Along with the announcement of the Polling Day of the Singapore election, the election deposit amount has also been increased to $16,000. That means a 6-member GRC team would need $96,000 just to contest.
I got curious and decided to check how the election deposit in Singapore has increased over the years. I got my information from this unofficial Singapore Elections web site. The information seems well-maintained, though I did spot one inaccuracy in the 2011 figure (it states $14,000 instead of $16,000).
I then plotted a graph to show how the election deposit amount has increased over the years, from the $500 in the 1955 general election to this year’s $16,000.
- The election deposit amount stayed constant for 5 GE in a row from 1955 to 1972.
- Since the 1984 election, the election deposit has increased every election.
- The largest percentage increase came in 1988 (+166% as compared to 1984).
- The largest increase in amount came in 2001 (+$5,000 as compared to 1997).
- The average rate of increase from 1984 to 2011 is 161% per GE.
- At this rate, the election deposit will be $170,666 in another 6 GEs’ time.
- Which means a $1,024,000 election deposit for a 6-men team.
Uniquely Singapore indeed.