Sunday, November 9, 2008

Town Council use our money to invest???

The fall of Lehman caused lotsa revelation throughout the world; from regulations to the over-deregulations, as well as what the mini-bond is all about. A few days ago, something new is revealed by the crash of the giant: Town Councils investments.

I am totally caught off guard that the money we paid to the Town Council is used to do investment.

What does that means? That our public fund is actually more than what they really need to service our town needs? Then why collect so much at the first place? Why arent we paying for what we need than always paying more than what is required, as a result, having enough surplus to do huge investments (one of the town council is actually a major share owner of Creative).

Come on... What is the job of the Town Council. We must be very clear here. No matter how you look at it, investment with people's money is never their job. We have CPF, GIC, even Temasek, not withstanding insurance, personal investments etc... Not to forget, the Government already collecting tax from GST, ERP, Income Tax, COE, etc... Still not enough money to serve Singaporeans???

I always wondered how the Worker's Party's Town Council able to collect so little money from their people while PAP's need to collect so much more. And eventually, Hougang under Worker's Party actually looks more beautiful and cleaner as compared to the other half of Hougang New Town.

Town Councils should collect just enough for the upcoming projects and planned projects. If there are surplus, then they should reduce the amount collected thus not putting additional pressures on the people, especially those who are earning hardly enough to save.

I had enough of seeing those Ah Ma and Ah Peks digging rubbish bins for used aluminium cans. The Government is formed to serve Singaporeans, not to make profits after profits without giving back to the people in substantial ways. (not by giving cash that you would eventually tax back)

If got excess money, keep it or invest it (on 100% guaranteed safe investments) until the next collection, and reduce the collection for the next round. There should not be over-collection on the part of the Town Councils, and if there is any ad hoc need of additional funds, it should be gotten from the Government or relevant ministries. 


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