Foreign wealth widens inequality in Singapore

Low tax rate an incentive for foreign investors, but it also means no social protection for city-state's poor.

    Singapore's lower-class citizens are losing out to foreign workers as the affluent move in.

    Many wealthy individuals come to invest in property and park their assets, attracted by Singapore's low taxation rate of 20 percent.

    The influx of money is making Singapore one of the richest cities in the world. But the low tax rate also means no social security net, given the plummeting wages among the poor as foreigners take up blue-collar jobs.

    Al Jazeera's Drew Ambrose reports from Singapore.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    'We scoured for days without sleeping, just clothes on our backs'

    'We scoured for days without sleeping, just clothes on our backs'

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Unification: Saladin and the Fall of Jerusalem

    Unification: Saladin and the Fall of Jerusalem

    We explore how Salah Ed-Din unified the Muslim states and recaptured the holy city of Jerusalem from the crusaders.