A Short Analysis Written To The Singapore Government About Restoring Payscale.
Dear Government of Singapore,
Salaries in Singapore Were Reduced To Half in 2006, in an effort to make businesses profitable on Profit & Loss Statements. The middle managements’ fear during Recession was that a Negative Business Cashflow would result in broken rice bowls for staff.
My Father’s GM General Manager’s Salary was $24K in the past — 1995; the General Manager’s Pay at CGG Veritas was cut in half to $16K in 2006. My Father is retired now. It’s up to me to make money….
There was an invisible paycut of minus -50% salary to survive the Recession in 2007? But… they haven’t restored the population’s pay to full payscale.
You must restore the salary payscale. People are underpaid for tooooo loooong. Furthermore, most businesses have gone GA Government-Assisted Business Model to Survive.
Payscale to the people should be restored. Double salary (a full 100% instead of 50%) is the minimum required to survive a family comfortably.
Why Don’t Be Afraid To Pay The Population
If you double peoples’ salaries, they spend their money at your Nation’s businesses. Money flows from the peoples’ expenditures back into the businesses’ bank accounts. Usually business profit returns are 25 to 100 times the cost of the product. When businesses pay $2 for an item, they sell it for $50. Business profit on the sale is $48. Businesses earn the populations’ money back at a leveraged amount. No matter what you pay the people, the money just flows back into the businesses’ bank accounts.
Singapore suffers from an ageing population and a lack of cash for sustenance. To keep the population affluent and to keep the economy flowing, restore the recession payscale back to 100% — Use Statutory Money Rights.
How Much Do Money Do We Need?
Double Salary is the minimum that Singaporeans need to cover family costs. Do a study. Case Study: Two working parents supporting 12 family members.
12 Family Members To Support On A Dual Income of $5.6K. Only two adults working. Parents and Grandparents are retired.
Dual Income Family:
Husband: Supervisor $3K (Warehousing)
Wife: Sales Assistant $2.6K (Supermarket)
12 Family Members Surviving On $5.6K
|My Own Grand Father & Grandmother||Grand In-Laws: Her Grandfather & Grandmother|
|My Father & Mother||Parents In-Law: Her Father & Mother|
|My Wife & Myself||Utility Bills, Food, Education, Transportation; Medical Care|
|Our Two Children:|
Boyboy & Ah Girl
|Total: 12 Family Members and a bank balance that is dropping every month.|
Conclusion: “Money No Enough!” At minimum… double the salaries to cover family costs comfortably. Double Salary: $5.6K x 2 = $10.6K can cover 12 family members well.
Three Actions To Consider:
- Government Mandate to businesses to double salaries — Restoring Singapore Payscale to 100%.
- GA Government-Assisted Business Support for all businesses big and small. (Mine included. :p)
- Old people who are retired should be given Staple Citizen Credits or Pensions to cover living costs like basic necessities. Bad situation: Old with no income and having no offspring.
“Ai eia mai pia… wa jin aei eiaaaa….” (To Succeed, Don’t Have Sexual Promiscuity, I Can Succeed!) Now… I have no children… to take care of me….
These are the struggles of the people I know from helping many through my Angel Consultation sessions. Please consider these truths, Singapore Government. The People Thank You!
Conclusion: During Recessions, companies execute their own paycuts to save money to survive. After Recession, they neglect to restore salary payscales. The people are suffering from a lack of sustenance because of ruthless paycutting and retrenchment without payscale restoration. This behaviour was evident in several world recessions already. Government Fiscal Stimulus is required to restore payscale.
Appendix A: Recession Paycuts 2006 – 2009 (hyperlink)
Appendix B: Covid-19 Recession Paycuts 2020 (hyperlink)