ concerns about rising cost of living and it will do all it can to ‘ease’ their burden.

He added that the country will need a ‘stable’ government to continue to resolve future problems without elaborating on his definition of ‘stable’.

“The economy may have recovered but it’s still facing effects — who knew it would go down and up so quickly? “We understand concerns about the cost of living; we are doing all we can to help. We need food and energy but we can’t control prices — they’re set on world market,” he said, as if giving excuses for the PAP’s failure to control the rampant inflation.

Under PAP rule, inflation has grown at an annual 5 percent with prices of HDB flats almost doubling since 2006.

According to a Wall Street Journal in January 2010, the relentless influx of foreigners has depressed the wages of ordinary Singaporeans, increased the cost of living and led to an overall decline in the standard of living.

An authoritative study “Price and Earning” conducted by UBS bank revealed that Singaporeans have the lowest domestic wages and purchasing power among citizens of First World nations, lower than that of the Malaysians.

DPM Teo also chatised SDP’s proposals to use Singapore’s reserves to help Singaporeans:

“The opposition parties forgot why we needed to use the reserve that gave us comfort. They want to raid reserves. To them, S$60 billion is ‘small change. Ten zeros in this figure is not small change. It’s hard work.”

He forgot to add that Singapore’s reserves have already been ‘raided’ by Temasek Holdings and GIC when they reportedly lost billions of dollars in failed overseas investments in 2008.

Till today, Singaporeans are still kept in the dark on the exact amount lost.


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