Tweaking all the flawed policies in Singapore
1) Introduce a mninimum sum salary eg $5 per hour.
2) Workfare should cover all up to $2,000 salary. The cash component of workfare should be increased.
3) Wage Supplement should be increased to 50/50 between Government and employers but they should only benefit the low income eg those on Workfare as the present system will kill productivity.(up to $4,000 salary)
4) CPF should be paid for all workers, both Singaporeans and Foreigners. Those who work as maids and construction should be paid 50% of their full CPF as the numbers are too great and we do not want to attract unskilled workers for the long term. There should be another group of maids which are caregivers for the old, they should be trained in this area and be given higher salary than their peers. As in my previous articles, these workers can use their CPF for healthcare and will be able to withdraw their CPF when they return to their own country when their contract expires to put into their own country healthcare and retirement planning. There is no need for a quota system.
5) Loans for new cars should also be a two tier system. For luxury cars only a 50% loan will be given as most are already rich and do not really need a loan. The other category will be a 70% loan for other type of cars which command an ARF of 140%.
6) It is about time to review the diesel tax and cng tax which makes it the same pricing as petrol, this is a stone age way of controlling the cost of transport in singapore. The government should encourage the use of hybrid, electric and biodiesel cars and be prepared for the future when petrol will rise to an exorbitant level. Our transport minister is sleeping as we need all types of public transport, it may not be feasible to rely on buses and mrt alone, the use of taxis, electric motorcycles and bicycles should also be encouraged. Therefore if mrt costs are the most expensive, all the other modes of transport should all be lowered. Taxis should be considered as public transport and should not be taxed as private transport. Taxi fare increases should be frozen for 3 years.
7) All other recommendations of Budget 2013 should be fine.
8) There will not be a need to extend your budget for the above recommendations.
– Contributed by Oogle.