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Coffeeshop Chit Chat - PM: we must accept a inflow of FTs!</TD><TD id=msgunetc noWrap align=right> </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead vAlign=top><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>kojakbt_89 <NOBR></NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>7:36 pm </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 1) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>32551.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>PM Lee urged Singaporeans to understand need for higher inflow of foreign workers
May 2nd, 2010 |
Author: Your Correspondent
http://www.temasekreview.com/2010/0...nd-need-for-higher-inflow-of-foreign-workers/
During a speech made at a May Day Rally on Saturday, Prime Minister Lee Hsien Loong claimed that ¡°more than 100,000¡å new jobs will be created if the Singapore economy grows by 7 to 9 percent this year.
It is not known if the majority of these so-called new jobs will go to Singapore citizens or foreigners including PRs.
PM Lee was quick to add that a ¡°higher inflow¡± of foreign workers is ¡°inevitable¡± and ¡°some proportion¡± of the new jobs will go to foreign workers on employment or work passes.
¡°I hope Singaporeans will understand this: If we want the buoyancy and bonuses which go with high growth, then we must accept a temporary inflow of foreign workers,¡± he was quoted as saying in the Straits Times.
That¡¯s hardly good news for Singaporeans who have to face stiff competition for limited jobs with cheaper foreign workers who are often willing to work for long hours under harsh conditions.
In other countries like Australia, New Zealand and Canada, foreigners are strictly employed only in sectors where there is a dearth of local workers.
In addition, all prospective foreign workers have to pass a compulsory basic English proficiency test IELTS before they can even find work there.
There are no such restrictions in Singapore whose ultra-liberal immigration and labor policies make it a magnet for foreigners seeking a better life elsewhere.
There is even a EPEC scheme which enables graduates from selected foreign universities a year to find jobs in Singapore.
According to a recent Wall Street Journal report, the relentless influx of foreigners has depressed the wages of ordinary Singaporeans, increased the cost of living, decreased labor productivity and led to an overall decline in the standards of living.
A certain percentage of the PAP ministers¡¯ multi-million dollar salary package is pegged to GDP growth ¨C the higher the growth figures, the more money they bring home.
GDP growth can be artificially inflated by importing large number of cheap foreign workers to bring labor costs down, thereby increasing the output in the process.
Prime Minister Lee earns over $3 million dollars a year, or more than 5 times the annual salary of U.S. President Barack Obama. He is expected to get a hefty 8.8 percent pay rise this year on the back of the improving economy.
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http://www.temasekreview.com/2010/0...nd-need-for-higher-inflow-of-foreign-workers/
During a speech made at a May Day Rally on Saturday, Prime Minister Lee Hsien Loong claimed that ¡°more than 100,000¡å new jobs will be created if the Singapore economy grows by 7 to 9 percent this year.
It is not known if the majority of these so-called new jobs will go to Singapore citizens or foreigners including PRs.
PM Lee was quick to add that a ¡°higher inflow¡± of foreign workers is ¡°inevitable¡± and ¡°some proportion¡± of the new jobs will go to foreign workers on employment or work passes.
¡°I hope Singaporeans will understand this: If we want the buoyancy and bonuses which go with high growth, then we must accept a temporary inflow of foreign workers,¡± he was quoted as saying in the Straits Times.
That¡¯s hardly good news for Singaporeans who have to face stiff competition for limited jobs with cheaper foreign workers who are often willing to work for long hours under harsh conditions.
In other countries like Australia, New Zealand and Canada, foreigners are strictly employed only in sectors where there is a dearth of local workers.
In addition, all prospective foreign workers have to pass a compulsory basic English proficiency test IELTS before they can even find work there.
There are no such restrictions in Singapore whose ultra-liberal immigration and labor policies make it a magnet for foreigners seeking a better life elsewhere.
There is even a EPEC scheme which enables graduates from selected foreign universities a year to find jobs in Singapore.
According to a recent Wall Street Journal report, the relentless influx of foreigners has depressed the wages of ordinary Singaporeans, increased the cost of living, decreased labor productivity and led to an overall decline in the standards of living.
A certain percentage of the PAP ministers¡¯ multi-million dollar salary package is pegged to GDP growth ¨C the higher the growth figures, the more money they bring home.
GDP growth can be artificially inflated by importing large number of cheap foreign workers to bring labor costs down, thereby increasing the output in the process.
Prime Minister Lee earns over $3 million dollars a year, or more than 5 times the annual salary of U.S. President Barack Obama. He is expected to get a hefty 8.8 percent pay rise this year on the back of the improving economy.
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