Will minimum wage laws work here?

[Konnichiwa]

No amount of hardwork by sinkies can compensate for lazy landlords.

Don’t forgot.... there will be period of no rental...
All the maintenance they have to foot...

 

[Hindsight101]

All costs in SG get added up quickly which is why it becomes the most expensive place for everyone especially the local.

 

[Konnichiwa]

All costs in SG get added up quickly which is why it becomes the most expensive place for everyone especially the local.

No worries... once the Covid prolongs... this problem will resolve by itself..

 

[Hindsight101]

Don’t forgot.... there will be period of no rental...
All the maintenance they have to foot...

There are many hoarders and why should the economy or the people pay for these hoarders when they pass their buck to the companies?

How to increase productivity?

 

[oreoiceblended]

Firms that make big bucks here probably will not be hiring Sinkie which is the reason for so many ongoing debates.

Governement can save huge amount of expenditure by not dumping money into the sea in the first place. What's the point of making Pulau Tekong 5 times its original size?

Well you can park the blame for that on FDI reliance. But the issue is that FDI reliance has been there for decades. A change in focus will have catastrophic short term impacts and uncertain long run impacts. One can only speculate if the total welfare gains from more local employment outweighs the benefits derived from taxation of FDI and its associated expansionary effects. And it seems like the economists under the govt have determined that the latter is better.

 

[oreoiceblended]

I think ultimately it depends on the reasons why companies are now setting up in Singapore instead of other neighboring countries

Because if we were to compete on lowering wages, we can never be lower than Malaysia, india etc

So I feel the crux is to find what makes them willing to stay at Singapore in the first place ?

Even sg no minimum wage, companies have been shifting ops overseas but not completely. What stop them? That’s the bargaining power of sg and its people

If we were to compete in wages like I said it is a slippery slope too. With our high cost of living, inflation has eat up on a lot of purchasing power and also there is income inequality etc. and our wages can never be lower than Malaysia etc

Singapore has been lowering costs for a very long time. It has one of the lowest corporate tax rates with special tax packages. Costs of labour is often not significant for MNCs with substantial economies of scale. However, you can’t beat taxation with scale.

 

[Hindsight101]

Well you can park the blame for that on FDI reliance. But the issue is that FDI reliance has been there for decades. A change in focus will have catastrophic short term impacts and uncertain long run impacts. One can only speculate if the total welfare gains from more local employment outweighs the benefits derived from taxation of FDI and its associated expansionary effects. And it seems like the economists under the govt have determined that the latter is better.

Who foot the bill for the FDI, if it has been going so well, why are there are so much unhappiness all around us?

There is no point to dump the taxation into something else.

 

[xcodes]

hasn't the min wage requirement for ftrashes just gone up?

 

[Kaypohji]

I feel so too. Just like I know of a recently set up company with hq in China. They chose Singapore was because of the tax benefits. They save millions of dollars but their office only employ 4 persons... which ironically is all PR with 1 newly converted Singaporean.

Anyway tax is the main thing that attracted those companies. And actually those companies that set up in Singapore aren’t labor intensive in the first place like manufacturing

Singapore has been lowering costs for a very long time. It has one of the lowest corporate tax rates with special tax packages. Costs of labour is often not significant for MNCs with substantial economies of scale. However, you can’t beat taxation with scale.

 

[Hindsight101]

Singapore has been lowering costs for a very long time. It has one of the lowest corporate tax rates with special tax packages. Costs of labour is often not significant for MNCs with substantial economies of scale. However, you can’t beat taxation with scale.

There is no free lunch especially when we have a habbit of dumping money and hoarding properties and to pass maintenance fee to companies that are here.

The operation cost is the highest, while not for taxes and labour, what is?

 

[Baddieko]

Pls lah even china have 2500 RMB min wage.

Time to look at it.

 

[oreoiceblended]

Who foot the bill for the FDI, if it has been going so well, why are there are so much unhappiness all around us?

There is no point to dump the taxation into something else.

put things simply, the scenario today might be one of the better ones out of all possible permutations. FDI is almost a necessity due to the high degree of imports in singapore. Can you name any significant local brand that exports globally overseas, and made in singapore? The gdp in Singapore is basically from export revenue, and 70% of investments that basically make up that export revenue is FDI.

So FDI serves a double role: it boosts income, and allows for imports in the first place.

If you make in Singapore and consume in Singapore by Singaporeans for Singaporeans, you end up with an inability to import anything at all, even if your nominal salary skyrockets. What sort of items do you intend to sell locally without importing any inputs? Bl0wjobs?

 

[Baddieko]

Progressive wages less disruptive to economy because government pays the increase.
Also just a few industries involved just enough to give people the impression that gahmen is working.

Minimum wage is corporates pay the increase and is slippery slope situation that the current sweat shop employers are very weary of. Because once opposition gains foothold and demands higher minimum wages in future, they cannot tahan the increase and close shop and gahmen will then have to sponsor/ extend the jobs support scheme, like in a permanent way, even after covid-19 is over.

Actually where is the info that gov pay for PWM? Workers take course demand high pay without increasing much productivity Isnt it free rider also?

Currently its implement in govt workplaces so they pay the PWM wage.

Tell that to private companies to pay they will laugh at PWM.

 

[Hindsight101]

put things simply, the scenario today might be one of the better ones out of all possible permutations. FDI is almost a necessity due to the high degree of imports in singapore. Can you name any significant local brand that exports globally overseas, and made in singapore? The gdp in Singapore is basically from export revenue, and 70% of investments that basically make up that export revenue is FDI.

So FDI serves a double role: it boosts income, and allows for imports in the first place.

If you make in Singapore and consume in Singapore by Singaporeans for Singaporeans, you end up with an inability to import anything at all, even if your nominal salary skyrockets. What sort of items do you intend to sell locally without importing any inputs? Bl0wjobs?

If you think this is good, then Bloomberg would not have deemed us as a population ponzi.

 

[hardwriter]

Singaopore should still continue to pay their people lowly

 

[pattanispirit]

r u willing to pay maids & bangla construction workers min wages ?

first thing happened will be more women opt to be housewives, since no point earnings goes to paying maids since diff is not significant.

second, our housing prices will shoot above HK cuz HK got its own pool of low educated construction workers, we don't.

 

[hardwriter]

I didnt know minimum wage need natural resources to support?

Whatever the hell it means

 

[fishbuff]

r u willing to pay maids & bangla construction workers min wages ?

first thing happened will be more women opt to be housewives, since no point earnings goes to paying maids since diff is not significant.

second, our housing prices will shoot above HK cuz HK got its own pool of low educated construction workers, we don't.

you always preach about buddihsm on edmw, and yet in this statement, you didnt show a shred of empathy for your fellow countrymen that are struggling to put food on the table...

hypocrisy at the extreme?

 

[hardwriter]

r u willing to pay maids & bangla construction workers min wages ?

first thing happened will be more women opt to be housewives, since no point earnings goes to paying maids since diff is not significant.

second, our housing prices will shoot above HK cuz HK got its own pool of low educated construction workers, we don't.

I think for starters just use minimum wages on locals.

And to legislate companies need at least 40% locals across all departments.

Additional 20% levies on EPs and SPs.

Definitely will work

 

[cleffa3000]

u want the cai png from $4 suddenly rise to $10

definintely a lot of ppl will complain