Singapore to tighten noose on rich as discontent grows


Stung in 2011 by its worst election showing in history, when 40% of voters went against the PAP, the Singapore government has become more open to seeking input from citizens and looking at the gap between the rich and not-so-rich - AFP Photo.

SINGAPORE: Singapore is known as a tropical refuge for the world's wealthy, endowed with exclusive residential enclaves, a marina for super-yachts, two casinos and an annual Formula One race that brings in the global jet-set.

But just as the orderly city-state comes within a whisper of overtaking Switzerland as the world's largest offshore wealth hub, a growing public backlash is forcing the government to tone down its policies catering to the rich.

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