S’poreans’ interests come first

Dear Mr Teo,

I refer to the 5 May 2011 Straits Times report of your election contest remarks.

You said the PAP considers the interests of Singapore and Singaporeans first each time it acts and that there is no reason to act in any other way. When you have Mr Mah explaining why HDB prices must be high in order to feed the reserves, you can’t help but conclude that overflowing Singapore reserves is more important than the well being of Singaporeans. The reason is very clear. Singaporeans are just cows to be milked to feed the reserves.

You said the housing market involves difficult trade offs and is compounded by the lack of perfect information. But if, as you said, Singaporeans always come first, why should the trade off be difficult? Shouldn’t any trade off automatically lean towards Singaporeans? You said there is lack of perfect information. Mr Teo, please be informed that HDB prices started to climb in the second quarter of 2007, more than a year before the Global Financial Crisis hit in late 2008. The fear of property prices crashing when too many houses are built is applicable from late 2008 onwards. But between early 2007 and late 2008, Mr Mah did nothing. We can only speculate. Was it because build-to-order entitles HDB to do nothing? Was it because HDB officials already have houses so are not worried if rising prices affect the people? Was it because the government wants HDB prices to rise to feed the reserves? We may never know the answer but one thing is for sure. It was definitely not due to the lack of perfect information which was available all the time on the HDB website.

We understand it is not easy to restrict the flow of foreigners that our enterprises depend on. But what is so difficult about making adequate provisions to cater for the huge number of people we have let in? If not a single person in the PAP saw this, how to convince Singaporeans that the PAP is the best?

You said short-term measures that are popular and which make people happy may ultimately make people suffer five years down the road. Actually, PAP’s asset enhancement programme is such a measure which while making current owners happy will bring tears and suffering to future generations.

Singapore wasn’t the only economy that has done better at coping with the global economic crisis. East Asia did better in general. So should we vote to be more open like Hong Kong since it has proven to be equally adept at coping with the crisis?

You pointed to the opposition’s lack of plans for the residents. Without the money, how to have the plans? You are basically reminding voters of the opposition’s lack of access to national funds which is not right to begin with. As Mr Zainul Abidin always exhorts: are we Singaporeans? Ask yourself; are citizens in opposition wards not Singaporeans?

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