High Cost of Living.
Just get used to it? So simple?
Little can be done. The government wants Singaporeans to get used to the high cost of living. GST, COE, BTO, rental, property tax, public transport fares, all these are contributing factors.
The simple excuse is market forces and external factors that the government has no control. So, the only thing that Singaporeans can do is to seek help, assistance, subsidy, discount, rebate or cash payment for the very needy.
High cost of living will continue, so do the tax revenues from GST, property taxes, etc. Without the ‘High”, revenues will also not be ‘High’. The reason for the ‘High” is also very simple. No debt for future generations.
The major economies in the West will most likely enter recession next year. Low interest rate is expected but inflation remains the issue. This means the high cost of living will remain but the middle and low income families will have to face the realities.
The government’s assessment is that Singaporeans can face the challenges of high cost living. They have also planned ahead all the necessary assistant programs. Just get used to the high cost of living and do the priorities right. There are many options, less travelling, downgrading, longer working hours, second job, family or social support.
Is this assessment logic sustainable? Helps are plenty and Singaporeans must get used to the high cost of living and also must also learn how to get help and set priorities right.
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