Singapore was recently ranked no.1 for being the most expensive city in the world. The Gov.sg website responded to this by saying that it does not actually reflect the cost of living in Singapore.
Gov.sg explained that the survey was designed for HR managers all over the world to calculate compensation packages for foreign expats. Furthermore, it was based on prices of a fixed set of products such as raincoats and foreign publications, both of which are not commonly consumed by Singaporeans. What’s more, prices of such goods were converted to US dollars to facilitate comparisons from cities all over the world. As the SGD has been strong lately, we were naturally ranked high on the list.
These are Gov.sg’s reasons as to why the survey does not accurately reflect the cost of living here. It implied that Singapore may not be as expensive as it was made out to be, and that the government already took measures to help people cope. Examples include the Assurance Package, which provides relief to lower and middle-income households, and lowered barriers of entry for Singaporeans to enjoy more competitive prices.
Here comes the clincher:
The Government recognises Singaporeans’ cost of living concerns and will continue to monitor the situation closely and support Singaporeans through these challenging times.
Way to dismiss an international survey and convince us that they are doing a good job. Instead of “monitoring the situation”, the government should be upfront, acknowledge what needs to be acknowledged and proactively solve our cost of living problems. Their excuse of “monitoring the situation” has been used too many times in all kinds of situations. It is lost on Singaporeans and we will not be convinced as long as they continue to let themselves remain out of touch.