Home News Lim Swee Say, say what?

Lim Swee Say, say what?




- Advertisement -

First there was admission but it was quickly followed by a denial. Minister without portfolio Mr Lim Swee Say said at the National Day observance ceremony, “being a high cost location does not mean being a high cost location.” He was referring to the high costs of doing business in Singapore.

It is anybody’s guess as to how he made that logical leap to make an oxymoron statement like that – How can a high cost location not be a high cost location? I suppose the cost of living or doing business in Singapore is relative to one’s pay-check.

Leading economists think that the rising costs of doing business in Singapore is hurting us and the productivity and innovation drive by the government is not so effective and may lead to a deep recession like the one we experienced in 1985.

We have seen a rise in wages but not a corresponding increase in productivity. And increases in prices will eventually lead to an inflationary spiral which may lead to stagflation.

- Advertisement -

A strong Sing Dollar also means that our goods and services are less competitive in the global markets.

Overall, economists paint a very bleak picture for Singapore’s economy in the near future. It seems like we are heading into choppy waters and the rubbish spewing minsters are not giving us any reassurances about the health of our economy.

Face it Swee Say, with Singapore ranked as the most expensive city, we are a high cost location, period. At least, get your facts right before distorting it.Follow us on Social Media

Send in your scoops to news@theindependent.sg 

No tags for this post.
- Advertisement -

A room in Khatib advertised for S$550/month turns out to be a partitioned space

  Singapore – A member of the public took to social media to inquire if it was reasonable to pay S$550 a month for a partitioned space advertised as a room for rent in Singapore. One Fvyn Hedkandee took to Facebook on May...

Covid-19: Lawrence Wong warns SG now on ‘knife’s edge’, community cases can go either way in coming weeks

Singapore—Striking a sober note in Parliament on Tuesday afternoon (May 11), Education Minister Lawrence Wong conveyed that Singapore is now at a crucial point with regard to the Covid-19 pandemic. “I think it’s very important for us to understand that we are...

A ‘mistake’ to appoint ex-PAP minister Khaw Boon Wan chairman of new entity after SPH restructuring: netizens

Singapore – Netizens expressed concern over the news that former Cabinet minister Khaw Boon Wan will chair the board of the new not-for-profit entity following Singapore Press Holdings' (SPH) restructuring. That, according to them, will be "a mistake." Minister for Communications and...
Follow us on Social Media

Send in your scoops to news@theindependent.sg 

No tags for this post.