A biannual cost of living survey conducted by consultancy firm ECA International revealed that Singapore has become more expensive than ever. Singapore’s rank “improved” three places to 21st most expensive in the world this year compared to 24th six months ago. For Asia Pacific, Singapore continues to rank as the 9th most expensive as a city.
The cost of living problem is however more acute for Singapore compared to other cities as the people of other countries have the option to resettle in cheaper cities in the same country. For Singaporeans, there is no way to escape exorbitant costs unless they emigrate.
Singapore’s cost of living is largely propped up by government taxes, which have seen a round of increases this year and more to come in 2018. The Singapore dictatorship appears to be short of cash to fund infrastructure upgrades for the Prime Minister’s ambitious plan for a 6.9 million population.
Earlier in July, water price was increased 30% to pay for ramp up on water desalination facilities and capabilities in preparation for a larger population intake. Just last month, the dictatorship is also building it’s 5th airport for the small island state, and traveller taxes was increased to pay for Terminal 5.
In recent months, the state media have been churning waves of propaganda material for public consumption preparing for a GST hike. In usual propaganda fashion, the poor and low income Singaporeans were made scapegoats for the GST hike proposal. According to the Minister Indranee Rajah, a GST hike will help the poor.
The government also claimed that a GST hike is unavoidable as healthcare costs and retirement needs are increasing. However, both healthcare and retirement are self-funded by the people’s CPF account. Despite public calls to justify the GST hike, dictator Prime Minister and his crony ministers refused to reveal the accounting books.