The wealth gap in Singapore is widening. More families are having problems making ends meet. Singapore has the world’s highest per capita GDP. But income inequality here has risen sharply since 2000, posing a number of issues for the country. ONE (SINGAPORE) and the Wee Kim Wee Centre invited Mdm Halimah Yacob, Leong Sze Hian and Nicole Seah to discuss this issue and explore practical solutions. This resource page includes a number of related articles and videos.
Reducing the Income Gap: Finding Practical Solutions
ONE (SINGAPORE) asks people on the street for their take about income inequality.
Mdm Halimah Yacob
Minister of State, MCYS
Income inequality is a matter of concern for policy makers, notes Minister of State Mdm Halimah Yacob. But there is no silver bullet. And we need to measure inequality not just by income but also by access to education and health care.
Leong Sze Hian
Writer and Financial Analyst
With the gap between rich and poor widening, financial advisor and commentator Leong Sze Hian focuses on four key areas where new policies – or in some cases, a return to previous rules – could reduce the income gap, increase purchasing power and ensure that catastrophic illnesses do not also bankrupt families.
“Proposals to narrow income gap fly thick and fast at forum"
Calibrate foreign labour policies. Continue social transfers. Invest more in education and healthcare. These were among the ideas put forth at a forum on how the income gap in Singapore could be addressed, writes Yahoo!’s Jeanette Tan.s.
“Minimum wage not the solution to wealth gap”
The jury may still be out on a minimum wage here, but panelists at ONE (SINGAPORE)’s discussion agreed that having one wouldn’t solve the inequality problem, writes Derrick Hoon the Straits Times’ Singapolitics blog.
Some Facts about Income Inequality