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CB Goh Meng Seng want to do away $40k grants for young couples once he is elected!

Ilovelamb

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Loyal
SINGAPORE: Housing, income inequality, the Internal Security Act (ISA) and National Service (NS) issues were the order of the day at a political forum where a number of possible opposition election candidates aired their views.

The four topics dominated the session held Thursday night and organised by socio-political website The Online Citizen, which was broadly divided into economic and social policies, civil liberties and political topics.

Referring to a population increase brought about by immigration, Worker's Party's Gerald Giam said: "An immediate solution is to increase supply of new HDB flats to reduce pressure on demand".

"We believe that HDB flats are affordable ... only for those stretching out loans for 30 years. But that is way too long to be paying off a housing loan. Perhaps it should be reduced to 20 years such that it is the benchmark for affordability," he said.

Potong Pasir MP Chiam See Tong from the Singapore People's Party also weighed in on the housing issue, and claimed that the ruling People's Action Party (PAP) was "losing touch with the people".

Singapore Democratic Party's Chee Soon Juan -- who said the opposition should engage the media more -- felt there should be greater transparency in terms of the labour and land costs which go into the building of HDB flats.

To further tackle housing affordability issues, Mr Giam also suggested prices of new HDB flats be pegged to the median income of Singaporeans, instead of the current policy of being pegged to surrounding resale flat prices.

A more radical suggestion from National Solidarity Party secretary-general Goh Meng Seng was to do away with grants for young couples to buy resale flats.
:oIo::oIo::oIo::oIo:
"It's actually not a good idea because when you pump in money, the demand goes up and prices (go) higher ... It's distorting the market, which is supposed to be a free market," said Mr Goh, who added Singaporeans should discard the idea of public housing as an investment.

On tackling the problem of rising income inequality, Mr Giam suggested increasing the Workfare supplement for low-wage workers, which he concurred is a good policy to mitigate the plight of the poor.

"But if you look at the numbers, a typical person on Workfare only gets about S$80 more a month, hardly enough to sustain a decent lifestyle for someone that's not earning enough," he said.

When asked by a member of the floor about the possibility of doing away with NS, all the panellists disagreed with the suggestion - with the exception of Reform Party secretary-general Kenneth Jeyaretnam, who felt that two years was too long.

"We would like to reduce NS to one year and review it later on and see if it can be shortened further," he said, using the example of Taiwan, "with their imminent threat of invasion" and still able to reduce it to six months.

On the issue of the ISA, the panellists were unanimous: Abolish it, although both WP's Mr Giam and RP's Mr Jeyaretnam said a fundamental human right of not being detained without trial should be balanced with the real need to deal with terrorism risks.

Mr Chiam described the ISA as "very dangerous and arbitrary".

Mr Giam suggested having a dedicated anti-terrorism taskforce that allows a certain form of preventive detention but with necessary checks and balances to ensure those detained have legal access and be released in the absence of evidence.

The sixth panellist at the forum -- which was attended by about 350 people -- was Socialist Front's Chia Ti Lik.

There was no representative from the PAP which, according to the organisers, was also invited.
 

Ilovelamb

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Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

GMS make a huge profit from his resales flat and when he not eligible for the grants he want to do away! :oIo::oIo::oIo:
 

Forvendet

Alfrescian
Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

Goh Meng Seng is mad.
 

wahlaneh

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Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

wahlaneh...
$40K he also want to swallow inside his pocket ah?
opps all same same one lah.
before even start campaigning fox tail come out liao.:biggrin:
 

Frankiestine

Alfrescian
Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

One thing for sure, he sure ain't going to get any young and soon to be married votes.
 

johnny333

Alfrescian (Inf)
Asset
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

Curious about this grant. Do PRs & new citizens qualify for the grant :confused:

What is to prevent them from running away after they get this grant?
 

Tristan

Alfrescian
Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

"It's actually not a good idea because when you pump in money, the demand goes up and prices (go) higher ... It's distorting the market, which is supposed to be a free market," said Mr Goh, who added Singaporeans should discard the idea of public housing as an investment.

GMS only thinks of $$$, and not about giving people a headstart. God help us all if this farker was PM. I'll be the first to migrate.
 

manokie

Alfrescian
Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

this is political suicide really

:(
 

Tristan

Alfrescian
Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

this is political suicide really

:(

He already committed suicide many times. Wonder how is he going to do it the next time. Probably will announce that he will move for a bill to let out all prisoners if he was elected into parliament. Faker really does remind me of Harbans Singh.
 

knightriderz

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Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

He is insane! WTF 30k housing grant means 1 year's salary for e average Singaporean! Heartless prick
 

Dreamer1

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Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

<"It's actually not a good idea because when you pump in money, the demand goes up and prices (go) higher ... It's distorting the market, which is supposed to be a free market," said Mr Goh, who added Singaporeans should discard the idea of public housing as an investment. >

GMS is no politician,he knows not the motto of every good politican : plaiying to the gallery,especially during elections time!

Even re·cal·ci·trant Dr Chee is making a determined effort to amend his past overly righteous noises.

This is a guy who thinks he is like MM LKY in real time action!

This is a guy who is trying to learn to laugh at himself but still the same guy who is overly insistent on his own proud way!
 

Forvendet

Alfrescian
Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

He already committed suicide many times. Wonder how is he going to do it the next time. Probably will announce that he will move for a bill to let out all prisoners if he was elected into parliament. Faker really does remind me of Harbans Singh.

This madman must be stopped! He can laugh at himself for his own suicidal stunts all he wants. But to the serious public, he's not funny. He's just a pathetic lunatic. Should arrest him as enemy of the public and lock him up in IMH with straitsjacket, iron balls and chains. Don't keep him in a padded cell. Keep him in cement walled cells. He can bang his head on the wall all he wants. :mad:
 

Glaringly

Alfrescian (InfP) [Comp]
Generous Asset
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

Looks like most of you have swallowed PAP bullshit of

Grants, Workfare, Rebates, Election Goodies etc...

KNN, don't be a dumb Asshole... These are all there to hide the escalating cost and PAP insatiable greed.

:mad:
 

Forvendet

Alfrescian
Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

Looks like most of you have swallowed PAP bullshit of

Grants, Workfare, Rebates, Election Goodies etc...

KNN, don't be a dumb Asshole... This are all there to hide the escalating cost and PAP insatiable greed.

:mad:

Grants don't decrease flat prices, they relieve burdens for buyers of flats with prices already increased.

Workfare don't decrease wages, they supplement the wages that are already very low and can't increase anyway.

Rebates don't increase bills, they relieve burdens for bills that are already very high and can't decrease anyway.

Election goodies are general rebates for citizens, its your money, why not take it?

Can still vote for opposition anyway, but please not manaics like CTL or mandmen like GMS.

Without all the above, PAP is still greedy anyway.
 

wahlaneh

Alfrescian
Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

Looks like most of you have swallowed PAP bullshit of

Grants, Workfare, Rebates, Election Goodies etc...

KNN, don't be a dumb Asshole... These are all there to hide the escalating cost and PAP insatiable greed.

:mad:

wahlaneh...
have u taken advantage of all those goodies?:confused:
during recession time govt got gib u workfare bonus n gst rebate package or not?:confused:
 

Windsor

Alfrescian (Inf)
Asset
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

I agree that $40K is there in place with the reduced cost of housing and a government that places a higher priority on first time buyers plus financial assistance in other forms will cover the grants. The present system I am sure all agree is untenable as these young people need to set up home. Being unaffordable and pay for the rest of your life for "cheap" housing has a negative effect on families and untold miseries for many.

However, like being unable to see the trees because of the forest, the prices of HDB is too high, period. What is supposed to be affordable housing has become a millstone on most Singaporeans. It is time to take back the country from greedy landlords.

Looks like most of you have swallowed PAP bullshit of

Grants, Workfare, Rebates, Election Goodies etc...

KNN, don't be a dumb Asshole... These are all there to hide the escalating cost and PAP insatiable greed.

:mad:
 

cooleo

Alfrescian
Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

GMS ..... :oIo::oIo::oIo::oIo::oIo::oIo::oIo::oIo::oIo::oIo::oIo:
 

jixiaolan

Alfrescian
Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

A more radical suggestion from National Solidarity Party secretary-general Goh Meng Seng was to do away with grants for young couples to buy resale flats.
:oIo::oIo::oIo::oIo:
"It's actually not a good idea because when you pump in money, the demand goes up and prices (go) higher ... It's distorting the market, which is supposed to be a free market," said Mr Goh, who added Singaporeans should discard the idea of public housing as an investment.

By dishing out substantial grant of up to $80,000 (SC family grant + additional housing grant), these grant money distort how a free market should work esp. when the market demand is high becos the grant aka free money will fuel the market price beyond affordable level.

The grant of up to $80,000 makes the first time buyer perceive that their intended purchase is affordable even though they may be not. In short, first time buyers are given extra "incentive" when the policy makers increase the grant quantum to enter the resale market. Thus, distorting the free market mechanism. For example, can we see the price of a 1 room flat fall below $80k? Quite unlikely even in a deep recession becos there is a $80,000 buffer. That is problem No 1.

Problem No 2 is as we all know by now, HDB BTO is pegged against the resale market price. Hence, the grant money not only distort the resale market but also indirectly cause the BTO price to escalate.

Now, we need to ask ourself why the government kept increasing the housing grant. To make HDB more affordable as claimed by Mr Mah or is it becos that HDB is no longer affordable to many of our fellow Singaporeans.

That may explain why even families with $5,000 household income are receiving additional housing grant on top of the usual $30k/40k SC housing grant.

I truly admire Mr Goh for being so daring to suggest the removal of the housing grant even though he will most likely face backlash from the voters. Personally, I feel the right thing a politician should do is to do the right thing and not what is going to be popular with the electorate. Even when that may cost them to lose some votes, so be it.

However, there is one big problem with GMS. He failed to elaborate and explain in details which is a must especially when implementing unpopular policy changes.
 
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Cruxx

Alfrescian
Loyal
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

GMS gives too much credit to Sinkie sheep. He actually believes that Sinkie sheep are capable of grasping basic economics. :rolleyes:
 

Ramseth

Alfrescian (Inf)
Asset
Re: CB Goh Meng Seng want to do away $40k grants for young couples once he is elected

I truly admire Mr Goh for being so daring to suggest the removal of the housing grant even though he will most likely face backlash from the voters. Personally, I feel the right thing a politician should do is to do the right thing and not what is going to be popular with the electorate. Even when that may cost them to lose some votes, so be it.

In an electoral contest, the right thing to do is to be popular with the voters. Otherwise go join a academic research think tank or something. In any case, the grant not only helps eligible buyer to afford buying, it'll also helps in case of a market downturn. That is, if someone bought a flat for S$200,000 with a S$40,000 grant, he's cushioned to up to S$40,000 in price falling in a case of a market downturn. Those who can afford full market prices and are ineligible for grants have to buy and bear their own risks.

Although the PAP treasury uses a consolidated account accounting, if one looks carefully, one can realise that the grant is not free money. It's at least partially transfer money to balance the market. Transfer from where? The levies that are imposed on second time buyers on new flats. This redistributes profits from profit-makers to those in need. Isn't that what the socialist model of redistribution of wealth that GMS was advocating?

However, there is one big problem with GMS. He failed to elaborate and explain in details which is a must especially when implementing unpopular policy changes.

Exactly, this type of detailed high economics should be reserved for Parliament debating if he actually gets in. But he has to get in first. To start with, stop confusing or annoying voters into losing confidence.
 
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