20 Apr '11, 2pm

GE: WP's proposals on public housing raises serious concerns, says Mah

SINGAPORE: National Development Minister, Mah Bow Tan, said the Worker's Party's proposals about public housing raise serious concerns which must be addressed. He added that the party's manifesto has also advocated abolishing the Elected Presidency and its motive was clearly to remove vital constitutional safeguards. This is so that the party can raid the reserves to fund irresponsible spending. In a statement, Mr Mah addressed the Workers' Party (WP) proposal on lowering HDB flat prices by pricing public housing land below its true value. Mr Mah said housing prices have risen due to the sharp economic recovery, as well as low interest rates and excess liquidity internationally. He said Singapore cannot artificially depress prices. But it can moderate the increases, by increasing supply and moderating demand. He said: "We are building 22,000 BTO flats in 2011, the most eve...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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