Import of Foreign Talent
Recently, PM Lee gave his annual speech to the nation. The The National Service Recognition Award (NSRA) was mentioned during his speech this year to provide some reward ($9,000) for Singaporean male who served National Service in their Post Secondary Education Account or CPF. I was thinking I finished my Uni Education in NUS and current working, currently spending 300 dollars everyone to repay my education loans to CPF. Could I ask PM Lee to let me use the $9000 to offset my education loan? On top of that could I get more than $9,000? I don't mind he prorate for me as I served 4 months more than the younger batch as NS in the past is 2 yrs 6 months (2 months discount for me as they just introduced 2 yrs during the days i served my NS)? Seriously. It really helps many young Singaporean man who just graduate to finish their loan repayment much faster. (approx. 2 yrs faster with interest)
Import of Foreign Talent is inevitable since the population could not replace itself to keep GDP growing and keep wages competitive. Mainly caused by abortions and low fertility rate. The government has continually urging Singaporean to marry young. However there are factors, monetary and non monetary, affecting it.
1) National Service - a default delay of 2.5yrs for older Singaporean males and 2 yrs for younger Singaporean males. Singaporean males also lost their GF because they have no money and time to keep their demanding GFs satisfied. Maybe is time for the government to start some campaigns to brainwash the girls in Singapore that is a glorious thing to serve the nation and not treat NS boys as dirts (i.e. girls in Taiwan think army boys are cool). Maybe, more guys think serving the army is not a bad thing.
2) Education Loan and Expenses- Every Singaporean is in debt after graduation. (unless you family is so rich that you don't have to pay by your own) Hence, plans for marriage delays. Many Couples dread to have children because every parent wish to provide education for their kids and education in Singapore is super duper expensive. Perhaps, using CPF to repay CPF would be a better solution. (You can't use CPF money to pay for you wedding expenses)
3) Meritocracy Society - Every Singaporean have to work damn hard to earn a 'competitive' wage. less time to pak tor. Imagine some people have to work weekends to deliver what they are tasked to do as the time during office hours are not enough to finish large amount of work. Blame it on the more the better. Perhaps, culture of work life balance must be further reinforced. 5 day work week is a good move. Maybe a more radical approach is to make working during weekend illegal for ppl working 5 day work week. =)
Hence, the import of foreign talent comes to the rescue. However, somethings I guess the government must take in factor for this method of population replacement.
1) Foreign Talent don't have to serve NS resulting better head start for them. Many of them are successful at a younger age as the education system allows them to get their degree faster and they don't serve NS back in their country
2) Some Foreign Talent don't have to pay 2o to 30k of education fees. Hence, they don't expect higher wages to pay off their debt. If they earn the same amount as a local, they are even better off than locals.
3) They don't have to pay CPF. As such they have more cash to do investment and start business as they could save more than a Singaporean whom have to put 20% of their wages in CPF and let the government earn money in investment on behalf of them.
Just some random thoughts....
