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Chitchat Why Jamus Lim join Workers' Party ?
- Thread starter batman1
- Start date
Jamus Lim
14 h ·Sengkang GRC
1 d ·This year, Sengkang GRC will be having its Deepavali Celebration at the MPH @ Blk 273E Compassvale Link on 05 November (Saturday)!
Come down and join our MPs in family-friendly games and activities, with prizes to be won and free snacks too!
Jamus is concerned about inflation. 
It doesn’t take a genius to observe that stuff is still frighteningly expensive. August’s inflation clocked in at a scorching 7.5 percent. If inflation were to persist at this rate, prices would double in less than a decade. This makes us poorer. Over the past 6 years, inflation was sufficiently contained that our real wages grew by almost 3 percent annually. But if inflation had grown at the rate it did this past 6 months, our incomes would have shrunk instead.
What can MAS do? It’s in a bit of a bind. It just tightened monetary policy again, but it was half-hearted. That’s because the Sing dollar has already strengthened against its main trading partners by 5%, even while it weakened against the U.S. dollar by almost 6%. Further tightening monetary policy also has consequences for unemployment. As it stands, it seems unlikely that the U.S. will be able to pull off the fabled “soft landing” of the economy, where inflation is tamed without triggering a recession.
The situation looks to be the same here. Tighter monetary policy will likely raise unemployment. This would mean a double whammy for our workers: a right jab from rising prices, a left hook from lost jobs. If we add to this potent mix another GST hike in January, we risk this being a shoryuken move that could well kick our economy into recession (yes, I was a child of the 80s, and Street Fighter references are not beyond me).
But there is a solution: take the windfall tax revenues the government raked in last year (an increase of more than 22%) and rebate those back to the people. Beyond natural justice (government should not be making money while citizens suffer), this also gives a nice little boost from expansionary fiscal policy. DPM Lawrence Wong had previously assured us that the government will address the inflation threat, should it get worse. It is now worse, so it makes sense for the government to act.
Earlier this month, I proposed some options in Parliament for what could be done. The fiscal package announced in June was $1.5 billion, which still leaves more than $7 billion is extraordinary surplus on the table. We can (and should) make use of this.
One approach—which is elegant and straightforward to implement—is to use the amount to postpone the GST increase. This can buy us two whole years, precious breathing room for the economy. Another option is to distribute this amount as GST vouchers. The government had promised, when it announced the GST hike, that such vouchers would cover GST expenses for between 2.5 and 20 years (depending on your income). But inflation has eroded the value of the original vouchers, by between 1 and 12 months. Giving out more GST vouchers restores the government’s original promise. A third way is to roll out another off-budget support package. This gives support to all, which is fair: we are all affected by higher inflation, regardless of income.
Yesterday, the government announced that it would make a special cost of living payment, albeit with different payout amounts for different income groups. I’m glad it has chosen to do so. #makingyourvotecount
Jamus Lim
13 h ·It doesn’t take a genius to observe that stuff is still frighteningly expensive. August’s inflation clocked in at a scorching 7.5 percent. If inflation were to persist at this rate, prices would double in less than a decade. This makes us poorer. Over the past 6 years, inflation was sufficiently contained that our real wages grew by almost 3 percent annually. But if inflation had grown at the rate it did this past 6 months, our incomes would have shrunk instead.
What can MAS do? It’s in a bit of a bind. It just tightened monetary policy again, but it was half-hearted. That’s because the Sing dollar has already strengthened against its main trading partners by 5%, even while it weakened against the U.S. dollar by almost 6%. Further tightening monetary policy also has consequences for unemployment. As it stands, it seems unlikely that the U.S. will be able to pull off the fabled “soft landing” of the economy, where inflation is tamed without triggering a recession.
The situation looks to be the same here. Tighter monetary policy will likely raise unemployment. This would mean a double whammy for our workers: a right jab from rising prices, a left hook from lost jobs. If we add to this potent mix another GST hike in January, we risk this being a shoryuken move that could well kick our economy into recession (yes, I was a child of the 80s, and Street Fighter references are not beyond me).
But there is a solution: take the windfall tax revenues the government raked in last year (an increase of more than 22%) and rebate those back to the people. Beyond natural justice (government should not be making money while citizens suffer), this also gives a nice little boost from expansionary fiscal policy. DPM Lawrence Wong had previously assured us that the government will address the inflation threat, should it get worse. It is now worse, so it makes sense for the government to act.
Earlier this month, I proposed some options in Parliament for what could be done. The fiscal package announced in June was $1.5 billion, which still leaves more than $7 billion is extraordinary surplus on the table. We can (and should) make use of this.
One approach—which is elegant and straightforward to implement—is to use the amount to postpone the GST increase. This can buy us two whole years, precious breathing room for the economy. Another option is to distribute this amount as GST vouchers. The government had promised, when it announced the GST hike, that such vouchers would cover GST expenses for between 2.5 and 20 years (depending on your income). But inflation has eroded the value of the original vouchers, by between 1 and 12 months. Giving out more GST vouchers restores the government’s original promise. A third way is to roll out another off-budget support package. This gives support to all, which is fair: we are all affected by higher inflation, regardless of income.
Yesterday, the government announced that it would make a special cost of living payment, albeit with different payout amounts for different income groups. I’m glad it has chosen to do so. #makingyourvotecount
Jamus goes on house visits. 
This week’s house visits allowed #TeamSengkang to cover about half of 323B #Anchorvale, while our estate walk dealt with the 351 Fields cluster.
A few of our conversations touched on moving in (and out) of the neighborhood. One visit was to the beautifully-renovated home of an interior designer (ID). Given her profession, the apartment looked like a showroom. She had customized furniture, while also incorporating a number of design elements that were tailored to HDB living, such a exposed piping (easier maintenance in the event of a leak), an open-concept kitchen with an island (to convey more space in tight conditions), and a recessed entrance panel (to hide the bomb shelter). Having lived in many countries, I’d attest to our ID services as among the most impressive in the world. It’s not entirely surprising—most of us would otherwise live in uniform, concrete blocks, so customizing our flats is a big part of injecting individuality into our living spaces—and the sector strikes me as one of the exportable services we can grow.
Another conversation was with a resident whose block was approaching its five-year minimum occupancy period (MOP). Some households do choose to sell and move once this occurs (we’re always sad to lose residents!), but this resident expressed his happiness in living in the town, which he explained was convenient (because of amenities) and connected (to his place of work); so, for his family, a comfortable place to live. Other residents— who had lived in the town for in excess of two decades—expressed similar sentiments. I see part of my job as ensuring that this feeling of community and belonging is shared by as many constituents of #SengkangGRC as possible.
Jamus Lim
2 d ·This week’s house visits allowed #TeamSengkang to cover about half of 323B #Anchorvale, while our estate walk dealt with the 351 Fields cluster.
A few of our conversations touched on moving in (and out) of the neighborhood. One visit was to the beautifully-renovated home of an interior designer (ID). Given her profession, the apartment looked like a showroom. She had customized furniture, while also incorporating a number of design elements that were tailored to HDB living, such a exposed piping (easier maintenance in the event of a leak), an open-concept kitchen with an island (to convey more space in tight conditions), and a recessed entrance panel (to hide the bomb shelter). Having lived in many countries, I’d attest to our ID services as among the most impressive in the world. It’s not entirely surprising—most of us would otherwise live in uniform, concrete blocks, so customizing our flats is a big part of injecting individuality into our living spaces—and the sector strikes me as one of the exportable services we can grow.
Another conversation was with a resident whose block was approaching its five-year minimum occupancy period (MOP). Some households do choose to sell and move once this occurs (we’re always sad to lose residents!), but this resident expressed his happiness in living in the town, which he explained was convenient (because of amenities) and connected (to his place of work); so, for his family, a comfortable place to live. Other residents— who had lived in the town for in excess of two decades—expressed similar sentiments. I see part of my job as ensuring that this feeling of community and belonging is shared by as many constituents of #SengkangGRC as possible.
Jamus distributed Deepavali care packs.
Over the recent weekend, I helped #TeamSengkang distribute Deepavali care packs to Indian residents living in more modest accommodations within the #Anchorvale and #Compassvale neighborhoods of #SengkangGRC.
The packages—which contained both sweet treats as well as provisions for cooking provisions (I was sufficiently gian that I ended up tapaoing biryani for the family dinner)—were assembled by Mr Nathan, and his group of donors and volunteers, who have led this exercise for a number of years now. Our distribution team included those of Chinese, Malay, Indian, and Eurasian ethnicities (our fabled CMIO!), all working toward helping the less fortunate in our community.
We are extremely grateful for everyone’s efforts and generosity, especially since the distribution occurred over a Saturday afternoon, which we know is precious family time for many. The packs are a testament that #SengkangGRC is a modern kampong, one where we look out for each other.
Jamus Lim
3 d ·Over the recent weekend, I helped #TeamSengkang distribute Deepavali care packs to Indian residents living in more modest accommodations within the #Anchorvale and #Compassvale neighborhoods of #SengkangGRC.
The packages—which contained both sweet treats as well as provisions for cooking provisions (I was sufficiently gian that I ended up tapaoing biryani for the family dinner)—were assembled by Mr Nathan, and his group of donors and volunteers, who have led this exercise for a number of years now. Our distribution team included those of Chinese, Malay, Indian, and Eurasian ethnicities (our fabled CMIO!), all working toward helping the less fortunate in our community.
We are extremely grateful for everyone’s efforts and generosity, especially since the distribution occurred over a Saturday afternoon, which we know is precious family time for many. The packs are a testament that #SengkangGRC is a modern kampong, one where we look out for each other.
