The new Prime Minister of Australia is against a large population growth. Read this article.
My observation
If Australia with its large size and a population of only 22 million complains about over-crowding, what is the situation in Singapore?
Monday, June 28, 2010
Low birth rate
An edited version of this letter was published in Straits Times Online on 29 June 2010
A Straits Times editorial entitled "A case of try and try again" (28 June 2010) reported on the many failed attempts to arrest the declining birth rate in Singapore. The current average of 1.22 children per woman of child bearing age is far below the replacement level of 2.07, and must place our birth rate as among the lowest in the world.
This worrying fact was noted by the Government almost 25 years ago and several rounds of incentives have been introduced, with great publicity and fanfare, but all of them have failed miserably. We refused to recognise the real reasons for the failure and instead said that this is a trend faced by other countries. If this is the case, why should Singapore fare worst than others?
Singapore's low birth rate is the outcome of our social and economic policies of the past decades, which has resulted in high cost of living, low security of employment, low wages, wide disparity of income, high cost of housing, a stressed education system and so on.
The measures to increase the population through immigration will have their negative impacts. Worse, it will not solve the underlying problems, as the immigrants will face the same difficulties as the local born citizens, and they have more opportunity (and less deterrence) to move to other countries at a convenient time in the future.
I hope that we will be prepared to face reality, address the underlying issues, and be prepared to try new measures that were not tried before in Singapore (but have proven successful in other countries).
Tan Kin Lian
A Straits Times editorial entitled "A case of try and try again" (28 June 2010) reported on the many failed attempts to arrest the declining birth rate in Singapore. The current average of 1.22 children per woman of child bearing age is far below the replacement level of 2.07, and must place our birth rate as among the lowest in the world.
This worrying fact was noted by the Government almost 25 years ago and several rounds of incentives have been introduced, with great publicity and fanfare, but all of them have failed miserably. We refused to recognise the real reasons for the failure and instead said that this is a trend faced by other countries. If this is the case, why should Singapore fare worst than others?
Singapore's low birth rate is the outcome of our social and economic policies of the past decades, which has resulted in high cost of living, low security of employment, low wages, wide disparity of income, high cost of housing, a stressed education system and so on.
The measures to increase the population through immigration will have their negative impacts. Worse, it will not solve the underlying problems, as the immigrants will face the same difficulties as the local born citizens, and they have more opportunity (and less deterrence) to move to other countries at a convenient time in the future.
I hope that we will be prepared to face reality, address the underlying issues, and be prepared to try new measures that were not tried before in Singapore (but have proven successful in other countries).
Tan Kin Lian
Structured deposit
My friend brought back a brochure of a structured deposit offered by a big local bank. It contains about 10 pages of explanation. It offered an interst rate of around 1.5% per annum and require the investment to be locked up for a few years.,
I advised her not to invest in this type of structured deposit. Why should a consumer have to read some many pages of conditions that are written by the bank through their lawyer? Surely, there must be some catch somewhere?
It is better for the consumer to take the risk and invest in a low cost investment fund. The risk can be reduced by following the principles set out in Practical Guide on Financial Planning.
If the consumer finds the market to tbe too high now, or that the economic situation is uncertain, it is better to keep the money in a savigns account (earn 0.125% per annum) and wait for a better time to invest in the fund. There is no point to lock up the monty for a few years and earn just 1% per annum (and still be subject to conditions that is not so transparent to the consumer).
Tan Kin Lian
I advised her not to invest in this type of structured deposit. Why should a consumer have to read some many pages of conditions that are written by the bank through their lawyer? Surely, there must be some catch somewhere?
It is better for the consumer to take the risk and invest in a low cost investment fund. The risk can be reduced by following the principles set out in Practical Guide on Financial Planning.
If the consumer finds the market to tbe too high now, or that the economic situation is uncertain, it is better to keep the money in a savigns account (earn 0.125% per annum) and wait for a better time to invest in the fund. There is no point to lock up the monty for a few years and earn just 1% per annum (and still be subject to conditions that is not so transparent to the consumer).
Tan Kin Lian
Survey - Ministers
On popular request, I am carrying out this survey (now closed) for you to rate how well our ministers are doing their jobs.
Update
Here are the survey results based on 100 replies.
Update
Here are the survey results based on 100 replies.
Soft infrastructure
Dubai leads the way.
My observation.
When I visit Dubai, I do not have to fill in any immigration or customs form. They checked my passport and let me through. Dubai is the only country that have done away with the unnecessary forms asking for information (for tourist statistics and other reasons) that they do not really need. In many countries, they make you fill up a few detailed forms, but nobody bother to pay any attention.
Even Singapore require tourist to complete a form to keep statistics that are not really necessary.
My observation.
When I visit Dubai, I do not have to fill in any immigration or customs form. They checked my passport and let me through. Dubai is the only country that have done away with the unnecessary forms asking for information (for tourist statistics and other reasons) that they do not really need. In many countries, they make you fill up a few detailed forms, but nobody bother to pay any attention.
Even Singapore require tourist to complete a form to keep statistics that are not really necessary.
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