The total amount of deposits forfeited in the 2025 GE is $364,500. This works out to be more than $10k per opposition candidate. The total cost to a losing candidate that lost his deposit would be at least $20 per head to participate in the election. And this does not include the time and other resources needed, the hard work of campaigning and walking the ground.
What is the motivation of these candidates to work so hard, to pay so much to run an election when the chances of winning is very slim? Are they doing it for altruistic reason, for Singapore, to serve the people? These are very honourable goals for the candidates to pursue, selfless and big sacrifices.
From another angle, it is like going to the casino to place their bets. The winnings, about $200,000 per annum for 5 years as an MP, ie about $1m in rewards. $20,000 bet for a million is better than the winnings in a roulette table that pays 1 to 36. If they can make it to be a minister, that is where the jackpot is. Looking at the CVs of most of the candidates, other than business owners, barely a handful would be able to make $500k a year.
The winning ratio would be much higher if placing the same amount for a Toto bet when the winnings could be $5m or more. No need for all the hard work and walking the ground and to put up a smiling face to all the hoi polloi.
To many of the candidates, throwing down $20k or more for an election is not a small sum. For the political parties, losing the deposit of a GRC is $67,500 each. They need deep pockets to finance such enterprise. Hopefully they are getting sound financial support from their supporters.
Would the opposition parties continue to come back every GE to place their bets and be willing to lose their deposits again and again? Would they continue to make sacrifices to serve the people and country?
Perhaps the payout should be tweaked so that there will be less punters trying their luck in future GE. After all, $200k for a part time job is a huge sum of money for the punters. Very likely 90% of Singaporeans could not earn $100k a year in full time jobs, and 70% of Singaporeans are earning less than $70k working full time.
And MP job is only part time and still earning big money in their full time occupation. If the fly by night punters find the payout is not enough for their trouble, they may not want to risk $20k running for an election. The GE would then be contested by people sincerely wanting to contribute to the nation's well being.
What do you think?
2 comments:
The problem is if you set the deposit too high, then only rich people will become our G (just like MAGA). I know it hard to have a level playing field for any ah beng, ah lian or ah gua to become MP. Therefore it is better to change the system to one that is not political party based. Perhap use the china system & change it to suite our local contact.
Yes, just like USA. If you are poor, with no campaign donors, you can never become a political leader. That position is only reserved for the rich or subsidized by very rich backers. In time to come, only the rich or those supported by the rich can rule.
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