More Self-glorifying Articles...
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Keeping the Gini in the bottle
Govt measures help to control income disparity
Nazry Bahrawi
AT A time when the economy simply sparkled, wages for the low income and lower-middle income groups went up last year, but not as quickly as they did in 2006.
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And if not for Government intervention, the widening income gap would have been more pronounced, according to a Department of Statistics (DOS) report yesterday.
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The bottom 10 per cent of households with at least one working Singaporean brought home $310 per member each month — before inflation — compared to $300 in 2006. In real terms, the annual change in income was 3.3 per cent compared to 6.6 per cent growth in 2006 over the year before.
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Those in the 11th to 20th percentile took home $570 per household member before inflation compared to $540 in 2006. In percentage terms, this was 3.6 per cent compared to 5.6 per cent the year before.
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As Singapore households experienced the highest growth in average wages in almost a decade, the Key Household Income Trends report showed the middle-income and richer households, for whom the rate of wage growth last year eclipsed the increases in 2006, pulling away from the bottom 40 per cent.
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In the 41st to 50th percentile, wages increased by 4.7 per cent per household member, to $1,190, compared to an increase of 4.2 per cent in 2006.
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Meanwhile, the top 10 per cent of households earned 11.1 per cent more last year — or $7,940 per member.
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Due to the demand for skilled and knowledge workers outstripping supply, this latter group was able to demand higher wages — coming especially in an economic upturn, said UOB economist Ho Woei Chen.
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She told Today: "For instance, those in the banking sector especially in the field of wealth management would experience a higher wage growth compared to those in the manufacturing sector."
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The average income for a resident household headed by a Singaporean or permanent resident with at least one working person, was $6,830 last year, which was a 9.1-per-cent increase over 2006. The increase was 6.9 per cent if inflation was taken into account.
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Looked at another way, 50 per cent of households earned $4,870 or more last year.
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As a result of the widening income level, the Gini coefficient index, which measures income disparity on a scale of one to zero, increased to 0.485 last year.
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In 2000, it was 0.442 and has been steadily increasing.
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But with the combined introduction of the GST offset package and Workfare, the Gini coefficient index pulled back to 0.46 which is close to the disparity level of five years ago.
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"The Government's disbursement of the Goods and Services (GST) offset package which was weighted in favour of the lower-income groups helped in mitigating the effects of the widening household income disparity," explained the DOS.
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Last year, the GST offset package and Workfare Bonus per household member for resident households in the bottom 10 per cent was $460, which represented 123.5 per cent of the annual average income of households in this group.
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For the 11th to 20th percentile, the two Government relief measures added $400 to each member's income last year, or 8.5 percent of the average household income.
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For those in the 21st to 40th percentile, the disbursement was between $350 to $370, or 3.3 to 4.8 per cent of household income.
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But the report only measures income from only employment and business, and excludes income from other sources, such as rentals and investments, which are likely to benefit higher-income groups further, noted economists.
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Said CIMB-GK Research head Song Seng Wun: "In an environment like 2007, those who have the money would have done a lot better if we consider other incomes from properties, and equities. If we include these, the Gini Coefficient will increase from what is published." -
middle class should not feel poor
SIEW KUM HONG
Every February seems to turn into a mini-Christmas, with wish lists for goodies, tax cuts, specific fiscal incentives and rebates galore.
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This year has been no different in the lead-up to the Budget tomorrow.
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Businesses ask for help to ease operating costs, which always seem to rise and never fall.
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The volume of calls for more help for the poor grows exponentially year-on-year. I, too, have made such calls, and will do so again during the Budget debate.
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The middle class, though, seems under-represented this year, despite increasing recognition of middle-class concerns and interests in recent years. Maybe it is because middle-class folks have benefited from Singapore's recent robust economic growth, and so should be well-placed to take care of themselves.
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Or perhaps, middle-class goals are often seen as aspirational and not necessities, and so, somehow less worthy or needy.
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Both statements might be overly sweeping. The traditional definition of 'middle class' is the middle 60 percent of the population by income. But this is a large group with radically different profiles — and concerns — at the two ends.
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In 2005, the bottom one-third of the middle class had an average monthly income of $2,590 from work.
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The corresponding figure for the top one-third of the middle class was $6,575.
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While the lower-middle class may have experienced rising wages in the past two years, the real wage growth is unlikely to be sufficient for them to escape from the daily pressures of survival concerns. This is aggravated by the economic slowdown that is almost certainly upon us. Their concerns will be closer to those of the low income rather than the rest of the middle class.
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The recent announcements on means testing for healthcare, and in particular, the proposal to provide full subsidy to wage earners up to the 50th percentile, suggest that the Government, or at least the Health Ministry, may be beginning to acknowledge this reality.
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It would be interesting to see if the Budget will extend assistance to the lower-middle class, similar to that extended to the low-income. On the other hand, the upper-middle class' worries, such as car ownership and the affordability of private housing, are aspirational to some degree.
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Their wish list items such as an income tax rate cut and abolition of estate duty are largely meaningless to the lower income.
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In between lies the middle 20 percent of the population. This group and the upper-middle class, to a lesser extent, is vulnerable to the "sandwiched class" phenomenon, caught between the rock of raising children and the hard place of taking care of ageing parents.
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Budgets in recent years have not been as kind to the "sandwiched class".
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The tax relief initiatives seem to have plateaued. Maid levies will not go much lower.
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The rebates and Goods and Services offset credits for this group would not have been as much as many hoped for. This group will probably be most affected by the looming prospect of means testing.
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These concerns should not be easily dismissed as resulting from aspirational goals. They are valid, genuine issues the Government should address.
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We keep talking about how well we have done. We are, after all, the much ballyhooed developed country that has grown in recent years at a blistering developing pace.
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It is natural for the middle class to have certain standard-of-living expectations.
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While physical limitations make it difficult, if not impossible, for half the population to drive or to live in private housing, there are minimum standards that are legitimate for the middle class to expect.
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If the squeeze becomes suffocating and causes a massive disconnect between reality and fair expectations, there will be broad discontent in the middle class.
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The lower-income may start to wonder what to aspire to if even the middle class cannot sustain a reasonable lifestyle.
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Helping lower-income Singaporeans must remain the top priority. They are the most vulnerable to the vicissitudes of globalisation and ruthless technological innovation and need the most assistance.
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But we should not forget that there are other Singaporeans who expect some reasonable attention to their own concerns. While money may never be enough, the middle class in a rich country should not feel poor.
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The writer is a Nominated Member of Parliament and corporate counsel. These are his personal, middle-class views. -
our democracy model Uncle Sam Gini is:
in 2005: 0.469 (most recent year reported; highest coefficient reported)
SG Gini is 0.472 in 2007,jump from 0.485 in 2006.STimes 14.02.2008.
2.We have to consider other factors.Eg SG housing is like socialists system.Most of the citizens can get 2.6% pa house loan interest rate.
In US,many family,estimated to be 1.8 million house loan,will be foreclosed in 2008 due to re set of interest rate.
http://en.wikipedia.org/wiki/Gini_coefficient
quote:
Measures of (Singapore )household income disparity Measure 1990 1995 1997 1998 1999 2000 Gini coefficient 0.436 0.443 0.444 0.446 0.467 0.481 —Excluding households with no income earner 0.410 0.409 0.412 0.410 0.424 0.432 Ratio of Average Income —Top 20% to Lowest 20% 11.4 13.8 13.6 14.6 17.9 20.9 —9th decile to 2nd decile 5.5 6.1 5.9 6.2 6.8 7.4 end of quote
http://en.wikipedia.org/wiki/Ethnic_groups_in_Singapore#Ethnic_groups
many info for SG!!
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It is really great being a singaporean. I love singapore and the government.
They had, have and will do their best to provide for the people of singapore.
Lion you are just great, you just made me change my view of singapore and the low housing cost with your ctrl-v from wikipedia
You are just GREAT
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S'pore cuts 2008 growth to 4-6%
Thu, Feb 14, 2008
The Straits Times
SINGAPORE lowered its growth for this year to 4-6 per cent from an earlier estimate of 4.5-6.5 per cent, amid concerns for its exports as world economies weakened.The Ministry of Trade and Industry (MTI) announced in a press release on Thursday that the economy grew 7.7 per cent last year, following a 8.2 per cent expansion in 2006.
For the fourth quarter of 2007, Singapore's economy moderated, growing by 5.4 per cent, compared with an advance estimate of 6.0 per cent and the 9.5 per cent increase in the previous quarter.
Growth on an annualised quarter-to-quarter basis declined to minus 4.8 per cent, down from 5.1 per cent in the third quarter.The MTI said the slowdown reflected largely a sharp decline in biomedical manufacturing rather than the impact of the slowing US economy.
The fastest growing sectors were construction, up 24.3 per cent and financial services which grew 15.9 per cent.
Manufacturing expanded just 0.2 per cent in the fourth quarter from a year earlier.
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Originally posted by lionnoisy:
our democracy model Uncle Sam Gini is:
in 2005: 0.469 (most recent year reported; highest coefficient reported)
SG Gini is 0.472 in 2007,jump from 0.485 in 2006.STimes 14.02.2008.
2.We have to consider other factors.Eg SG housing is like socialists system.Most of the citizens can get 2.6% pa house loan interest rate.
In US,many family,estimated to be 1.8 million house loan,will be foreclosed in 2008 due to re set of interest rate.
http://en.wikipedia.org/wiki/Gini_coefficient
quote:
Measures of (Singapore )household income disparity Measure199019951997199819992000 Gini coefficient 0.436 0.443 0.444 0.446 0.467 0.481 —Excluding households with no income earner 0.410 0.409 0.412 0.410 0.424 0.432 Ratio of Average Income —Top 20% to Lowest 20% 11.4 13.8 13.6 14.6 17.9 20.9 —9th decile to 2nd decile 5.5 6.1 5.9 6.2 6.8 7.4
end of quote
http://en.wikipedia.org/wiki/Ethnic_groups_in_Singapore#Ethnic_groups
many info for SG!!
The Gini coefficient is a measure of statistical disperson most prominently used as a measure of inequality of income distribution or inequality of wealth distribution. It is defined as a ratio with values between 0 and 1: the numerator is the area between the Loreanz curve of the distribution and the uniform distribution line; the denominator is the area under the uniform distribution line. Thus, a low Gini coefficient indicates more equal income or wealth distribution, while a high Gini coefficient indicates more unequal distribution. 0 corresponds to perfect equality (everyone having exactly the same income) and 1 corresponds to perfect inequality (where one person has all the income, while everyone else has zero income). The Gini coefficient requires that no one have a negative net income or wealth.
List of developed countries (UN data) with lower Gini Coefficient than Singapore's 42.5 :1) Australia = 35.2
2) Austria = 29.1
3) Belgium = 33
4) Canada = 32.6
5) Denmark = 24.7
6) European Union = 30.7
7) Finland = 26.9
8) France = 32.7
9) Germany = 28.3
10) Greece = 34.3
11) Iceland = 25.0
12) Ireland = 34.3
13) Italy = 36.0
14) Japan = 24.9
15) South Korea = 31.6
16) Netherlands = 30.9
17) New Zealand = 36.2
18) Norway = 25.8
19) Spain = 34.7
20) Sweden = 25.0
21) Switzerland = 33.7
22) UK = 36.0
http://en.wikipedia.org/wiki/List_of_countries_by_income_equality
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Our ministers' worth are more than any of those countries' leaders in the List of developed countries (UN data) with lower Gini Coefficient than Singapore's 42.5! Correct me. -
Our millionsters are worth so much.
It can be very tough to create such a impressive articles with so much "improved" data in it.
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Originally posted by justcooler:
It is really great being a singaporean. I love singapore and the government.
They had, have and will do their best to provide for the people of singapore.
Lion you are just great, you just made me change my view of singapore and the low housing cost with your ctrl-v from wikipedia
You are just GREAT
y do i get this tinkling feeling that you dun actually believe a single word you wrote.. xD
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Originally posted by Doubletalk: Our ministers' worth are more than any of those
countries' leaders in the List of developed countries (UN
data) with lower Gini Coefficient than Singapore's 42.5!
Correct me.
Singapore has not even achieve developed country status and yet the govt think so highly of itself and price itself more than any govt of developed countries. Shameless? Overpaid undeserving ministers. Ethnic Chinese all around the world can prosper without the need of LKY or PAP. -
Originally posted by wheelcamp:
Singapore has not even achieve developed country status and yet the govt think so highly of itself and price itself more than any govt of developed countries. Shameless? Overpaid undeserving ministers. Ethnic Chinese all around the world can prosper without the need of LKY or PAP.
... that's the main reason why Ethnic Chinese around the world CAN prosper - they don'thave them...! -
You mean self gory not self glory.
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Massive 275,000 hits for MDA video
SINCE its appearance on video-sharing site YouTube in November last year, the Media Development Agency (MDA)'s rap video has now reaped close to a staggering 275,000 hits. It has also garnered 1,500 comments.Said Jaster86 on Stomp: "Hey! This is MDA, man. If they are bending some rules and breaking some conventions, it's an awesome welcome."
It's safe to say that the MDA's first promotional rap video was a hit with netizens last year, both locally and overseas.
The video even landed at No. 6 on the Viral Video's "funny" clips list, just six days after it was posted online on Nov 22.
The chart, at www.viralvideochart. com, not only tracks how often a clip is viewed but also counts the number of links from blogs worldwide.
When contacted, the agency told my paper: "The rap video has attracted much interest from around the world. We are happy at the discussion generated as it has helped to raise awareness of Singapore's media industry."
In the February issue of the monthly PS21 newsletter, Challenge, Dr Christopher Chia, MDA's chief executive officer, said: "As a result, Singapore tremendous exposure from many foreign media reports and agencies, including UK's The Times, Reuters...
"The South China Morning Post even ran a commentary by its foreign editor, who commended the rap video as a successful effort at changing the prevailing perception that civil servants are dull and humourless."
The PS21 Office was set up under the Public Service Division of the Prime Minister's Office to nurture a culture of change in the public service.
Despite its new-found fame, the MDA video has received some mixed reviews. Dr Chia explained that the varied public reaction to the video "is understandable".
"When you try new ways to communicate, there will be people who appreciate your efforts and those who do not," he said.
The video has been seen by many as a positive example of leadership within the MDA.
The clip was played at the PS21 ExCEL Convention last November where the head of civil service, Mr Peter Ho, said: "We... want leaders who can be examples themselves and are not afraid to lead changes and experimentation."
The convention showcases suggestions and projects in the civil service that help improve the way it is run.
Initially meant for an internal staff conference in April last year, the clip was later sent to industry members with the media regulator's annual report and was uploaded onto the MDA website.
Since then, the MDA website has been visited twice as often.
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Thu, Feb 21, 2008
my paperCoolsville, Singapore
SINGAPORE usually tops charts in economic growth and political stability but, now, it has to get used to being
called one of the most happening places on Earth, too.A recent slew of international surveys and rankings has thrust the city-state into Coolsville status.
The most recent is the annual Zeitgeist Ranking by Hub Culture, an American-based online community-and-travel guide, where Singapore is No. 17.
Published last month and collated from feedback among its members, this list puts the country in the league of "edgy" cities like Los Angeles (No. 1), Berlin (No. 2) and Tokyo (No. 5).Hub Culture's ranking is based on the premise that there is "a place where innovation, change and vibe combine to create the place of the moment".
Singapore also landed at No. 17 in a pick of the world's top 20 most liveable cities by hip London-based news-and-lifestyle magazine, Monocle, last year.
The magazine was started by Wallpaper* founder Tyler Brule.
Munich is No. 1 and Copenhagen, No. 2, on the list. Only two other Asian cities made it - Tokyo (No. 4) and Kyoto (No. 14).
Hub Culture wrote: "Singapore may appear boring, but it certainly packs some punch.
"Whether stepping up to the financial plate globally or announcing another outlandish designer building project, the tiny city-state continues innovation at themacro level, providing economic security and iced whipped chai for its people in an ever more turbulent world."
In local lingo, "iced whipped chai" is known as teh ping.
As for Monocle, it calls Singapore's facilities "first-rate" and notes its "cultural boom".
It cites local architects who have made their mark internationally, and credits much of this development to the returnof Singaporeans who have worked or studied overseas.
Readers my paper spoke to are glad that the country's coolness quotient has risen.
Architect Randy Chan, 38, said that "Singaporeans are getting more confident of themselves", citing talents in creative fields winning global awards.
Demand analyst Fabian Lua said the country "is good on infrastructure and economic foundation, thanks to the government".
Ms Sacha Santiago, 30, an accounts manager in an agency, moved here from the Philippines.
he said: "I chose to come here because among other things, the transport is efficient and there's a culture of appreciation of food and drinks."
Film-maker Desmond Tan, 33, felt "these lists are indicators of where we are heading".
"We're a young country still discovering how to better ourselves," he said.
"We're getting there."
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Minister Balakrishnan says S'pore is a model of Olympic values
By Lynda Hong, Channel NewsAsia | Posted: 20 February 2008 1828 hrs
SINGAPORE: Singapore is a real-life working model of Olympic values in practice, said Minister for Community Development, Youth and Sports, Dr Vivian Balakrishnan as he responded to a question on what Singapore has to offer, to host the Youth Olympic Games.
The Minister was launching the Junior Reach Ambassadors' programme. Some 140 youths aged between 15 and 20 years attended the event.
Dr Balakrishnan added that Singaporeans can show the world a future where young people have respect for diversity and a drive for excellence. And these values are similar to the principles of the Games.
The Junior Reach Ambassadors' programme is a part of the restructured Feedback Unit to gather feedback from various groups of Singaporeans.
Dr Balakrishnan said: "I think young Singaporeans can show the world a glimpse into a future where young people have respect for diversity, a future where young people pursue excellence.
"And these are some of the fundamental values of Olympicism. And I felt that Singapore is a real-life working model of Olympic values in practice. That's why I wanted it here," he added.
Many athletes and sports officials believe that winning this bid could trigger a sporting revolution, boost the city's sports culture and most importantly forge a greater sense of Olympic spirit in the country and the region. -CNA/vm
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I've always read Straits times wif a mind filter though. all the self prasing shit, i ain't believing everything in dem.
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Singapore is the best place in the world to live.
Yeah.
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we`ve got the most uncorrupted ministers who raises their pay as and when they want!