Cost of living: Govt aware of concerns
AUG 23, 2004Cost of living: Govt aware of concerns
PRIME Minister Lee Hsien Loong last night showed that he was well aware of Singaporeans' concerns about the cost of living.
He promised practical ways to help the poor, including a suggestion to install CashCard-operated electricity systems so struggling families could pay for electricity according to what they use.
It could be a better option than periodically getting their electricity cut off, he said.
He conceded yesterday that some prices had risen over the years.
Electricity prices were up because of rising oil prices. Service and conservancy charges were up because they had not be adjusted for many years.
But overall, prices have been stable, he noted.
But people are still worried and for most, he said, it is because wages are down, along with bonuses. As such, Singaporeans have had to tighten their belts and every small increase hurts.
Another source of anxiety: rising medical costs.
Singaporeans have Medisave, which is a good scheme, said PM Lee.
But MediShield insurance, which is meant to help in unexpected medical situations, may not be adequate. 'We need to improve MediShield to make it more effective. Health Minister Khaw Boon Wan is working on this,' he said.
Mr Khaw's plan includes executing a long-overdue hike in MediShield premiums and payouts proportionately to better reflect current health-care costs.
Anxiety about the cost of living is also due to rising expectations, PM Lee said. For example, many struggling individuals still use air-conditioners at home and own mobile phones.
'Nothing wrong in wanting these comforts and conveniences, but one must realise their cost,' he added.
The low-income households were especially anxious - for them, every increase, however small, is unwelcome. For them, PM Lee pledged financial assistance and job-matching schemes, among other moves.
'But the best solution to rising costs,' he concluded, 'is to raise income through growth.'
Copyright @ 2004 Singapore Press Holdings. All rights reserved.
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