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Prices have gone up, so have expectations

Published on Sep 27, 2012 11:16 AM
 

A low tax regime, and not direct assistance, is the main way the Government is helping the middle class cope with rising costs.

Even though many in this group may not realise it, they are taking home more of their pay than counterparts in other countries with higher tax rates,said Prime Minister Lee Hsien Loong.

And while he acknowledged that prices have indeed risen, the PM also suggested that part of the cause is that expectations are rising and some people are buying more things than they used to.

"Expectations, buying things which you didn't use to buy, I think are a big part of why people feel housing costs (and the) cost of living have gone up," he said.

 
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Background story

WANTING THE BEST AND THE LATEST

A lot of Singaporeans feel they must have the latest and best. And that adds to the pressure of why you feel qian bu gou yong – money no enough.

– PM Lee