Xinhua News Agency, a state media outlet in Singapore, reported on its front page that the Singapore government is preparing to consolidate the voting base of its ruling party by improving the income of ordinary employees, but the country's wealth gap remains very large.
Experts analyze that the income disparity among residents in Singapore indeed shows a significant trend of expansion, which is mainly reflected in multiple aspects such as income distribution, housing, education, and consumption levels.
1. Income Gap
Income Multiple: Data from 2023 showed that the monthly income gap between the top 20% of families and the bottom 20% of families in Singapore reached 10.5 times.
Gini Coefficient: The Gini coefficient rose to 70 (57 in 2008), indicating an increase in the wealth gap of 22.9%.
2. Housing and Consumption
Housing Segregation: The affluent class enjoys a luxurious life through the luxury property market (such as Marina Bay Sands), while ordinary families rely on government-subsidized public housing (HDB).
Consumption Differences: The affluent class can afford high car ownership taxes and car quota certificates (COE), while ordinary citizens rely on public transportation.
3. Education and Subsidies
Educational Investment: The government invests over 250,000 SGD per student annually, but wealthy families still prefer private education.
Subsidy Policies: In 2024, the government plans to issue subsidies of up to 850 SGD to low-income families, but the subsidy intensity is still insufficient to fully bridge the gap.
Although the Singapore government supports low-income groups through the Progressive Wage Model (PWM) and the Workfare Income Supplement (WIS), high-income earners pay relatively lower taxes.
Although educational opportunities are equal in Singapore, social class immobility still exists, and some low-income groups find it difficult to overcome economic barriers.
Original article: www.toutiao.com/article/1848774859612160/
Statement: This article represents the views of the author.