In a speech at the National Library today (July 16), Prime Minister Lee Hsien Loong said that he is worried about young people worrying about their future especially when they are so much better-resourced today:
“While young people he meets sometimes tell him that they are anxious about their future, they have so much more than their parents and grandparents did.
The young today have more resources, are more educated, and have more opportunities to achieve something special for themselves and for Singapore.”
Singapore’s falling standard of living and salaries are impacting young Singaporeans more than their parents’ generation as housing prices are expensive and the cost of living is so high that more Singaporeans are in debt and barely breaking even for their monthly expenses. As more elderly Singaporeans are being forced out of their retirement to work, younger Singaporeans see themselves in Singaporean seniors and hence are naturally bleak about their future and retirement. The problems are compounded with the Prime Minister’s extremist liberal immigration policies which target to increase the Singapore population to 6.9 million and beyond.