1) Micro financing is the process of lending a small sum of money to the poor and needy, who do not qualify for bank loans. It is a long-lasting solution and allows the poor and needy to set up small businesses, which will help them as they can earn money for their families. This allows the families to buy their daily supplies and other things that they need, to let them live a simple but happy life.
2) Nevertheless, it does not eradicate poverty as some of the people cannot repay the money they owe. This may result in peer pressure if the people are borrowing the money as a group. The society will have to do more than just Micro Financing to help the poor and needy.
3) I think Singapore takes good care of the poor.
Families with children who are having financial problems can seek help from the government by applying for the MOE Financial Assistance Scheme (FAS) and the Bursary Scheme. This allows these students to get free textbooks as buying textbooks can be very expensive, and lets the students to buy things they need, for example: food, stationary, and books.
The Singapore government also introduces rebates for the poor so that they can support their families. During this period of economic downturn, the government will be giving additional support to Singaporean households and the community. Moreover, this year the MPs are distributing ang paos to the needy by going around the neighbourhoods and meeting them face-to-face.
Despite all the help they are receiving, some Singaporeans think that the government should help them even more. Some of them keep quiet, but a few people vent their anger on the government. For example, 1 week ago someone vented their anger on the Yio Chu Kang MP, Seng Han Thong by burning him.
I think that these people should show gratitude to the government as not every government helps the people in their country by giving them rebates and money. However, the standard of living in Singapore is very high, with all the GST and services taxes. Maybe that is why some people are unhappy with the government and want to receive more money.
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