“How can we say we’re successful in targeting poverty or not if we don’t have the most basic of indicators for evaluating it?” — Jamus Lim
Singapore has an international reputation for being an exceedingly rich country. With movies like “Crazy Rich Asians” and gleaming skyscrapers, this wealthy city-state persona is cemented. Indeed, it has been reported that while the number of very rich people around the globe dropped by 3.8 per cent in 2022, Singapore has bucked that trend with aYup, you heard right.
The Sengkang MP points out that we may not even have an objective marker for poverty in Singapore. In other words, we don’t even know who is poor! Given that we have markers and measures for what constitutes UHNWI, it seems odd that we don’t have a similar marker for what constitutes poverty. Hence the need for an official national poverty line, which would establish who would need more support. Assoc Prof Lim added,
Some have opined that the poverty line should be set at $2,500 a month at least, but this figure could go as high as $6,400 to include “items that many would consider needs in an advanced economy”.minimum wage of $1300 proposed by the WP
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