Removing ABSD will widenwealth gap

Holland-Bukit Timah GRC MP Christopher de Souza has called for the removal of the Additional Buyer's Stamp Duty (ABSD) for Singaporeans ("Tackling slowdown with help in job searches, worker levies"; Tuesday).

Relaxing this property curb is unlikely to benefit most Singaporeans, as the additional stamp duty applies only to those buying their second or third property.

Only the more well to do people will enjoy the benefit of this cooling measure being relaxed.

Allowing them to buy property with greater ease will drive up property prices and widen the wealth gap.

This will breed discontent among the people.

Poh Hao Jie

A version of this article appeared in the print edition of The Straits Times on January 28, 2016, with the headline 'Removing ABSD will widenwealth gap'. Print Edition | Subscribe