On 11 October, The Straits Times Insight section discussed proposed changes to the Constitution to allow the Government to tap more of the returns from investing the reserves. The ST asked readers what they thought of the plan and what concerns they had about the changes.
A friend of mine wrote in, but the editor left out some of the important points he wanted to get across. Here is the full version which I obtained from him. The text in red were the omitted parts.
The government should play a more positive and active role in managing all the price increases that have been coming up since the end of the first quarter of 2008. I believe Singapore based monopolies and especially those that are government linked have taken advantage with all the increases that have and are affecting the common man in the street.
It can be easily observed that all this started since the end of the first quarter 2008 euphoria, of a healthy economy. There has been no let down. This is compounded with the highest inflation rate Singapore is experiencing now.
The financial meltdown has only escalated and enhanced this. To blame it all on the financial meltdown would be naïve as the government is in control of all the other increases that have been shoved down the common man.
Every time a price increase is announced the government announces a relief package. Why don’t we go back to the source? Prevention is better than cure.
Ajit Singh Nagpal