At a community event held at Teck Ghee CC, Prime Minister Lee Hsien Loong reiterated his call to Singaporeans to have more babies.
“Last year, we had a bumper year. (I hope) parents (can) help bump this figure up further.”
In 2015, Singapore’s birth rate hit a 13-year-high at 33,793, but still has the lowest fertility in the world at 1.24. Young adult Singaporeans cite unsustainable wages as the major factor when it comes to family building as housing prices and living costs outpace the growth of wages.
Singapore has also the 4th priciest housing in the world, and although most Singaporeans purchase only HDB public housing, they continue to be laden with a 25 year mortgage debt. Like their parents, young Singaporean couples will not be able to retire at 55 as most of their CPF retirement money are spent on housing. Retirement is also a major concern in Singapore as more elderly Singaporeans are working into their 70s and 80s due to the inadequacies of the CPF.
Birth rate in Singapore has always been the lowest in the world due to family-unfriendly environment and unsupportive employers. Working hours is the longest in the world at 2389.4.
Childcare and infant-care businesses are undertaken by PAP-affiliated kindergartens making undisclosed record profits from working parents every month. Singaporean parents are also held political hostage by generous childcare subsidies after the government jacked up the prices, and as a result, they tend to be pro-ruling party.