THE current contentious issue on the affordability of public housing was given another airing by Minister Mentor Lee Kuan Yew who cautioned Singaporeans not to cast a protest vote against the ruling party over this.

As Singaporeans lament rising flat prices, he said they ought to understand that the Government sells them at a subsidised price, below market rate, so that they can own an asset that will appreciate in value over the years.

It adds to their wealth and this is an asset-enhancing policy Mr Lee believes citizens should not find fault with.

No to more rental housing

BUILDING more flats for rent could ease the burden on younger Singaporeans starting out in life - just as it could help others invest their resources in developing their businesses.

The idea of increasing the Housing Board's pool of rental flats to help those Singaporeans concerned about affordable housing, was put to Minister Mentor Lee Kuan Yew at a conference yesterday.

But he was quick to disagree, arguing that it was tantamount to putting the HDB in a position of subsidising rents indefinitely. It would also create a 'dependency group' - those constantly dependent on the Government and on subsidies.

Light moment at the dialogue

Minister Mentor Lee Kuan Yew: 'I was on an SIA flight coming home and the air hostess who was serving me, I saw she had a wedding ring, so I said, 'Any children?' She said, 'Not yet.' I said, 'What are you waiting for?' She said, 'For my flat.' So I said, 'Have you got one?' She said, 'Yes, I've got one at Pinnacle@Duxton, on the 48th floor. And I got it on the first booking.' (That's) when the price was lowest. So I said, 'Well, remember that when voting comes.' '

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