[Scythian]

The statistics speak for itself 
Credit Suisse recently published a report that the number of millionaires in Singapore is predicted to increase by 62% by 2025. Beyond the headlines, the report also painted a stark picture for inequality in Singapore—that the top 1% controlled 34% of all wealth in the country. 

That is an immense amount of wealth concentrated in the hands of a few. Compare that figure with 18% in Japan, 24% in Korea, 28% in Taiwan, and even 30% in capitalist United States and the problem becomes more evident.

In other news, while the Singapore government rolled out multiple rounds of economic aid over the past year to keep people in their jobs and the economy on life support, the housing market saw non-stop growth utterly unheard of in such dire times, with 19 HDB flats being sold for over a million dollars in June 2021 alone. All this as the ultra-high net worth club in Singapore grew 10% during the pandemic.

Meanwhile, 1.7% of the Singapore workforce earn below S$1,300 every month and struggle to make ends meet.

The difference between the haves and the have nots in Singapore have never been wider.