Govt policies have helped mitigate living costs
The Government has been working hard to keep the cost of living affordable for Singaporeans, be it in the areas of food, transport, housing or healthcare, said Prime Minister Lee Hsien Loong. Photo: Lee Hsien Loong/Twitter
SINGAPORE — The Government has worked hard to keep the cost of living affordable for Singaporeans, by helping to defray the costs of food, transport, housing and healthcare, said Prime Minister Lee Hsien Loong.
Recounting how cost of living was cited as a concern by a listener who phoned in during one of his radio chats on Capital 95.8FM, Mr Lee said in the Mandarin segment of his National Day Rally that measures have been rolled out to keep basic necessities affordable.
For one, the Government has encouraged businesses to offer affordable food options. NTUC FairPrice, for example, offers a wide range of options, from premium products to house brands. The Government is also building more hawker centres for those who eat out, and trying out different operating models in an effort to keep costs affordable.
On a visit to the new Ci Yuan hawker centre in Ang Mo Kio-Hougang, which operates under one of the new models, Mr Lee said he observed the centre was filled with people.
“Some stalls have long queues, so the food must be good and affordable,” he said. “I’m happy that Ang Mo Kio residents can benefit.”
To keep public transport affordable, concession schemes have been put in place, which are now used by almost 1.6 million commuters. Earlier this year, the Senior Public Transport Vouchers programme was rolled out for those above 60 years old.
Mr Lee said: “Over the last 10 years, wage increases have outpaced transport fare increases. Most commuters have not paid more for public transport.”
Healthcare costs have also been defrayed, through schemes such as the Pioneer Generation Package and MediShield Life. “Pioneers say, ‘Last time I paid tens of dollars to see a doctor; now, only a few dollars. Sometimes, I get to see my dentist for free,’” said the Prime Minister.
The Government has also stabilised housing prices, with measures to cool the property market and increasing supply. Grants and subsidies have also “enabled almost every family to own” a Housing and Development Board flat, Mr Lee said. And plans are afoot to help those earning less than S$1,000 to own a flat.
Nevertheless, even with the Government’s efforts to mitigate basic rising living expenses, Singaporeans are spending more, in tandem with the improvement in living standards and increased expectations.
“As Singapore develops, lifestyles change, spending changes and expectations rise,” Mr Lee said.
Today, about seven in 10 households own air-conditioning, compared with one in 10 in the past, resulting in higher household utility bills.
The proliferation of smartphone ownership has also given rise to sizeable monthly telecoms bills for families of four or five. Each family member may be paying more than S$20 in phone bills now, compared with about S$7 when families shared one telephone in the past.
“Everyone hopes to live better and more comfortably, and this is reasonable. But this means expenses will increase and the burden will be heavier ... Even with good policies, we can’t resolve the entire problem. I hope you understand that,” said Mr Lee.
