Another round of inflation if companies increase wages

SINGAPORE : Finance Minister Tharman Shanmugaratnam has warned that Singapore could face another round of inflation if companies increase wages to help workers cope with the higher cost of living today.


He said this will also affect Singapore’s competitiveness and the ability to create jobs.

Mr Tharman was speaking to some 500 workers at the Singapore Industrial and Services Employees’ Union dinner on Wednesday evening.

Higher rice and oil prices have led some Singaporeans to call on the government to set the tone by raising wages.

But Mr Tharman said such short—term measures are not prudent. Instead, he said the government has provided assistance to help Singaporeans deal with the higher cost of living.

These include S$500 million in GST Credits — to help citizens cope with the increased Goods and Services Tax — and special bonuses for senior citizens.

Mr Tharman said Singapore also addresses the problem of inflation mainly through its exchange rate policy. Since the beginning of last year, the Singapore dollar has appreciated by 11 per cent against the US dollar.

However, the minister said there is a limit to how much Singapore can allow its dollar to rise to fight inflation. Mr Tharman said if Singapore dramatically strengthens its dollar to offset the higher prices, it will instead hurt economic growth badly.

He said oil prices have increased by 50 per cent since the start of this year. And it has gone up by about 100 per cent compared to a year go. Food prices globally are now up to 60 per cent higher than one year ago.

Mr Tharman cautioned Singaporeans to brace themselves as oil prices may increase further.

He said, "We expect inflation to be between 5—6 per cent on average this year, with inflation being lower towards the end of the year. We also expect inflation in the second half of the year to be lower because the effects of last July’s GST increase on inflation will wear out.

"However, the recent sharp increase in global oil prices will add pressure on inflation. So we are monitoring this and the impact on inflation closely, and will decide if inflation forecasts for this year need to be revised."

Looking at the global situation, Mr Tharman said the weakness in the US economy could extend into next year. But he maintains that Singapore can expect Gross Domestic Product growth to average between four and six per cent this year.

Mr Tharman said the lasting solution to inflation is to continue with efforts to help workers upgrade their skills and earn better wages.

He said it is also important to help experienced, mature workers stay employed and help home—makers get back to work. This will not only increase the household income, but help improve Singapore’s tight labour market. — CNA/ms

Increase in pay = Inflation? That what about the massive wages increment early this year?

Post for me

I just received my free samples from Fr3b. They are so efficient and that is great. (=D) Will try out the samples soon. Hehe. Those who are worried about whether the website is a scam, not to worry as I got my stuffs alright. (=])

At the same time, I received my post about HOTA. I think most of you should know about HOTA since it made a big hoo-haa a few years ago. HOTA is an act for organ donation in Singapore. Anyone aged between 21 to 60 will automatically be included in this scheme and Muslim will be included starting 1st August 2008. Told my mum I don't wish to opt out and she was quite shock. (=P) Hehe. She asked me why and I told her when I (*choy) die, it doesn't matters to me anymore. If I can save someone after I (*choy) die, it will be good. (>.<) Anyone else thinks this way too?


EYESHADOW SPREE STILL ON TILL FRIDAY (27 JUNE 2008) 12 NOON!

Fr3b

Introduce this website to all of you here in Singapore. This website provides free sample for you to try and all you need to pay for is the postage. I feel that this is a good idea as people usually spend a lot just to sample a new product so why not try out this website? Only con now is there aren't many products up there. So click and join for free samples. (=>)

Tampines residents have to give way to cyclists

Tampines bicycle trail



I am a resident in Tampines and has been told to give way to cyclists.





While my family was watching the news just now, my father suddenly flared up and started discussing with my mother regarding this "Give way to cyclists" rule.



Basically, pedestrians have to give way to the cyclists as and when the cyclists need to pass.






I personally feel that this rule is STUPIDLY and VAGUELY imposed.



WHY?




Last year, my grandfather was knocked down by a cyclist while he was alighting at the bus stop. The cyclist did not stop but continued to ride on ignoring the fact that he had knocked down my grandfather. My grandfather was sent to the hospital as a result of this and we never did find out who is the irresponsible cyclist.

My father also experienced the similar acts many times when he alight from the bus.




Mind you, this ALWAYS happens in Tampines. When I go to other areas, the cyclists will ride BEHIND the bus stop and USUALLY NOT at the edge of the bus stop.



Now, if the cyclist fell while riding at the edge of the bus stop, who will he cause inconvenience to?


Pedestrians, public transport users and bus captains.


Will the cyclist have to bear any responsibility for it?
I doubt.




Some, or should I say, majority of the cyclists in Tampines really have no common sense and the slightest knowledge or idea that they shouldn't ride at the edge of the bus stop where public transport users board and alight from the vehicles.





Giving way to cyclists is so common in Tampines that there are cyclists who ride their bicycles into the narrow walk way in the market and along the pathway outside the shophouses.




What do these cyclists do so that they make things convenient to themselves?

Ring the bell and pedestrians have to give way.





Now, let's think about it.



If you are knocked down by a vehicle that is not following the rules, even when the driver refuse to stop, there is a car plate number to track him down.


If you are knocked down by a bicycle, what is there for you to track the cyclist down?


On top of it, a driver has car insurance to compensate the victim, leaving records, but a cyclist may not bear the responsibility because you cannot track them down and you will never know if the cyclist had been involved in similar cases before.




I had been in various discussions with my friends regarding cyclists. The only conclusion we came to is:
"they wanted to enjoy both the rights of a pedestrian and a vehicle driver"


I ever saw cyclists riding IN THE MIDDLE OF THE ROAD.


Cyclists riding on the EXPRESSWAY is also nothing strange now.


Cyclists IGNORING THE TRAFFIC LIGHTS and just ride across the road without taking note of vehicles coming from the other side.



Sometimes I wonder, what is the Tampines bicycle trail for when the cyclists don't make use of it?

Is it for show?
Or is it because pedestrians should give way to cyclists and therefore cyclists should take advantage of it?



Our government support cyclists and construct bicycle trail.



BUT


Isn't the security and safety of the pedestrians equally important and should be considered?
Why aren't there rules to protect the pedestrians from cyclists but rules to encourage pedestrians to accommodate the cyclists?



These inconsiderate actions of cyclists definitely do not only belongs to Tampines but every single part of Singapore.



So, when will we, the pedestrians, be protected?