In a public forum conducted at the Asia Pacific Convention 2015 on July 9, Law Minister K Shanmugam said that rich people living in Sentosa and private housing make Singaporeans envy:

“It is very difficult to explain politically, because politically all the Oppositions have a say, you see this houses they are sky high, you see the foreigners caveating in Sentosa and so on, it drives up the “envy” factor: they have got it, I don’t have it.”

Photo of K Shanmugam from CNA video
Photo of K Shanmugam from CNA video

K Shanmugam also debunk recent news reports quoting Barclays that the cooling measures will only be removed after the General Elections:

“Somebody just told me they all hoping that after the elections they (cooling measures) will be taken out. I don’t know why people link it to the election, you know these cooling measures came in a long time ago. They either make sense or they don’t make sense and election by itself is not a factor. What is the state of the economy, the state of supply and demand, the state of the prices and the linkage to wages.”

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