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Chitchat Why Jamus Lim join Workers' Party ?
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Jamus discusses cost of living issues. 
There was a brief debate (perhaps exchange is more appropriate) on the rising #CostOfLiving in the most recent Parliamentary sitting, in response to a number of questions filed on inflation, and its impact on Singaporeans. Inflation is one of those interesting beasts that, for the vast majority of the time, people choose to ignore. Not that it’s not there; rather, it tends to stay in the background, and while we complain, we generally accept some degree of price rises. If the central bank—in our case, that’s the MAS—is doing its job, inflation will be low and (largely) predictable, and so we kinda factor it into our day-to-day buying and selling decisions (and when we are negotiating our pay raise or complaining about the lack of it).
But when economists stare at inflation data, we tend to think in terms of underlying drivers. If pricing pressure is due to stuff like food or energy spikes resulting from bad weather or geopolitical turmoil (or even tangled supply chains), we don’t freak out as much. Not that they don’t matter. Rather, it’s because we tend to think that market forces will sort such supply-side aberrations out. In the sometimes-obscure language of central bankers, the effects are “transitory.” Often, the best cure for high prices are, well, high prices.
We get a little more worried when prices rise because workers are insisting on wage hikes, because they are facing steadily rising costs of living. Or when households factor higher prices into their budgets in anticipation of what they need to spend. Such demand-led pressures can get entrenched, in a self-reinforcing spiral of rising wages and prices. When that occurs, the final nail in the coffin is that our expectations of inflation itself becomes “unanchored” from traditional targets (usually around 2 percent).
Are we there yet in Singapore? Thankfully, I don’t think so quite yet. Although inflation is high—4% in the latest December report—it is lower when we take out the costs of food and energy (which are usually more volatile). This so-called “core” inflation is running at 2.1 percent in December. This is hot, but only a little more than the 2 percent target most central banks are comfortable with. But the picture isn’t all peaches and roses. As anyone who drives a car or pays for utilities would have observed, energy prices are up sharply (by more than 10%). And while food costs have not risen as quickly compared to a year ago, they have jumped by close to 4% (on an annualized basis) over the past few months.
When asked about this, the government accepted that there was indeed some inflation. But they stressed the more benign side of the story, and said they believed that price increases would eventually come under control. Personally, I think so too, but I do not think this will happen as quickly as economists (and central bankers) would like. That’s why a policy that allows the Sing dollar to appreciate could help absorb some of the impact of inflation.
We also need to think very seriously about the wisdom of a GST increase. The last few times Japan tried it, they experienced a surge in inflation (which, in their case, was actually welcome because they were facing close to zero inflation). For us, a GST hike would not just add fuel to the fire, it could also shock an economy that is only just on a rebound (Japan’s GDP growth likewise stalled when it put up GST). Sectors that will feel GST most directly (like F&B) remain weak.
Perhaps most importantly, people are also feeling the pain now. The #workersparty believes that it is possible to make the numbers work without further increasing a regressive tax like GST, and to instead focus on other progressive sources. These include a wealth tax, additional tiers to property taxation, and adjusting the formula for the interest contribution from our reserves. We should also think more carefully about existing taxes on capital. Ultimately, while we agree that changing demographics mean that our expenditures (especially in healthcare) will increase, we think that a different mix to our revenue sources is both possible and desirable. #makingyourvotecount
Postscript: a commenter shares that core inflation in Singapore excludes not food and energy, but accommodation and transport, which are larger components of most Singaporeans’ spending. This is correct. Nevertheless, the point of core inflation being lower than headline remains, as is the fact that transport and food costs having risen significantly in recent times.
Jamus Lim
26 January at 12:32 ·There was a brief debate (perhaps exchange is more appropriate) on the rising #CostOfLiving in the most recent Parliamentary sitting, in response to a number of questions filed on inflation, and its impact on Singaporeans. Inflation is one of those interesting beasts that, for the vast majority of the time, people choose to ignore. Not that it’s not there; rather, it tends to stay in the background, and while we complain, we generally accept some degree of price rises. If the central bank—in our case, that’s the MAS—is doing its job, inflation will be low and (largely) predictable, and so we kinda factor it into our day-to-day buying and selling decisions (and when we are negotiating our pay raise or complaining about the lack of it).
But when economists stare at inflation data, we tend to think in terms of underlying drivers. If pricing pressure is due to stuff like food or energy spikes resulting from bad weather or geopolitical turmoil (or even tangled supply chains), we don’t freak out as much. Not that they don’t matter. Rather, it’s because we tend to think that market forces will sort such supply-side aberrations out. In the sometimes-obscure language of central bankers, the effects are “transitory.” Often, the best cure for high prices are, well, high prices.
We get a little more worried when prices rise because workers are insisting on wage hikes, because they are facing steadily rising costs of living. Or when households factor higher prices into their budgets in anticipation of what they need to spend. Such demand-led pressures can get entrenched, in a self-reinforcing spiral of rising wages and prices. When that occurs, the final nail in the coffin is that our expectations of inflation itself becomes “unanchored” from traditional targets (usually around 2 percent).
Are we there yet in Singapore? Thankfully, I don’t think so quite yet. Although inflation is high—4% in the latest December report—it is lower when we take out the costs of food and energy (which are usually more volatile). This so-called “core” inflation is running at 2.1 percent in December. This is hot, but only a little more than the 2 percent target most central banks are comfortable with. But the picture isn’t all peaches and roses. As anyone who drives a car or pays for utilities would have observed, energy prices are up sharply (by more than 10%). And while food costs have not risen as quickly compared to a year ago, they have jumped by close to 4% (on an annualized basis) over the past few months.
When asked about this, the government accepted that there was indeed some inflation. But they stressed the more benign side of the story, and said they believed that price increases would eventually come under control. Personally, I think so too, but I do not think this will happen as quickly as economists (and central bankers) would like. That’s why a policy that allows the Sing dollar to appreciate could help absorb some of the impact of inflation.
We also need to think very seriously about the wisdom of a GST increase. The last few times Japan tried it, they experienced a surge in inflation (which, in their case, was actually welcome because they were facing close to zero inflation). For us, a GST hike would not just add fuel to the fire, it could also shock an economy that is only just on a rebound (Japan’s GDP growth likewise stalled when it put up GST). Sectors that will feel GST most directly (like F&B) remain weak.
Perhaps most importantly, people are also feeling the pain now. The #workersparty believes that it is possible to make the numbers work without further increasing a regressive tax like GST, and to instead focus on other progressive sources. These include a wealth tax, additional tiers to property taxation, and adjusting the formula for the interest contribution from our reserves. We should also think more carefully about existing taxes on capital. Ultimately, while we agree that changing demographics mean that our expenditures (especially in healthcare) will increase, we think that a different mix to our revenue sources is both possible and desirable. #makingyourvotecount
Postscript: a commenter shares that core inflation in Singapore excludes not food and energy, but accommodation and transport, which are larger components of most Singaporeans’ spending. This is correct. Nevertheless, the point of core inflation being lower than headline remains, as is the fact that transport and food costs having risen significantly in recent times.
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Jamus is happy to meet Sengkang residents, even if they are not edusave recipients. 
It’s Edusave awards season, and—in addition to my social media feed being flooded with pictures of PAP MPs handing out awards to proud recipients—I’m also receiving a number of email queries about why we aren’t doing the same at #SengkangGRC, especially now that COVID-19 restrictions have been slightly loosened. One of them expressed dismay, saying that their child was looking forward to interacting and taking a photo with their MP, and since the awards were mailed out instead, they have lost that opportunity.
As I explain to my residents, opposition MPs do not, unfortunately, have the pleasure of distributing Edusave awards, which are given out by the grassroots advisers (which are distinct from the elected representatives in non-PAP wards). That said, I also share that—if they’d like—I’d happily write them a signed letter of encouragement that I can distribute to them in an informal mini-ceremony at my weekly meet-the-people session.
Most importantly, please don’t feel that the only way you can meet and take a selfie with your MP is by studying hard and doing well! I’m always available for my residents, Edusave season or not, whether virtually or physically. Just feel free to reach out and touch base. #TeamSengkang
Jamus Lim
14 hrs ·It’s Edusave awards season, and—in addition to my social media feed being flooded with pictures of PAP MPs handing out awards to proud recipients—I’m also receiving a number of email queries about why we aren’t doing the same at #SengkangGRC, especially now that COVID-19 restrictions have been slightly loosened. One of them expressed dismay, saying that their child was looking forward to interacting and taking a photo with their MP, and since the awards were mailed out instead, they have lost that opportunity.
As I explain to my residents, opposition MPs do not, unfortunately, have the pleasure of distributing Edusave awards, which are given out by the grassroots advisers (which are distinct from the elected representatives in non-PAP wards). That said, I also share that—if they’d like—I’d happily write them a signed letter of encouragement that I can distribute to them in an informal mini-ceremony at my weekly meet-the-people session.
Most importantly, please don’t feel that the only way you can meet and take a selfie with your MP is by studying hard and doing well! I’m always available for my residents, Edusave season or not, whether virtually or physically. Just feel free to reach out and touch base. #TeamSengkang
- Joined
- Jul 14, 2008
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- 89,158
- Points
- 113
from msn.com:
Singapore — Workers Party chief Pritam Singh and his Aljunied GRC team gave out the customary mandarin oranges to stallholders, hawkers and residents of the Eunos area over the weekend.
In a Facebook post on Tuesday, Mr Singh said: “This year marked the 10th year the Team Eunos volunteers came together for this event. The team started preparations from 4.30 am, packing oranges and planning the exercise including the set-up of some booths for our Chinese calligraphers who crafted auspicious messages/words for residents to bring home.”
He explained in his post that the bright colour of oranges symbolises gold, with the fruit itself signifying good luck and wealth. Mr Singh added that the entire exercise took about 10 hours to complete.
He said: “While the COVID years have been difficult and tough for many of us, requiring much adjustment and a re-assessment of our priorities, all of us have proved to be resilient and tougher than we imagined, taking on challenges at work and at home.”
He added that he prayed for a “blessed and bountiful” year ahead for all Singaporeans and friends who celebrate Chinese New Year. “And when the going gets tough, as it will for the best of us – always remember that powerful Chinese proverb that will lift you up. 真金不怕火炼 – True gold fears no fire.”
WP team offers calligraphy and oranges to mark Chinese New Year
Singapore — Workers Party chief Pritam Singh and his Aljunied GRC team gave out the customary mandarin oranges to stallholders, hawkers and residents of the Eunos area over the weekend.
In a Facebook post on Tuesday, Mr Singh said: “This year marked the 10th year the Team Eunos volunteers came together for this event. The team started preparations from 4.30 am, packing oranges and planning the exercise including the set-up of some booths for our Chinese calligraphers who crafted auspicious messages/words for residents to bring home.”
He explained in his post that the bright colour of oranges symbolises gold, with the fruit itself signifying good luck and wealth. Mr Singh added that the entire exercise took about 10 hours to complete.
He said: “While the COVID years have been difficult and tough for many of us, requiring much adjustment and a re-assessment of our priorities, all of us have proved to be resilient and tougher than we imagined, taking on challenges at work and at home.”
He added that he prayed for a “blessed and bountiful” year ahead for all Singaporeans and friends who celebrate Chinese New Year. “And when the going gets tough, as it will for the best of us – always remember that powerful Chinese proverb that will lift you up. 真金不怕火炼 – True gold fears no fire.”
- Joined
- Jul 14, 2008
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- 89,158
- Points
- 113
Jamus talks tigers. 
My dearest mother was born in the year of the Tiger. She also raised my sister and me as a typical strict Asian mother would. And like many Singaporean mothers, she worked full-time, fighting to supplement the family income. So in many ways, she’s a Tiger Mom, perhaps thrice over.
Yet the term, often used derisively, often gets short shrift. After all, tigers are regal beasts, the largest and strongest of the great cats (even though the lion is frequently thought to be bigger), and an equal rival in the Chinese zodiac to the typically more well-regarded dragon. My mother certainly embodied the elegance, strength, and tenacity that made her not only a symbol of quiet grit for my sister and myself, but also a respected colleague and supervisor in her professional life.
So this Chinese New Year, I—and the #workersparty—wish everyone a wonderful year of the Tiger, filled with the sort of tigerly traits that we all could use as we pull ourselves out of the difficult year past; 新年快乐、虎虎生威、身体健康(the last, especially in times of COVID, takes on some poignancy, as does the traditional Peranakan wish of panjang panjang umur).
Jamus Lim
10 hrs ·My dearest mother was born in the year of the Tiger. She also raised my sister and me as a typical strict Asian mother would. And like many Singaporean mothers, she worked full-time, fighting to supplement the family income. So in many ways, she’s a Tiger Mom, perhaps thrice over.
Yet the term, often used derisively, often gets short shrift. After all, tigers are regal beasts, the largest and strongest of the great cats (even though the lion is frequently thought to be bigger), and an equal rival in the Chinese zodiac to the typically more well-regarded dragon. My mother certainly embodied the elegance, strength, and tenacity that made her not only a symbol of quiet grit for my sister and myself, but also a respected colleague and supervisor in her professional life.
So this Chinese New Year, I—and the #workersparty—wish everyone a wonderful year of the Tiger, filled with the sort of tigerly traits that we all could use as we pull ourselves out of the difficult year past; 新年快乐、虎虎生威、身体健康(the last, especially in times of COVID, takes on some poignancy, as does the traditional Peranakan wish of panjang panjang umur).
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from msn.com:
Singapore – Opposition Workers’ Party (WP) Member of Parliament Jamus Lim expressed his willingness to write a signed letter of encouragement to Sengkang residents, given that Opposition MPs don’t have the opportunity to hand out Edusave awards to exemplary students.
In a Facebook post, the Sengkang GRC MP and Associate Professor of Economics at ESSEC Business School said that parents have reached out to him regarding the Edusave awards, which are grants typically given to students in the top 10 per cent of a school’s cohort.
Prof Lim explained to residents in their constituency that “opposition MPs do not, unfortunately, have the pleasure of distributing Edusave awards.”
The awards are handed out by the Grassroots Advisers (GRAs), which are appointed by the People’s Association.
However, PAP wards represented by PAP MPs take on the role of the GRA; hence they can distribute the Edusave awards personally. The same goes for unelected PAP candidates in the opposition wards where they contested.
Prof Lim then offered a signed letter of encouragement which he would “happily write” and hand out in an “informal mini-ceremony” during his weekly meet-the-people sessions.
“Most importantly, please don’t feel that the only way you can meet and take a selfie with your MP is by studying hard and doing well!” he noted.
Edusave season or not, Prof Lim said he was always available for his residents, whether virtually or physically.
This is not the first time he highlighted the politically contentious issue and held a similar mini ceremony in February last year following a resident’s request.
“Nevertheless, I penned a brief letter—encouraging her to keep up the good work and to keep striving to exceed her own prior success—and we had a brief ceremony at the end of our meet-the-people session, where I handed her the letter,” he said in a Facebook post.
As someone who also received a most-improved-student award for Introductory Economics, Prof Lim said he understood the validation and encouragement from “seemingly simple gestures.”
Sengkang GRC is currently represented by a WP team consisting of He Ting Ru (Buangkok), Jamus Lim (Anchorvale) and Louis Chua (Rivervale).
Opposition MPs don’t have the pleasure of distributing Edusave awards: WP’s Jamus Lim, can write letters to Sengkang awardees instead
Singapore – Opposition Workers’ Party (WP) Member of Parliament Jamus Lim expressed his willingness to write a signed letter of encouragement to Sengkang residents, given that Opposition MPs don’t have the opportunity to hand out Edusave awards to exemplary students.
In a Facebook post, the Sengkang GRC MP and Associate Professor of Economics at ESSEC Business School said that parents have reached out to him regarding the Edusave awards, which are grants typically given to students in the top 10 per cent of a school’s cohort.
He said that a parent “expressed dismay” as their child was looking forward to interacting and taking a photo with their MP and losing the opportunity to do so because the awards were mailed out instead.
Prof Lim explained to residents in their constituency that “opposition MPs do not, unfortunately, have the pleasure of distributing Edusave awards.”
The awards are handed out by the Grassroots Advisers (GRAs), which are appointed by the People’s Association.
However, PAP wards represented by PAP MPs take on the role of the GRA; hence they can distribute the Edusave awards personally. The same goes for unelected PAP candidates in the opposition wards where they contested.
Prof Lim then offered a signed letter of encouragement which he would “happily write” and hand out in an “informal mini-ceremony” during his weekly meet-the-people sessions.
“Most importantly, please don’t feel that the only way you can meet and take a selfie with your MP is by studying hard and doing well!” he noted.
Edusave season or not, Prof Lim said he was always available for his residents, whether virtually or physically.
This is not the first time he highlighted the politically contentious issue and held a similar mini ceremony in February last year following a resident’s request.
“Nevertheless, I penned a brief letter—encouraging her to keep up the good work and to keep striving to exceed her own prior success—and we had a brief ceremony at the end of our meet-the-people session, where I handed her the letter,” he said in a Facebook post.
As someone who also received a most-improved-student award for Introductory Economics, Prof Lim said he understood the validation and encouragement from “seemingly simple gestures.”
Sengkang GRC is currently represented by a WP team consisting of He Ting Ru (Buangkok), Jamus Lim (Anchorvale) and Louis Chua (Rivervale).
- Joined
- Jul 14, 2008
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from msn.com:
Singapore — As the new Lunar Year rolled in, Workers’ Party Member of Parliament Jamus Lim paid tribute to his mother, whom he called “a Tiger Mom, perhaps thrice over”.
And while the term has been used negatively at times, Prof Lim choose to point out the best qualities that tigers have, as he wished everyone “a wonderful year of the Tiger, filled with the sort of tigerly traits that we all could use as we pull ourselves out of the difficult year past.”
The Sengkang GRC MP explained in a Jan 31 Facebook post that his “dearest mother” had been born in the year of the Tiger.
“She also raised my sister and me as a typical strict Asian mother would. And like many Singaporean mothers, she worked full-time, fighting to supplement the family income.”
He acknowledged, however, that the term “Tiger Mom” is “often used derisively” and “often gets short shrift.”
But he pointed out that “tigers are regal beasts, the largest and strongest of the great cats (even though the lion is frequently thought to be bigger).”
And in the Chinese zodiac, the tiger is seen as “an equal rival… to the typically more well-regarded dragon,” he added, before going on to praise his own “Tiger Mom.”
“My mother certainly embodied the elegance, strength, and tenacity that made her not only a symbol of quiet grit for my sister and myself, but also a respected colleague and supervisor in her professional life.”
© The Independent Singapore Photo: IG screengrab/jamuslim
On his mother’s birthday last year, Prof Lim also talked about her as a Tiger Mom.
“Since she grew up without much maternal direction (she was one of ten kids), she also poured her heart into raising us the best she could. This meant that she was a Tiger Mom, in every sense of the word (literally, too, since she was born in the year of the tiger). I would be punished (hello rattan my old friend) for scoring below 90 in tests and exams, and even worse performances would mean being locked out of the house. But through it all, I never doubted her love, and that she was doing it so that we might take our studies more seriously—studies that she felt was the way to a brighter future. Although I would not adopt the same approach myself as a parent, I deeply understand why she felt compelled to raise her children that way.”
Prof Lim named the “tigerly traits” that he and the rest of the Workers’ Party wished for all Singaporeans, “新年快乐、虎虎生威、身体健康 (the last, especially in times of COVID, takes on some poignancy, as does the traditional Peranakan wish of panjang panjang umur).”
The traits loosely translate to good health and strength, and panjang panjang umur means “long long life.”
The MP posted a video of different Workers’ Party leaders passing oranges to one another as they greeted everyone with a happy lunar new year.
On Prof Lim’s page, the still image of the video is that of party chair Sylvia Lim, which led to a little bit of confusion among some netizens, who mistakenly thought she was Prof Lim’s mother, based on his post.
© The Independent Singapore
On the WP Facebook account, where the video is also posted, the still image is that of WP chief and Leader of the Opposition Pritam Singh in his army uniform.
One woman who also has a “Tiger Mom” dropped a comment on Prof Lim’s wall.
© The Independent Singapore
Jamus Lim salutes his ‘Tiger Mom’ for CNY
Singapore — As the new Lunar Year rolled in, Workers’ Party Member of Parliament Jamus Lim paid tribute to his mother, whom he called “a Tiger Mom, perhaps thrice over”.
And while the term has been used negatively at times, Prof Lim choose to point out the best qualities that tigers have, as he wished everyone “a wonderful year of the Tiger, filled with the sort of tigerly traits that we all could use as we pull ourselves out of the difficult year past.”
The Sengkang GRC MP explained in a Jan 31 Facebook post that his “dearest mother” had been born in the year of the Tiger.
“She also raised my sister and me as a typical strict Asian mother would. And like many Singaporean mothers, she worked full-time, fighting to supplement the family income.”
He acknowledged, however, that the term “Tiger Mom” is “often used derisively” and “often gets short shrift.”
But he pointed out that “tigers are regal beasts, the largest and strongest of the great cats (even though the lion is frequently thought to be bigger).”
And in the Chinese zodiac, the tiger is seen as “an equal rival… to the typically more well-regarded dragon,” he added, before going on to praise his own “Tiger Mom.”
“My mother certainly embodied the elegance, strength, and tenacity that made her not only a symbol of quiet grit for my sister and myself, but also a respected colleague and supervisor in her professional life.”
On his mother’s birthday last year, Prof Lim also talked about her as a Tiger Mom.
“Since she grew up without much maternal direction (she was one of ten kids), she also poured her heart into raising us the best she could. This meant that she was a Tiger Mom, in every sense of the word (literally, too, since she was born in the year of the tiger). I would be punished (hello rattan my old friend) for scoring below 90 in tests and exams, and even worse performances would mean being locked out of the house. But through it all, I never doubted her love, and that she was doing it so that we might take our studies more seriously—studies that she felt was the way to a brighter future. Although I would not adopt the same approach myself as a parent, I deeply understand why she felt compelled to raise her children that way.”
Prof Lim named the “tigerly traits” that he and the rest of the Workers’ Party wished for all Singaporeans, “新年快乐、虎虎生威、身体健康 (the last, especially in times of COVID, takes on some poignancy, as does the traditional Peranakan wish of panjang panjang umur).”
The traits loosely translate to good health and strength, and panjang panjang umur means “long long life.”
The MP posted a video of different Workers’ Party leaders passing oranges to one another as they greeted everyone with a happy lunar new year.
On Prof Lim’s page, the still image of the video is that of party chair Sylvia Lim, which led to a little bit of confusion among some netizens, who mistakenly thought she was Prof Lim’s mother, based on his post.
On the WP Facebook account, where the video is also posted, the still image is that of WP chief and Leader of the Opposition Pritam Singh in his army uniform.
One woman who also has a “Tiger Mom” dropped a comment on Prof Lim’s wall.
- Joined
- Jul 14, 2008
- Messages
- 89,158
- Points
- 113
from msn.com:
Singapore — Workers’ Party MP Jamus Lim recently tackled inflation, cost-of-living issues, and the upcoming GST (Goods and Services Tax) hike.
The Sengkang GRC MP, an Associate Professor of Economics at ESSEC Business School, suggested that the hike should be reconsidered, given the state of Singapore’s economy.
“We also need to think very seriously about the wisdom of a GST increase,” he wrote in a Facebook post on Wednesday (Jan 26). “For us, a GST hike would not just add fuel to the fire, it could also shock an economy that is only just on a rebound.”
He expressed concern over the impact of the hike on certain industries, saying: “Sectors that will feel GST most directly (like F&B) remain weak.”
© The Independent Singapore
Prime Minister Lee Hsien Loong had said in his New Year message that that the Government would have to “start moving” on the GST hike.
The Government’s intention to increase the GST by two percentage points was announced in 2018 by the then-Finance Minister Heng Swee Keat when he delivered the Budget in Parliament. At the time, he projected that the GST would be raised by at some point between 2021 and 2025.
But the increase was not implemented last year because of the pandemic’s impact on the economy.
The current GST rate of 7 per cent has applied since July 2007. It was 5 per cent from 2004 to 2007; and 4 per cent throughout 2003, inching up from the original 3 per cent imposed on April 1, 1994.
Referring to the brief debate in Parliament recently on the increase in Cost of Living and inflation, he said that as an economist, he considers the “underlying drivers” of inflation. “We get a little more worried when prices rise because workers are insisting on wage hikes, because they are facing steadily rising costs of living. Or when households factor higher prices into their budgets in anticipation of what they need to spend.”
While he acknowledged that inflation is high — “4% in the latest December report” — it decreases when the costs of food and energy “which are usually more volatile” are removed.
“This so-called ‘core inflation’ is running at 2.1 per cent in December. This is hot, but only a little more than the 2 per cent target most central banks are comfortable with,” he said.
But “the picture isn’t all peaches and roses’, he warns. “As anyone who drives a car or pays for utilities would have observed, energy prices are up sharply (by more than 10%). And while food costs have not risen as quickly compared to a year ago, they have jumped by close to 4% (on an annualized basis) over the past few months.”
The Government has accepted that there has been inflation, although it has emphasised that “price increases would eventually come under control”. Prof Lim said he agrees with this, but believes it will not “happen as quickly as economists (and central bankers) would like”.
Higher costs, he emphasised, are already making an impact.
“Perhaps most importantly, people are also feeling the pain now. The #workersparty believes that it is possible to make the numbers work without further increasing a regressive tax like GST, and to instead focus on other progressive sources.
“These include a wealth tax, additional tiers to property taxation, and adjusting the formula for the interest contribution from our reserves. We should also think more carefully about existing taxes on capital. Ultimately, while we agree that changing demographics mean that our expenditures (especially in healthcare) will increase, we think that a different mix to our revenue sources is both possible and desirable.”
Jamus Lim urges re-think of GST hike, says it could ‘shock’ the economy
Singapore — Workers’ Party MP Jamus Lim recently tackled inflation, cost-of-living issues, and the upcoming GST (Goods and Services Tax) hike.
The Sengkang GRC MP, an Associate Professor of Economics at ESSEC Business School, suggested that the hike should be reconsidered, given the state of Singapore’s economy.
“We also need to think very seriously about the wisdom of a GST increase,” he wrote in a Facebook post on Wednesday (Jan 26). “For us, a GST hike would not just add fuel to the fire, it could also shock an economy that is only just on a rebound.”
He expressed concern over the impact of the hike on certain industries, saying: “Sectors that will feel GST most directly (like F&B) remain weak.”
Prime Minister Lee Hsien Loong had said in his New Year message that that the Government would have to “start moving” on the GST hike.
The Government’s intention to increase the GST by two percentage points was announced in 2018 by the then-Finance Minister Heng Swee Keat when he delivered the Budget in Parliament. At the time, he projected that the GST would be raised by at some point between 2021 and 2025.
But the increase was not implemented last year because of the pandemic’s impact on the economy.
The current GST rate of 7 per cent has applied since July 2007. It was 5 per cent from 2004 to 2007; and 4 per cent throughout 2003, inching up from the original 3 per cent imposed on April 1, 1994.
Referring to the brief debate in Parliament recently on the increase in Cost of Living and inflation, he said that as an economist, he considers the “underlying drivers” of inflation. “We get a little more worried when prices rise because workers are insisting on wage hikes, because they are facing steadily rising costs of living. Or when households factor higher prices into their budgets in anticipation of what they need to spend.”
While he acknowledged that inflation is high — “4% in the latest December report” — it decreases when the costs of food and energy “which are usually more volatile” are removed.
“This so-called ‘core inflation’ is running at 2.1 per cent in December. This is hot, but only a little more than the 2 per cent target most central banks are comfortable with,” he said.
But “the picture isn’t all peaches and roses’, he warns. “As anyone who drives a car or pays for utilities would have observed, energy prices are up sharply (by more than 10%). And while food costs have not risen as quickly compared to a year ago, they have jumped by close to 4% (on an annualized basis) over the past few months.”
The Government has accepted that there has been inflation, although it has emphasised that “price increases would eventually come under control”. Prof Lim said he agrees with this, but believes it will not “happen as quickly as economists (and central bankers) would like”.
Higher costs, he emphasised, are already making an impact.
“Perhaps most importantly, people are also feeling the pain now. The #workersparty believes that it is possible to make the numbers work without further increasing a regressive tax like GST, and to instead focus on other progressive sources.
“These include a wealth tax, additional tiers to property taxation, and adjusting the formula for the interest contribution from our reserves. We should also think more carefully about existing taxes on capital. Ultimately, while we agree that changing demographics mean that our expenditures (especially in healthcare) will increase, we think that a different mix to our revenue sources is both possible and desirable.”
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Jamus recommends a brolly.
To be quite honest, the #workersparty brolly isn't the most subtle way to express your support for an alternative voice in Parliament. But proceeds from sales of items such as this are one of the few ways available for opposition parties like us to keep our finances healthy, especially in off-election years where interest surrounding politics tends to wane. And while it makes a statement, it is also a fine, handsome umbrella, which does a fantastic job of keeping the elements at bay, whether rain or shine. In my walks around the estate, I have been pleased to see residents in #SengkangGRC happily brandishing the umbrella. You can too! Get your own at: https://shop.wp.sg/
https://www.facebook.com/photo/?fbi...seu19l07ZtnCovHbLCKgJ_fmuFT4GYUw&__tn__=*bH-R
Jamus Lim
7 hrs ·To be quite honest, the #workersparty brolly isn't the most subtle way to express your support for an alternative voice in Parliament. But proceeds from sales of items such as this are one of the few ways available for opposition parties like us to keep our finances healthy, especially in off-election years where interest surrounding politics tends to wane. And while it makes a statement, it is also a fine, handsome umbrella, which does a fantastic job of keeping the elements at bay, whether rain or shine. In my walks around the estate, I have been pleased to see residents in #SengkangGRC happily brandishing the umbrella. You can too! Get your own at: https://shop.wp.sg/
https://www.facebook.com/photo/?fbi...seu19l07ZtnCovHbLCKgJ_fmuFT4GYUw&__tn__=*bH-R
- Joined
- Jul 14, 2008
- Messages
- 89,158
- Points
- 113
from theindependent.sg:
Who wants to stand under Jamus Lim’s umbrella? It looks like a lot of people do
Singapore—Workers’ Party MP Jamus Lim (Sengkang GRC) is arguably one of the most popular opposition figure these days, despite being a relative newbie in the political arena.
The MP, an associate professor of Economics at ESSEC Business School, was all but unknown two years ago until he emerged as a WP candidate in July 2020.
He more than held his own in the first TV debate of the campaign period against Foreign Affairs Minister Vivian Balakrishnan, who has a nearly two-decade headstart on the professor in practical politics, having first been elected in the 2001 General Election.
Prof Lim hit the ground running, and his following has since grown considerably. On Facebook, for instance, he already has a following of more than 85,000, and on Instagram, better than 115,000.
On his Facebook page, Prof Lim’s topics run the gamut from the supranational e.g. wealth taxes, the coming GST hike and the economy, to the hyper-local, e.g. cleanliness in his ward, Anchorvale.
His posts also celebrate a range of down home subjects such as his “Tiger Mum” in the Year of the Tiger, playing the guitar to his toddler, and even the kind of food that he and his family enjoy.
On Tuesday, Feb 8, his topic was umbrellas – Workers’ Party umbrellas, to be precise – which are sold to raise funds, especially during times when public interest in politics begins to wane.
“To be quite honest, the #workersparty brolly isn’t the most subtle way to express your support for an alternative voice in Parliament,” he wrote.
“But proceeds from sales of items such as this are one of the few ways available for opposition parties like us to keep our finances healthy, especially in off-election years where interest surrounding politics tends to wane.”
He vouched for the umbrella’s quality, writing that not only does sporting it make “a statement,” but it’s “also a fine, handsome umbrella, which does a fantastic job of keeping the elements at bay, whether rain or shine.”
Prof Lim says he’s “pleased” to see Sengkang GRC residents “happily brandishing the umbrella” and advertises that anyone can buy a brolly and support the party through its merchandise page on the WP site. It offers two kinds – a compact fold-up model ($13) and a long-handled one ($16). Both bear the WP logo, a golden hammer against red background.
Many netizens have liked, shared, and commented on Prof Lim’s umbrella post.
One commenter said that he owns several WP umbrellas, adding cheekily: “They are very sturdy so worth buying even if you are a PAP supporter.”
- Advertisement 3-
Others teased the MP about being an umbrella model.
One netizen suggested that the WP make a larger umbrella, “so we can bring in more supporters under rain or sun”.
A netizen commented, “Pretty obvious umbrella is to protect against lighting…” in reference to the PAP logo.
Netizens who already own WP umbrellas told stories of their own.
Some even joked that they want a WP umbrella with Jamus’ autograph.
And yes, as to be expected, there were Rihanna references in the comments.
Who wants to stand under Jamus Lim’s umbrella? It looks like a lot of people do
Singapore—Workers’ Party MP Jamus Lim (Sengkang GRC) is arguably one of the most popular opposition figure these days, despite being a relative newbie in the political arena.
The MP, an associate professor of Economics at ESSEC Business School, was all but unknown two years ago until he emerged as a WP candidate in July 2020.
He more than held his own in the first TV debate of the campaign period against Foreign Affairs Minister Vivian Balakrishnan, who has a nearly two-decade headstart on the professor in practical politics, having first been elected in the 2001 General Election.
Prof Lim hit the ground running, and his following has since grown considerably. On Facebook, for instance, he already has a following of more than 85,000, and on Instagram, better than 115,000.
On his Facebook page, Prof Lim’s topics run the gamut from the supranational e.g. wealth taxes, the coming GST hike and the economy, to the hyper-local, e.g. cleanliness in his ward, Anchorvale.
His posts also celebrate a range of down home subjects such as his “Tiger Mum” in the Year of the Tiger, playing the guitar to his toddler, and even the kind of food that he and his family enjoy.
On Tuesday, Feb 8, his topic was umbrellas – Workers’ Party umbrellas, to be precise – which are sold to raise funds, especially during times when public interest in politics begins to wane.
“To be quite honest, the #workersparty brolly isn’t the most subtle way to express your support for an alternative voice in Parliament,” he wrote.
“But proceeds from sales of items such as this are one of the few ways available for opposition parties like us to keep our finances healthy, especially in off-election years where interest surrounding politics tends to wane.”
He vouched for the umbrella’s quality, writing that not only does sporting it make “a statement,” but it’s “also a fine, handsome umbrella, which does a fantastic job of keeping the elements at bay, whether rain or shine.”
Prof Lim says he’s “pleased” to see Sengkang GRC residents “happily brandishing the umbrella” and advertises that anyone can buy a brolly and support the party through its merchandise page on the WP site. It offers two kinds – a compact fold-up model ($13) and a long-handled one ($16). Both bear the WP logo, a golden hammer against red background.
Many netizens have liked, shared, and commented on Prof Lim’s umbrella post.
One commenter said that he owns several WP umbrellas, adding cheekily: “They are very sturdy so worth buying even if you are a PAP supporter.”
- Advertisement 3-
Others teased the MP about being an umbrella model.
One netizen suggested that the WP make a larger umbrella, “so we can bring in more supporters under rain or sun”.
A netizen commented, “Pretty obvious umbrella is to protect against lighting…” in reference to the PAP logo.
Netizens who already own WP umbrellas told stories of their own.
Some even joked that they want a WP umbrella with Jamus’ autograph.
And yes, as to be expected, there were Rihanna references in the comments.
- Joined
- Jul 14, 2008
- Messages
- 89,158
- Points
- 113
Jamus Lim
21 hrs ·Pritam Singh
Yesterday at 17:01 ·COP Report
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I have looked at the COP report and its recommendation to refer Faisal Manap and I for prosecution. I will speak more extensively on the COP report in Parliament when it is tabled for debate, expected to be sometime next week.
Assuming Parliament adopts the Committee’s recommendations, there remain a number of unknowns. These include the eventual decision of the Public Prosecutor to prosecute, the intervening time before the matter goes to trial, the eventual verdict and any sentence meted out, and the prospect of both Faisal and I losing our parliamentary seats and stepping down as Members of Parliament if either of us is fined $2000 or more.
Until there is some resolution to these matters which may take some time yet, Faisal and I will continue our work - including but not limited to MPS, estate walks, house visits and other parliamentary commitments - as per normal. The same goes for Team The Workers' Party and its activities, including our outreach efforts in previously contested constituencies.
As always, Sylvia, Faisal and I are grateful to the public for their support of the Workers’ Party, and all three of us, like our party colleagues will continue to serve to the best of our abilities. Finally, we thank the public for your encouragement and support towards the efforts of The Workers’ Party in building a more democratic Singapore, one that all Singaporeans can be proud of. That work will continue.
