Training GIC Chief Economist: If top leaders are so keen on creating more equality, why is basic income policy still so pathetic?

Former Chief Economist at GIC and an Assistant Professor at the Lee Kuan Yew School of Public Policy Yeoh Lam Keong A statement made by the Minister of Trade and Industry Chan Chun Sing, questioning the lack of "concrete and effective policy action" by the Upper echelons of Singapore's leadership.

Speaking at a public policy conference last week, Mr Chan – who is rumored to be the top candidate to succeed?

Mr Chan also reminded Singaporeans to "make a clear distinction between" elites "who use their success and give back to society, and those with an" elitist attitude "who do not reach out to help their fellow man."

Mr Yeoh, in his Facebook post on Wednesday (31 Oct.), raised a relevant question: "If our top leadership is really so keen for elites to help the underprivileged in society and create more equality of opportunity, why is it [that] our basic income policy for the absolute poor is still so pathetic? "

He suggests the implementation of economic measures, such as the workfare income supplement and the support scheme by "$ 600 a month to meet the needs of low-wage earners, which" will be less than 1% of GDP require no rise in taxes, "adding that" studies show that they would not be able to reduce their work effort or to increase their ability to pay.

"Yet policy makers stubbornly refuse to be able to fund these two schemes of self-employment, and most of the working poor," lamented Mr Yeoh.

Mr Yeoh also cited Singapore's "misguided policy of excessive immigration over the 1990s and 2000-2010," which he explained resulted in "depressed wages," and "a consequence," 300-400,000 absolute poor in Singapore. "

The trainer economist further questioned: "Rather than all of this sophisticated talk on how to make the world a better place to be, or to be less conscious of socioeconomic status, most eradicate the scourge and shame of absolute poverty in Singapore? "

Mr Yeoh also criticized Mr Chan, who he suggested "is a smart, personable and generally well-meaning leader," for not having done anything the most responsible and say in such matters, "being in charge of the Ministry of Social and Family Development (MSF) and the Ministry of Culture, Community and Youth (MCCY)" nearly 3 years. "

"For our governing elites, true intelligent charity and compassion should begin with a deep policy mindset change and social policy reform at home." Otherwise, "all this kind of talk is just empty sophistry," concluded Mr Yeoh.