Economist Walter Theseira suggested to stop using CPF to pay for housing

Update: Walter has clarified his original views on this issue. Click here to read his views in context.


In case you’re too busy following the Malaysia General Elections, here’s what you missed about President Halimah’s opening Parliament speech.

She called for bold changes to help Singapore chart a different future.

Some experts, non-governmental groups and former MPs had very big, daring ideas – take a look below on who said what.

Walter Theseira, Singapore University of Social Sciences labour economist

  • Stop using CPF to pay for housing so Singaporeans have enough for retirement
  • Value of homes may drop as people age so it may affect our retirement adequacy
  • Introduce capital gains tax so employees don’t have to pay more tax than people who rely on investments

Dr Angelique Chan, Duke-NUS Medical School

  • Government should provide a caregiver allowance for people who quit their job to look after their aging parents
  • Government will pay more if the elderly end up in homes

Association of Women for Action and Research (AWARE)

  • Relax HDB policy for divorced parents to rent flats without being banned for 30 months
  • Unmarried mothers should be allowed to form a family nucleus with their children to buy homes

Assistant Professor Irene Ng, National University of Singapore Department of Social Work

  • Give every household free data plan and mobile device
  • Internet is a necessity in the modern world

Ku Swee Yong, International Property Advisor Chief Executive

  • Allow driverless vehicles on our roads more quickly

Inderjit Singh, former People’s Action Party MP

  • Help local firms become big multinationals
  • Focus on local enterprises and SMEs
  • If they move their operations overseas, money can still be brought back here

Harish Pillay, Singapore Computer Society council member

  • Include computational thinking into primary school syllabus
  • Help students think logically and develop problem-solving skills
  • Focus more on skills, less on academics

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