Joseph Lim 
#Budget2025: ‘something for everyone’?
"persistent need for #subsidies for basic goods & svcs in one of world's richest countries indicates tt #prices r too high & #wages too low to enable a substantial segment of #Singaporeans to make ends meet. The mkt distortions which cause tis result in part fr #stateland, #labour & #exchangerate #policies.. More serious for LT economic devt is "rentier" mentality generated by an economy excessively focused on property mkt gains" 1/2
https://www.straitstimes.com/opinion/budget-2025-is-something-for-everyone-the-right-thing-to-do
Budget 2025: Is ‘something for everyone’ the right thing to do?

Subsidies are justifiable as corrections to market imperfections, but there are downsides to repeated “handouts”. Read more at straitstimes.com.

The Straits Times
Feb 24 at 9:51amMastodon for Android
Show threadJoseph Lim Feb 24
2/2
🇸🇬"Richer property owners due to higher ppty prices mean a higher #costofliving, which undermines int'l competitiveness. A weak currency helps make exports competitive, but raises price of imported goods & svcs. A Budget surplus readily funds subsidies, but also means tt #Government is taking in more fr households & businesses than it's disbursing to them. This means a larger #state but smaller #privatesector. & a current acct surplus is achieved by restrain'g curr consumption & #investment"💯