How Much Does It Take To Live In Singapore?
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If you are partnered parents with two school-going children, you will
need a minimum of $6,426 per month to live with dignity in Singapore. If
you are a single parent with one child, you will need $3,218 per month.
And if you are a single elderly person, you will need $1,421 per month.
These are the findings in the recent report
released by a team of Singaporean researchers. Using a consensus-based
methodology known as Minimum Income Standards (MIS), which is sensitive
to local contexts, the researchers have determined the household budgets
necessary to meet basic needs. They also suggest that "a reasonable
starting point for a living wage in Singapore is $2,906 per month."
Although the median work income among all workers in 2020 exceeded this
amount by 56%, the median work income for cleaners, laborers, and
related workers were less than half of what is needed. The median earner in services and sales earned only 73% of what is needed.
The patchwork of government tax benefits and financial aid schemes does
not make up for the shortfall, the researchers concluded. The thresholds
are often too high and the quanta too small. The Singapore government
has a duty to respond to this insightful report by overhauling the
current system so as to meet the needs of the most vulnerable members of
society. Only then can it claim to be working for all Singaporeans.
Jee Leong Koh
October 14, 2021
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