atans1

What Grace Fu can’t afford

In Political governance, Property on 08/01/2012 at 5:19 am

(or “Why PAP Ministers feel underpaid”) 

So Grace Fu for one is unhappy about her salary cut. At least , for only a few hours sadly, she had the courage to voice her unhappiness. Then she repented her outburst or rather blamed us for “misunderstanding” her? Like we “misunderstood” Han or Han “misunderstood” SMRT’s SVP? At least Han had the excuse of his use of Singlish (his spoken English, let’s face it, is rubbish) for the former.

Well she should be very upset when she compares herself to S’pore’s last Chief Minister. Last March I wrote, Someone in TR wrote that David Marshall in an interview said he was paid $8000 a month in the 1950s as Chief Minister and went on like Marshall to rant against the PAP.

Based on $8000 a month, Marshall was paid $96,000 a year. From what I understand that could buy 3 bungalow properties in a then non-fashionable area in the East, say Frankel or Opera estate. He could have some change leftover. Today, a minister earning $3m a yr, may juz be able to buy a bungalow in these areas with his annual salary.

Well, assuming Grace Fu is earning say $935,000 (her new pay grade according to Gerald Ee and his maths-challenged committee), a 25% drop, she can’t buy nothing in the area on her salary. She can’t even buy a terrace house in a nearby estate.  They are going for around $1.5m.

(Now if this piece cannot find its way into “Petir” or “Fabrications about the PAP”, then Zaqy and friends on PAP’s new media team are sleeping.  As the efforts of Zaqy and gang based on the support the PAP is getting on the Internet, is so bad I’ll end as follows)

Ah well, she can still buy one 5-room and one 4-room HDB flat or a nice private condo apartment. But taz beneath her, I’m sure she thinks.

——

(Note Tan Jee say has a house in Frankel)

Related Posts

http://atans1.wordpress.com/2011/03/18/how-many-houses-david-marshall-could-buy-on-his-salary/

http://atans1.wordpress.com/2010/12/29/property-what-a-ministers-salary-can-buy-in-1957-and-2010/

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  1. your comparison is a gd point. except tt now the east is hot. so
    we shld look at how many bungalows one could buy in some
    far-flung, unfashionable corner of the island, where the road to
    your home has pot holes and is just red earth, not metalled.

    at the time, when marshall could buy 3 houses out east, the public
    transport was v limited. there were few shops etc, no malls. (i have
    been living in the east for the last 50 yrs. it’s now a piece of crap as
    gardens are replaced by humongous homes and rows of terraced
    houses r being replaced by condos, traffic clogs the narrow roads,
    esp in telok kurau.)

    in true sporean fashion, i should add: And who’s fault is it that
    property prices r so high tt a minister’s salary can buy so little in the
    east? however, as recently, as 2009, it was pted out to me tt
    s r nathan’s salary allowed him to buy a landed property a yr. no
    location was given. prices took off about 2, 3 yrs back.

    jee say’s house in frankel is old. he’s had it for a bit. houses there,
    if they belong to those who bought one yonks ago, have one car in
    the driveway, two in quite a few cases, while those who r now purchasing
    property in the east have 4, 5 cars parked in their driveways and
    along the sides of the roads. the collection usually features one
    v pricey sports car, and a couple of luxury cars. quite a few of the
    houses r owned by foreigners. so much then for all those arguments
    about strict control on this….

    • Very gd pts.

      On cars. Ya even where I live, Porsches galore. Suspect those that those that would have bot buy old District 10, kanna priced out by PAPPies and super rich FTs.

      Maybe FTs become citizens?

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