Parliamentary speeches and more

Written answers to questions by Workers’ Party Members of Parliament

Mr Speaker, I rise in support of the original motion.The full report of the Economic Strategy Review or ESR, released on the 24th of June, goes to the heart of what kind of economy and what kind of society we want Singapore to build for our workers.

Mr Deputy Speaker,‍ Last July, the Prime Minister noted that ASEAN's per capita GDP today is around six thousand dollars — and that if it reaches ten thousand or more, it is, in his words, a complete game changer. A young region. A rising middle class. On our doorstep.

In May this year, the Economic Strategy Review presented 32 recommendations across eight thrusts, the product of five committees and consultations with more than 7,700 stakeholders, with the full report released in June. It is a serious piece of work and I commend those involved. But as I noted in this House last September, Singapore has never lacked task forces and committees: the Economic Strategies Committee in 2009, the Committee on the Future Economy in 2016, the Future Economy Council, the Industry Transformation Maps, the Emerging Stronger Taskforce in 2020, and now the ESR and the Singapore Economic Resilience Taskforce. At this rate, reviewing the economy risks becoming a growth industry in its own right.

Mr Speaker, Post independence, we were razor-focused on pursuing economic growth as a young nation trying to stand on our own two feet, opening ourselves to foreign investment, connecting ourselves with networks of global trade, and providing fertile ground for businesses – both global and local – to flourish. This resulted in vast improvement of the quality of life for large swathes of our population, and for many, the promise of a better future for our next generation was a beacon of hope for which we worked towards.

Mr Speaker, I speak today in support of the original motion filed by my honourable friends, A/P Jamus Lim and Mr Kenneth Tiong. 

Mr Speaker, For decades, skilled tradespersons—from electricians and plumbers to lift engineers and infrastructure technicians—have not been accorded the prestige and pay that match their vital economic contribution. We have relied on foreign labour arbitrage and allowed unlicensed workers to perform tasks meant for certified practitioners, inevitably suppressing local trade earnings over time.

Mr Speaker,‍ The Economic Strategy Review is organised around workers adapting again and again. It proposes training, pathways and career bridges between jobs. It gives far less attention to the all-important first transition from education or National Service into stable work, and to whether young people get a fair start.

Mr Speaker, I move, "That this House, notwithstanding the suggestions in the Economic Strategy Review on the future Singapore economy, believes:

Mr Speaker, I second the motion in the name of my honorable friend, Kenneth Tiong. I cannot agree more that we need both dynamic local companies and opportunities for businesses to succeed, which is why my contribution to this debate will focus on how we should wean ourselves away from the top-down, foreign investment-reliant, multinational corporation (MNC)-centric economic model, and instead build a bottom-up, domestic capital-led, small and medium enterprise (SME)-focused one. I will also weave in constructive critique on the recently-released Economic Strategy Review (ESR).