PM LEE: The more you tighten the inflow (of foreigners), the slower growth is going to be

[upslorry]

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Remember during Election 2011, PM LEE and his PAP promised the people they will control the inflow of foreigners, control HDB prices and review singaporean income.

Now 7 months after they won the election, they are going back their words and act as if nothing happened, now hinting they have to open the gates to allow more foreigners to come in once more.

Election 2016 they are going to give empty promises again.
Are the 60.1% so happy to have such a government who never keep promises?






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Singapore PM: Economy Is Visibly Slowing Down

Singapore's economy is visibly slowing down and will continue to do so into the first half of 2012, as global economic conditions get tough, Prime Minister Lee Hsien Loong said Wednesday.

"We are now in a period where incomes will be under pressure at the low-end. I think even in the middle, white-collar workers will also be coming under pressure," Lee told CNBC.

On a quarter-on-quarter annualized basis, Singapore's economy grew 1.3 percent over July-September, after contracting 6.3 percent in the previous quarter, according Ministry of Trade and Industry.

Annual growth is expected to slow to around 5 percent in 2011, after a record 14.5 percent rise in 2010, the Monetary Authority of Singapore said late October.

"There will be uncertainties because the (economic) cycles are shorter, things go up, things go down," PM Lee said.

For the economy to continue to grow at a strong pace, Lee said Singapore needs "more workers, more skills, more talent."

Foreigners account for nearly one-third of the country's 5.18 million population, according to the Department of Statistics' latest data.

"The more you tighten the inflow, the slower growth is going to be and that's something Singaporeans will have to understand," he added.

source:
http://sg.finance.yahoo.com/news/Singapore-PM-Economy-Is-cnbcwp-2922173667.html?x=0

 

[goenitz33]

Did anyone expect them to keep to their promises?

If yes i believe that person is really naive.

Politicians can promise the Moon during the campaign however once they are elected it becomes a different story. This is especially so when the Politician's party is so obsessed with GDP Growth.

 

[Kiwi8]

To trust them is to believe that the sun will rise from the west.

 

[tonyc]

Let him do whatever he want lah... 5 years down the road, he will loose another GRC if he's still being so stubborn

 

[goenitz33]

Foreigners account for nearly one-third of the country's 5.18 million population, according to the Department of Statistics' latest data.

Soon will be 1/2.

then it will be 3/4, locals will become minority but will still continue to support the Pappies.

 

[celsus]

Singapore's economy is slowing down because of a crunch in the global economy in Europe and America. Not much our multimillion dollar ministers can do about it. To keep attributing slowdown to some sacred cow policies of the gahmen is getting annoying and disingenuous

 

[superman]

We already have 1/3 of our population consisting of foreigners and he say that the low and middle income salary is under pressure so what makes he think that increasing foreigners will not put more pressure on their salary.

 

[cscs3]

-
-
-

Remember during Election 2011, PM LEE and his PAP promised the people they will control the inflow of foreigners, control HDB prices and review singaporean income.

Now 7 months after they won the election, they are going back their words and act as if nothing happened, now hinting they have to open the gates to allow more foreigners to come in once more.

Election 2016 they are going to give empty promises again.
Are the 60.1% so happy to have such a government who never keep promises?






--------------

Singapore PM: Economy Is Visibly Slowing Down

Singapore's economy is visibly slowing down and will continue to do so into the first half of 2012, as global economic conditions get tough, Prime Minister Lee Hsien Loong said Wednesday.

"We are now in a period where incomes will be under pressure at the low-end. I think even in the middle, white-collar workers will also be coming under pressure," Lee told CNBC.

On a quarter-on-quarter annualized basis, Singapore's economy grew 1.3 percent over July-September, after contracting 6.3 percent in the previous quarter, according Ministry of Trade and Industry.

Annual growth is expected to slow to around 5 percent in 2011, after a record 14.5 percent rise in 2010, the Monetary Authority of Singapore said late October.

"There will be uncertainties because the (economic) cycles are shorter, things go up, things go down," PM Lee said.

For the economy to continue to grow at a strong pace, Lee said Singapore needs "more workers, more skills, more talent."

Foreigners account for nearly one-third of the country's 5.18 million population, according to the Department of Statistics' latest data.

"The more you tighten the inflow, the slower growth is going to be and that's something Singaporeans will have to understand," he added.

source:
http://sg.finance.yahoo.com/news/Singapore-PM-Economy-Is-cnbcwp-2922173667.html?x=0

You should be more worry if you can still keep you job. Once house price crash, may is going to loss their job. You cannot expect the price to come down like over next days or weeks.

Same goes to thise FT issue. Who is going to take over their job? Do not really think Singaporean is capable?

 

[upslorry]

You should be more worry if you can still keep you job. Once house price crash, may is going to loss their job. You cannot expect the price to come down like over next days or weeks.

Same goes to thise FT issue. Who is going to take over their job? Do not really think Singaporean is capable?

I wasnt even talking about chasing out the foreigners. I was talking about STOPPING the inflow.

By what you say, that means we should let the PAP open the gates to let more foreigners come in, like what PM LEE said above. How absurd. The inflow of more foreigners only take away local's job opportunities,.

 

[alvinaloy]

So let growth be slow lah. Why need to have fast fast growth? Grow grow grow, in the end will reach saturation point one mah. Want to reach that saturation point so fast ah? Enjoy the journey, not the destination.

 

[Inix]

I don't think anyone wants growth that's breakneck speed. What the country need is sustainable, inclusive growth. Not growth that's due to mass importing of foreigners.

 

[LiquidShaDow]

I don't think anyone wants growth that's breakneck speed. What the country need is sustainable, inclusive growth. Not growth that's due to mass importing of foreigners.

They do. So that they can acumulate their fat bonuses at breakneck speeds as well. They are probably aware that there isn't much time and space for the GDP tied performance to continue performing, so here's the squeezing of every ounce of juice they can get before the fruit dries up completely.

 

[My Little Diary 88]

Perhaps PM Lee need a new group of advisers.

 

[StarSeeker]

I don't think anyone wants growth that's breakneck speed. What the country need is sustainable, inclusive growth. Not growth that's due to mass importing of foreigners.

Not if your bonus is link to GDP!

 

[kohpapa]

PM LEE: The more you tighten the inflow (of foreigners), the slower growth is going to be

life sciences industry...elites start to leave..no prosects...f&b entertainment and casinos - growth sustainable..manufacturing - up and down - not sustainable..sports - FT didn't win World medals - potential growth...education - preschool stresses on toddlers to perform - potential growth...got jobs for all...not sustainable...

PM Lee...talk with actions..what kind of jobs now..more casino/IRs?..sports hubs need athletes and pros to build..Tigers Woods to become citizen loh?..give PRs to FTs who are toddlers since low birth already?..and since expected world economy to shrink in 2012 - cheap time to start infrastructure projects with cheapest labour like in previous "recessions"...every citizen should have LRT/MRT/bicycle track in front of their homes...property price must go up...so cpf locked up how long long...tell us lah...statistically also can, non-transparent orthodox method also can, but don't use face during world conference/seminar say this quote that...other countries thot we "desparate" for their citizens to flood here with open arms..so if recession coming...current jobs sustainable or not?

 

[cancer81]

Let him do whatever he want lah... 5 years down the road, he will loose another GRC if he's still being so stubborn

by the time the opposition replaces the PAP as government it would have taken more than 20 years...

one GRC or a few MP seats at a time is too slow if you want save the country....

rapid change or not depends on deep into the fire the people feel. The way ETR, TOC and other sites put it. WE ARE WAAAY DEEP INTO THE FIRE!!!

 

[My Little Diary 88]

by the time the opposition replaces the PAP as government it would have taken more than 20 years...

one GRC or a few MP seats at a time is too slow if you want save the country....

rapid change or not depends on deep into the fire the people feel. The way ETR, TOC and other sites put it. WE ARE WAAAY DEEP INTO THE FIRE!!!

How can we be way deep into the fire at this moment unless you are referring to the way the PAP has entrenched all local singaporeans?

It need not take 20 years for an alternative to emerge. All it takes is another 5 years if the PAP continues the way it did before the elections.

Frankly the country is already saved once the WP won Aljunid. It is a good thing that WP is in Parliament today - good for local singaporeans, bad for PAP supporters.

 

[Mancunian2]

Let him do whatever he want lah... 5 years down the road, he will loose another GRC if he's still being so stubborn

at the rate of one GRC every 5 years, he has enough GRCs to last his lifetime. Literally.

 

[cancer81]

at the rate of one GRC every 5 years, he has enough GRCs to last his lifetime. Literally.

at last another person who understands what I mean....

without hurting the PAP in most meaningful way (IE, losing actual seats and shaving their majority). The lesson is never hard enough to be learnt.

Winning percentages, lost of votes, lower vote count. All is political BS. Whoever came up with the idea, they cannot win too much needs to man up and accept that they need to lose more seats to buck up....

 

[Carnage]

Slow growth than slow growth lo.

5% is already not bad, I think Japan can't even manage half of that this year.

And why must he always think of increasing working population just to increase GDP?