Many oppositions promised – universal healthcare, free handouts etc. But little do they know how much these will strain on Singapore’s finance.

Listen to how DPM Tharman using laymen economics to explain the following economics concepts:

1) Tax and fiscal policy;
2) Income redistribution;
3) Market failure – education, healthcare.

Bottom line – no free lunch in the world. Highly recommended for all JC2 Econs students to watch!