Or so it seems. That's another ivory tower view from PAP.
Top voter issues in my opinion are standard/cost of living and immigration.
Yes economic growth is important but we all know that with this should come real wage growth or wages adjusted for inflation.
MAS reported that wages grew 5.6% for all of 2010.
Our inflation rate for most of Q1 this year is about 5%.
Again, due to the lack of transparency, we don't know the actual wage growth for Singaporeans, excluding PRs and foreigners.
And as you know, alot of these foreign PMET "talents" are actually paid quite well because there are qualifying salary thresholds for different employment passes and these thresholds have gone up.
So actual wage growth could very well be skewed higher.
Another unique characteristic of the Singapore growth story is that when GDP is strong and more jobs are created, more foreigners are hired into our shores because of our open immigration policy.
My company actually got an EP approved for a generic job position in about one hour!
So the actual net effect of economy led jobs growth on local Singaporeans could be minimal.
Therefore, wage growth should not be the only yardstick that measures standard of living. With prices of food, utilities,education, medical care etc relentlessly going up, many voters are left wondering when this "Swiss standard of living" mooted by SM Goh 20 years ago will arrive.
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