Re: Different COEs for Singaporeans and foreigners?
Guys, I believe there's a lack of communcation between the ministries. Yesterday, at the SDP rally, Tan Jee Say ex princial private sec for Goh Chock Tong said that in Cabinet meetings, it is often just a dialogue between father and son and sometimes monologue by father himself.
The following is an example (disclaimer: it is just a analysis done by myself and I do not have any substantiating evidence!):
I think in 2006, our govt had approved the construction of the 2 IRs. As they were massive projects, all the resources, construction companies, equipment materials, workers were concentrated on these 2 projects. I was at that time researching quite abit into the construction industry and as we all know, Koh Bros, Chip Eng Seng, Lian Beng, Tat Hong, Yong Nam etc... were busy focusing on it. I remembered the spot rate for cranes quoted by Tat Hong sky-rocketed. I think it is quite obvious if u go down to marina or sentosa and start counting the cranes, you would know what I mean. This led to lesser resources to build our HDB, or it is probably very costly to built. The shortage of sand and rising steel prices did not help things.
Even though the construction of HDBs was drastically reduced from 2007-2009, the govt had allowed huge influx of foreigners and also giving away PRships. I am not sure if they had anticipated this, but with hundreds of thousands of foreign imports, there would be lack of housing supply. Hence, driving resale prices higher. I believe, the transport ministry also could not increase their road and public transport structure in the short run, so leading to congestion on our roads as well as public transport.
I think the influx of foreigners have driven up housing and car cost considerably. If the govt had not seen this coming, the least they should do is charge premium for foreigners/PRs and for COE, there should be different quota set aside for Citizens and non locals.