by Chris Kuan
National Day Rally navel staring at housing policy. Sincerely, it is true that it is good to be proven, not only of course, – the prime minister said that the lease for 99 years is not possible for the government to recycle land. This means that the government deserves revenues from land sales time and time again, but what he does not say is that if the 99-year-old HDB lease allows the government to do this, why should the sheer restraint to a part of the remaining 50% of use the corrected inflation income from the reserves to finance things such as healthcare, financing of social security such as Careshield and Medishield, Comcare and Silver Support Schemes?
In other words, if land reclamation allows the reserves to continue to grow, why should the remaining $ 15b of income be retained in the light of urgent social security needs? No picture, no sound. He will skip this.
The Prime Minister also said that the lease of 99 years is also just for future generations, because they remained free, then owners can pass on to their descendants and eventually the society will be divided between owners and people who can not be owned. He added that "the most unequal and social division" would be.
This is of course true, which is why you have really argued to leave the issue of HDB lease alone, and that existing monetization programs would be sufficient, but the money earned with the sale of HDB leases is mainly of pension savings.
That is why I have also argued that these funds should be returned in the form of social security financing in order to reduce the negative impact of blocking pension savings for housing. Again, why would you keep the remaining inflation-adjusted income from the reserves, as CPF and the savings on households that are transferred to the government treasury through the housing medium make an important contribution.
However, as far as the question of honesty, inequality and social division is concerned, what the Prime Minister does not recognize is that we really exchange one form of honesty for another form. The HDB lease can be "just" for future generations, but this causes unfairness and social divisions between HDB leaseholders who are faced with the security of their property recovered by the state without compensation and free holders who are not faced with this risk and be able to transfer their property to their offspring.
This already creates haves and have-nots anyway and you have to wonder what the reluctance is to return estate tasks given the Premier's concerns about "honesty". So being honest with future generations should not be taken for granted. Moreover, future generations will be smaller in view of the demographic data.
This entry was posted in Housing, Opinion.