Cracks over PAP’s growth model starting to show as economy slows

By: Goh Meng Seng

The year ahead is going to be very challenging for many Singaporeans when the economy will slow down, some of us will lose our jobs while the Quick GDP Growth Formula of PAP will just fall apart. On the other hand we may face a weaken Singapore dollars which will create imported inflation for Singapore.

It is going to be one of the toughest year ahead. This will be even more so when PAP‘s failure in diplomacy will bring even more hardship to the challenging situation we will be facing.

I hope people will start to ponder about why are we paying exorbitantly high salary to Ministers who have proven to be mediocre at best and are not able to perform exceptionally better than many other countries.

We should also ponder over the flawed FT policy which has resulted in job displacement of Singaporeans instead of creation of jobs for Singaporeans as boasted by PAP.

We should even be more wary if there is any attempt to build a third or fourth casinos by PAP in the name of bringing economic prosperity because the current ones have proven to bring only short term economic boost but instead created more long term social issues of problem gambling!

There are fundamental problems with our economy which are mostly created by PAP. The cost of living and doing business has skyrocketed over the years due to various systemic issues created by PAP. High rental cost and indirect taxes on business are killing SMEs and creating an extraordinary barrier towards new startups and cultivation of entrepreneurship.

Unemployment and underemployment will rise if the current system does not go through a total revamp soon.

It is time we look at long term strategic economic development instead of indulging in quick fixes that may create more social problems than the benefits they bring.

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