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Source:
www.gov.sg |
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Excerpted from PM Lee's
Speech |
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"Singapore is Opportunity" |
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“But, rising expectations is the most difficult to
resolve. As Low Thia Khiang says, the standard of living index – not the cost
of living index - went up too high. You compare with your neighbours, you see
new products, you want new things, and our expectations therefore run ahead of
our ability to pay. |
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“One solution is to tell Singaporeans to just
lower your expectations, settle for the second best. It is too tough to
compete, our future is not going to be that bright, just be satisfied with
what you have. We are not going to do that. |
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"We will aim high but we will aim to bring out the
best in our people, get people to compete, get them to fulfil their
expectations and to the best of their abilities so that they can have a better
standard of living and afford what they aspired to. That is the best way to do
it. |
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“But notwithstanding this feeling of pressure, in
real terms, the standard of living of most Singaporeans has gone up. This is
a fact which we have to remind ourselves regularly and every time Mr Low Thia
Khiang or Mr Chiam See Tong raise it, they are doing me a favour because I get
to update my charts. |
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“Taking the last five years, from 1998 to 2003 -
these are difficult years including the recession and the Asian crisis - per
capita income went up from $35,968 to $38,100, or 5.9%. The overall cost of
living went up by only 2.5%. |
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“In other words, even during these difficult
years, your incomes went up faster than the cost of living. And if you look at
the items that make up the cost of living index, food prices went up slightly
but clothing got cheaper, housing got cheaper, transport and communications
got cheaper. Education and healthcare got more expensive. |
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"But even for healthcare cost only went up by 11%
over five years. So, overall, there is no basis to say that middle-income
Singaporeans are worse off and that price increases have left them with
nowhere to turn to. |
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“If you look at what they own and what they do,
you will see how our standard of living has risen. In 1998, 50% of Singapore
households had somebody who travelled overseas. In 2003, after five very
difficult years, 47% of Singaporeans still travelled overseas. And they go
everywhere, to Australia, Korea, and China, not just along the coast but
inland, to very far away and adventurous places. |
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“At home, Singaporeans have lots of consumer
durables. We used to look at basic indices such as ownership of television
sets and telephones. Then we stopped looking at these indices because we
reached the saturation point. So then, we started looking at washing machines
but they are also at 90-something per cent. |
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"So now, we have to look at ownership of personal
computers and handphones, which have all risen. For air-conditioners, during
these five years, the ownership percentage went up from 58% to 72%. That is
part of the reason why electricity bills cost so much because air-conditioners
consumes a lot of electricity. |
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“Singapore’s standard of living is real. Yes it is
high, but it is not a pie in the sky or a castle in the sky, as Mr Low Thia
Khiang claimed. Our policies have resulted in this standard of living and our
plans and our approach are the best way to raise this standard of living
further. .. |
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“Do not just promise welfare benefits but show
people the price tag. Explain how you are going to fund this for the people,
how are you going to pay the bill, and who is going to pay the bill. |
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"And if you impose such a bill on Singaporeans,
which Singaporeans will stay to pay it? And which Singaporeans will say,
‘thank you very much, I’m off. There are so many other countries in the world
where the taxes are cheaper’… |
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“Our approach is right – keep our taxes low, keep
our government trim, let people keep what they earn, encouraging them to work
hard and do well, and to take Singapore forward. We should persist and
fine-tune this approach…” |
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Excerpted from Speech by Prime
Minister Lee Hsien Loong in Parliament on 19 Jan 2005 - “Singapore is
Opportunity” |
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Full Text of Speech |
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Source:
Singapore Government Press Release 19 Jan 2005 |
Rising expectations of Singaporeans 
