Foreign wealth widens inequality in Singapore | News | Al Jazeera

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


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