ST: Singapore's work pass tightening may push up business costs

[May Day]

those working in these MNC pay income taxes, spend for their living on food, transport, housing etc... Rents are not cheap and benefits the singaporeans who rent their house and earn a side income.

MNC rent the properties and facilities pay rent.

Also there are job quotas for companies and they cannot any how employ foreigners

on the otherside, if the MNCs are not wooed here, do you think the local SMEs can bring a major change?

Many of the local companies are in to constuction and labour intensive sectors and inturn emply more foreign workers..

This is definitely one of the reasons why property prices, both private and public had been shooting up in Singapore beyond the reach of the next generation of Singaporeans.

 

[kandan]

This is definitely one of the reasons why property prices, both private and public had been shooting up in Singapore beyond the reach of the next generation of Singaporeans.

It is a two edged sword...
Think if the companies are not wooed here.. not much economic activity..

The property prices will tank,

The SGD will drop and lose value..

Sgpeans will end up working in other countries, just like how other country ppl come to work here looking for even the meagre money in construction or elsewhere...

 

[hardwriter]

Test balloons lai liao!!

 

[Moowoow]

Business costs up due to threshold salary up for wp ep etc, so foreign Co has to pay more for their hired imported own kind talents, in the process squeezing the local wages

 

[May Day]

It is a two edged sword...
Think if the companies are not wooed here.. not much economic activity..

The property prices will tank,

The SGD will drop and lose value..

Sgpeans will end up working in other countries, just like how other country ppl come to work here looking for even the meagre money in construction or elsewhere...

So the solution should be to woo the MNCs to come to Singapore and hire Singaporeans instead of taking the tax incentives to hire and create jobs for a majority of their own foreigners.

What good does it do the Singapore economy when company takes SINGAPORE's grant incentives or tax discounts but solve the unemployment problems for other countries like India?

 

[buaysai干]

Got people believe their shits?

 

[kandan]

So the solution should be to woo the MNCs to come to Singapore and hire Singaporeans instead of taking the tax incentives to hire and create jobs for a majority of their own foreigners.

What good does it do the Singapore economy when company takes SINGAPORE's grant incentives or tax discounts but solve the unemployment problems for other countries like India?

How do you know all the Singaporeans are capable to do the job?
It is simply a small proportion of the population who are inclined to tech and science and whatnot...
You stand upside also you cannot create more scientists and engineers beyond say 20% of graduating students..

Large countries because of of their huge population tend to produce more engineers and techs compared to Singapore..

So what should Singapore do?..

scenario 1:Either donot allow companies to start business here as local talent pool is limited

or

Scenario 2: allow business and import workforce from anywhere together with local core..

As a sensible gov I would prefer scenario 2.. atleast I get taxes (used to benefit all Singaporeans) and the workforce spends a bulk of the income in Singapore for their day to day living..

 

[May Day]

It is a two edged sword...
Think if the companies are not wooed here.. not much economic activity..

The property prices will tank,

The SGD will drop and lose value..

Sgpeans will end up working in other countries, just like how other country ppl come to work here looking for even the meagre money in construction or elsewhere...

On your point of property prices, it should be left to the economic fundamentals.

When Singaporeans are properly employed, have the ability to buy and finance their HDBs and private properties, the market prices will go up.

But now in Singapore, it's the foreigners who are getting the high salary and good paying jobs in Singapore.

But they either remit the money earned in Singapore out back to their own countries and/or buy property in Singapore to fund and sell for a profit for their retirement overseas.

Either way, all these money created in Singapore are ultimately taken out of the Singapore economy.

So yes, prices in Singapore from property to food do increase, but the wealth created are leaked out of the Singapore economy when FTs earning the high income and created wealth for themselves bring the money out of the country.

Other countries know it and created high barriers for foreigners to buy or hold their properties.

 

[Multiversal]

really dont understand why they keep on target FWs when they should be targetting those FTs/foreign PMETs/foreign expats/ PRs/EPs

The oppies like to point at FWs from India and say "See! CECA!"

If not they will purposely show a photo of a group of FTs from India coming out for lunch, and say "See? CECA!"

That is the antic they stoop so low to.

 

[kandan]

really dont understand why they keep on target FWs when they should be targetting those FTs/foreign PMETs/foreign expats/ PRs/EPs

Do you have any clue of economics and labour supply?? Also you are too selfish of yourself.

You are only worried about yourself that EP and PR are short charging your income..

Think also of the so many low waged singaporeans who are short charged by the "cheap" foreign workers..

Either you have a minimum wage for all jobs and push cost of everything you consume or
you have foreginers in all sectors.. or
dont have foreigners in any of the sector..

The choices are really difficult...

 

[stillgottheblues]

Singapore economy had been feeding on grass for a decade. Not sure how long can it sustain itself without getting hurt.

 

[May Day]

How do you know all the Singaporeans are capable to do the job?
It is simply a small proportion of the population who are inclined to tech and science and whatnot...
You stand upside also you cannot create more scientists and engineers beyond say 20% of graduating students..

Large countries because of of their huge population tend to produce more engineers and techs compared to Singapore..

So what should Singapore do?..

scenario 1:Either donot allow companies to start business here as local talent pool is limited

or

Scenario 2: allow business and import workforce from anywhere together with local core..

As a sensible gov I would prefer scenario 2.. atleast I get taxes (used to benefit all Singaporeans) and the workforce spends a bulk of the income in Singapore for their day to day living..

Then why is it that thousands of dubious certificates like Mr Ramesh Errawalli's Upton certification are accepted and they get to work in MNCs banks like JP Morgan that benefited from generous tax incentives given by the Singapore government.

For that matter, tens and hundreds of thousands of FTs have lesser quality qualifications than Singaporeans' NUS, SMU, NTU? Why do FTs get those good jobs ahead of our own better qualified university grads?

And why these FTs get all the permanent long term and on the job training while Singaporeans get only short term contract jobs and six month traineeships?

You mean all these years that Mr Lee Kuan Yew took to build up tertiary education in Singapore produced lesser qualified and capable grads than Uptrons and other dubious certificates?

 

[blurblur123]

When things become too expensive until ppl cannot afford…

one load of bread

 

[averagebean]

No matter what, Sinkies will always bear the brunt of PAP's policies.

 

[kandan]

Then why is it that thousands of dubious certificates like Mr Ramesh Errawalli's Upton certification are accepted and they get to work in MNCs banks like JP Morgan that benefited from generous tax incentives given by the Singapore government.

For that matter, tens and hundreds of thousands of FTs have lesser quality qualifications than Singaporeans' NUS, SMU, NTU? Why do FTs get those good jobs ahead of our own better qualified university grads?

You mean all these years that Mr Lee Kuan Yew took to build up tertiary education in Singapore produced lesser qualified and capable grads than Uptrons and other dubious certificates?

How do you know?

I think the company should know better of a candidate and his performance

Supposing you run a company, will you not be able to recognise a person has the capability or not within a few days??

why are the external parties tend to judge some company's internal process.. If the company kept on taking "non performing" people, ultimately the company's quality process will suffer and bellyup..

I didnot come to know of a well qualified NUS, NTU, SMU grad being jobless... I only hear the gossips in this chats forums with no real data of qualified singaporeans who are unemplyed or underemployed...

 

[May Day]

Do you have any clue of economics and labour supply?? Also you are too selfish of yourself.

You are only worried about yourself that EP and PR are short charging your income..

Think also of the so many low waged singaporeans who are short charged by the "cheap" foreign workers..

Either you have a minimum wage for all jobs and push cost of everything you consume or
you have foreginers in all sectors.. or
dont have foreigners in any of the sector..

The choices are really difficult...

So the twin correct solution to Singapore problem is to automate the lower wage jobs like construction and F&B and restrict FTs from getting EPs and SPs easily to do higher wage jobs.

Right now, the government is giving out EPs and SPs out to FTs too easily denying Singaporeans of those good jobs while restricting the lower end passes to push up cost of living for Singaporeans.

 

[tank_t]

Because the covid situation is getting out of hand now?

Too few death already. If endemic has to be like flu, at least few thousands will die. If the death numbers is going to be norm.. we are still very much within the number range.

 

[May Day]

Too few death already. If endemic has to be like flu, at least few thousands will die. If the death numbers is going to be norm.. we are still very much within the number range.

If the numbers are within tolerance, why are we having so many new restrictions being imposed every new week?

Some of my relatives working have to go from swab tests from once every 28 days to 14 days and some even ned to do it every 7 days now. Very disruptive to their work and lives.

 

[Ultimo_Urien]

It is a two edged sword...
Think if the companies are not wooed here.. not much economic activity..

The property prices will tank,

The SGD will drop and lose value..

Sgpeans will end up working in other countries, just like how other country ppl come to work here looking for even the meagre money in construction or elsewhere...

So dependent on foreign forces eventually the inevitable might happen one fine day lol.

 

[May Day]

So dependent on foreign forces eventually the inevitable might happen one fine day lol.

I believe the balance has already been tilted with FTs dominating major sectors of the Singapore economy and occupying all the senior and best paying positions.

These FTs can easily gang up and hold the Singapore's economy ransom and start making demands like we have seen recently.