The document discusses Singapore's economy and issues of wealth inequality and high costs of living. It notes that while economic growth depends on workers and paying Singaporeans more, the economy also requires importing foreign labor. However, relying too heavily on foreign labor drives down wages and the purchasing power of Singaporeans over time, while profits, rents, and costs of living rise. This widens the inequality gap between local and foreign workers in Singapore.

1. Economy
Ministry of Is. I Swear One!
Talented Idiots

4. Wage Share
Taxes
8%
Company
Profits Wages
50% 42%

5. Business
Owner The Money
Customer
Cycle
*disclaimer, in the real world, wealth
Worker Is affected by foreign investment,
Growth etc
Business

10. End of
Cycle 1

14. End of
Cycle 2

18. End of
Cycle 3

19. ……

20. Cycle 15….

21. Wealth Inequality

22. Inflation
Everything costs more!

23. Profits Share
Taxes
8%
Company
Profits Wages
50% 42%

24. High Cost of Living Culprits
PROFITS!
Retail Companies
Rental Companies Banks
Profit = Profit =
Few BILLION $ Profit =
Few million $ TENS OF BILLION$

25. Rental Profits!
Cost to build shops: $200 per square foot

26. Cost of rental: $20 psf PER MONTH!

27. • Cost to build shops: $200 per square foot
• Cost of rental: $20 psf PER MONTH!
– Break Even in just 10 months!
• Rent for 10 years
– Rental companies end up making 1200% profit!

28. Bank Profits!
Interest Rate: 10% per year!
After 5 years, you end up paying 60% more!

30. Economic Growth

31. Economy
=
Workers Pay
= MORE MONEY FOR
SINGAPOREANS!

32. BUT!
Economy
=
Need more people!
Not Enough S’poreans!

33. I know,
Import
Foreigners!

35. Singaporean
VS
Foreigner
• Younger
• Older •No CPF, No insurance
• Need to pay 15% CPF (by law) • No Reservist
• Need to go Reservist (by law) • No leave
• Need to take Leave (by law) • Lower Salary
• Need to pay Insurance (by law)
• Want higher salary

36. HIRED!
SACKED!

37. Labour Crunch?
• Unemployment Rate: 2.0% (MOM)
• Labour Force Participation Rate: 66%!
– 1/3 of the working Age Population is Unemployed!
• Why?

38. Where
got
2.0%
Not
Hired?

39. Result?
ECONOMY
PROFITS
MEDIAN
INCOME! Still say importing Foreigners
Improve our
Incomes?

40. Relative Cost Of Living
100
89.1 Profits
81.2 77.7
76 75 74.1 71.9
49.2
42.4
33.7 30.1

41. Relative Salaries
126
100
Foreign
78.8 81.6 78
Workers
54.5
43.3
35
19.2
14.5
7.6 9.5

42. Relative Purchasing Power
106.9
100
88.8
80.4
Singaporeans
75.8
66.1 Are getting
61.2
POORER!
40.4 40.6
25 22.5
15.7