Edward Chia Bing Hui
Singapore
“So, I therefore call on the Government to develop a transport jobs and skills roadmap, aligned with our future transport strategy, to identify emerging jobs, the skills required and the training pathways to help Singaporeans seize these opportunities.”
“Thank you, Speaker. The Senior Minister of State also pointed out that at some point Singapore will have a land constraint and looking at the constraints, we, therefore, need to look at maximising the available EV charging infrastructures and, therefore, utilisation rate.”
“Sir, this Bill is a strong step forward. Its success will depend on building credible, liquid instruments that are fully integrated into Singapore's capital markets ecosystem. With continued focus on adaptability, ecosystem strength and investor clarity, Singapore can realise the full potential of this framework.”
“Sir, I have three supplementary questions. First of all, frontier models require a significant amount of compute and are likely to be concentrated among well-resourced organisations, leading to concerns about accessibility and uneven capabilities.”
“Question No 5, Sir. The Senior Minister of State for Digital Development and Information (Mr Tan Kiat How) (for the Minister for Digital Development and Information): Mr Speaker, Sir, my response will cover the questions raised by Mr Saktiandi Supaat and Mr Edward Chia in today's Order Paper.”
“Could the Minister clarify the criteria and safeguards for granting such waivers, and how consistency will be ensured? It would be important to avoid unintended circumvention or uneven application across businesses. Finally, on transition and unintended behaviours. I note that there will be a transition period before full implementation.”
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“Complement this with outreach through SME Centres and professional bodies, so businesses can prepare their systems ahead of time. In closing, Mr Speaker, this Bill strengthens Singapore's reputation as a place where governance is strong, business is trusted, and laws are modern and fair. It strikes a balance between transparency and privacy, between accountability and practicality. As we refine our laws, it is worthy to note that smaller enterprises form the backbone of our economy. When rules are clear, proportionate and supported by guidance, they do more than ensure compliance. They build confidence, innovation and resilience. With thoughtful implementation and continued dialogue with our business community, this Bill can both enhance fairness and empower enterprises.”
“Companies must now report disqualifications or changes in key appointments promptly and accurately. Fines for administrative oversights, such as failing to update a registered office address, can reach up to $5,000. These measures strengthen accountability and corporate discipline. However, smaller firms without compliance staff may find it challenging to keep pace with the new requirements. A single delay, even if unintentional, could result in penalties that feel disproportionate to their scale or intent. Third, while the Bill empowers the Minister to exempt certain classes of companies from full accounting standards, the criteria for exemption have yet been defined. Without clearer thresholds or guidance, SMEs may be unsure whether they qualify or how they apply for such exemptions. This uncertainty could lead to confusion and inconsistent compliance when the changes come into force. Mr Speaker, Sir, allow me to offer three suggestions to support smooth implementation and uphold our pro-business intent. First, for the members' Register, apply proportionate safeguards, such as masking residential addresses or limiting sensitive data to request-based access. This preserves transparency while reducing the risk of misuse. Second, as stricter penalties or shorter reporting timelines take effect, consider a six- to 12-month grace period for first-time or unintentional breaches. ACRA could also publish clear, plain English compliance guides, with templates, calendars and examples of "reasonable notice" for record inspections. Third, if the intent is to ease compliance for smaller firms, publish the qualifying thresholds, such as revenue size or asset size, well in advance.”
“It removes the right to inspect physical documents but retains the right for anyone to obtain an electronic copy or extract from ACRA. Some shareholder details, such as names, shareholdings and addresses, are already available in the ACRA Biz Profile. However, this change expands both the mode and depth of access. This electronic register contains more detailed information, including share transfer dates, ownership history, and in some cases, residential addresses where no business address is listed. By allowing anyone to easily obtain these details through ACRA, the Bill could increase the exposure of personal and commercial data. For small family firms and investment holding companies, this raises legitimate concerns about privacy, confidentiality and data protection. Mr Speaker, I acknowledge that the Bill remains consistent with the Personal Data Protection Act (PDPA). Disclosures required under the Companies Act are exempt from the PDPA’s consent rules. However, while this legal alignment is clear, the policy implications merit attention. As the electronic register becomes more accessible, ACRA should continue to apply data protection principles in practice, such as masking residential addresses, limit access to essential information and ensuring robust safeguards against misuse or data scraping. A privacy-by-design approach will preserve transparency while protecting the trust and personal data of business owners. I therefore urge the Ministry to work with ACRA to implement appropriate redaction and access safeguards. For instance, masking residential addresses, or limiting sensitive information to request-based access rather than automatic downloads. Second, the Bill introduces stricter report and notification requirements, coupled with higher penalties.”
“Mr Speaker, Sir, I would first like to declare that I am a business owner and hold directorships in enterprises registered with ACRA. I rise in support of the Corporate and Accounting Laws (Amendment) Bill 2025. This Bill represents another important step to keep Singapore’s corporate and accounting frameworks progressive, trusted and competitive. It modernises key provisions in the Companies Act and Accountants Act. It strengthens governance, enhances transparency and ensures our laws continue to support enterprise growth and innovation in a fast-changing business environment. Mr Speaker, first, I commend the Ministry for the many pro-business and practical reforms in this Bill. The Bill removes outdated rules, such as the statement in lieu of prospectus and the old requirement for offices to stay open three hours a day for public inspection. Replacing that with a flexible two-hour access window, subject to reasonable notice, is a sensible update that reflects today's digital practices. I also welcome the potential exemption from full Singapore Financial Reporting Standards for smaller entities. If applied with clear criteria, this can make accounting simpler and more cost-effective for small and medium enterprises (SMEs), while preserving transparency. Taken together, these are forward-looking moves that make compliance easier, reduce friction for businesses and strengthen Singapore’s standing as a trusted and efficient business hub. However, Mr Speaker, I would like to highlight several practical concerns from the perspective of SMEs, which make up the vast majority of registered companies in Singapore. First, the Bill formalises public access to a private company's electronic Register of Members.”
“To clarify, can the Minister share how compensation will be determined and whether guidelines, similar to those at the ECT, will apply? This Bill will expand the roles of MOM and TAFEP in mediation and enforcement. What resources will be provided to ensure timely resolution and consistent outcomes, because predictability builds confidence for both employers and employees? Lastly, legislation can set the rules, but it cannot change culture alone. Education and outreach are vital. Workers must know their rights. Employers, especially SMEs, need guidance to put these new requirements into practice. Our tripartite partners play a key role. Through workshops, toolkits and real examples, they can help both employers and employees understand their responsibilities. Because fairness should not just be a legal requirement, it should be a shared workplace value. Mr Speaker, Sir, this Bill sends a clear message that fairness, respect and dignity are non-negotiable in our workplaces. My clarifications are made in the spirit of strengthening its implementation, ensuring that both employers and employees can operate in a system that is fair, balanced and trusted by all.”
“Yet, many SMEs may lack the HR capacity to meet these new statutory expectations. Our collective goal must be to prevent disputes before they even arise. To achieve this, we need to strengthen HR capabilities across all enterprises, ensuring practices are professional, transparent and consistently applied. In this regard, promotion and appraisal process deserves special attention. These decisions are often subjective and yet they have profound implications for employee morale, retention and progression. To reduce misunderstanding and build trust, companies, especially SMEs, should be encouraged to review and clarify their performance appraisal and promotion criteria, ensuring that they are fair, evidence-based and relevant to their business context. May I ask the Minister for an update on efforts to professionalise and certify the HR industry and how the Ministry can further support employers, particularly smaller firms, in strengthening their internal HR systems? For example, could TAFEP or MOM provide advisory resources, templates or capability programmes to help companies design fair and defensible HR frameworks aligned with the intent and spirit of this Bill? Fourth, we must also guard against frivolous claims. For example, some employees may allege discrimination over return-to-office policies. The system must remain balanced, protecting genuine cases, but preventing misuse. Clear definitions and examples of discrimination will give both employers and employees the confidence to act fairly and reasonably. May I ask the Minister what safeguards are in place to prevent against frivolous claims? Fifth, where discrimination is proven, tribunals may order compensation or reinstatement.”
“Mr Speaker, Sir, I rise in support of the Workplace Fairness (Dispute Resolution) Bill, which marks an important step in resolving employment disputes fairly, quickly and transparently. By giving statutory force to fair employment principles, this Bill reinforces Singapore's commitment to an inclusive, rules-based labour market where both employers and employees can operate with confidence. As we implement this framework, I would like to raise several points for clarification and recommendations. First, this Bill introduces mandatory mediation before adjudication. This aligns with our tripartite approach of resolving conflicts through dialogue and conciliation rather than confrontation. But access to mediation is key. Workers without HR support or legal literacy must feel safe in coming forward. How will we ensure that mediation is not just available, but also accessible and impartial, especially for our lower-wage workers? As TAFEP transitions from advisory to enforcement, clear communication is critical so that everyone understands where to go, what to do and what to expect when a dispute arises. Second, while the Bill emphasises the importance of internal resolution, we must recognise that unequal power dynamics persist in the workplace. Employees may feel intimidated, uncertain, or afraid of retaliation. Could the Ministry share what safeguards and training will be in place to ensure employees can resolve grievances without fear or duress? And where harm or undue pressure is likely, could the Bill allow employees to proceed directly to mediation? This would protect vulnerable workers while preserving fair and proportionate resolution. Third, employers bear the responsibility to uphold fair practices and cooperate fully with investigations.”
“In particular, how the Ministry plans to support upstream development, ensure off-take stability for producers and grow high-value jobs and local enterprise opportunities through this transition. With clear policies and strong partnerships, Singapore can turn this levy into a catalyst for green aviation leadership. Sir, notwithstanding my clarifications, I support the Bill.”
“Despite these challenges, Sir, there are promising opportunities. With strategic design, the SAF levy could put us in the lead as a regional hub for SAF, attracting new green investments, encouraging co-location of upstream production facilities, creating high-value jobs across the feedstock, refining and carbon management value chains. Given our established petrochemical expertise and proximity to Southeast Asia's agricultural base, Singapore is uniquely positioned to coordinate feedstock-to-fuel supply chains. A collaborative framework with Association for Southeast Asian Nations (ASEAN) partners could enable joint certification, financing and trade of SAF across borders, much like how Singapore pioneered regional liquefied natural gas (LNG) trading. Beyond serving as a trading and refining hub, Singapore can also derive direct benefits from co-locating SAF production and carbon management activities. This would generate quality employment in advanced manufacturing, logistics and sustainability services, and anchor Singapore in the upstream value chain, from feedstock aggregation and processing to downstream carbon credit generation through verified emission reductions. May I ask the Minister how the Ministry plans to grow the broader SAF ecosystem and what new high-value jobs and opportunities for local enterprises it expects to create through this transition? Sir, to summarise, the success of the SAF levy will depend on how well it drives real investment and innovation across the value chain. I have raised clarifications on five areas: one, the viability of SAF; two, upstream production capacity; three, feedstock standards; four, investment certainty; and five, regional opportunities.”
“For investors developing refineries, feedstock logistics, or synthetic fuel technologies, such uncertainty poses a challenge. Manufacturing operations require a minimum scale to be viable. The SAF levy rightly internalises environmental costs and encourages greener choices. But does it drive more upstream investments? Experience abroad offers valuable lessons. In the US, the Inflation Reduction Act introduced SAF tax credits of up to US$1.75 per gallon, narrowing a price gap with conventional jet fuel. That single policy unlocked billions in private investment across 14 states, demonstrating how clear price and volume signals coupled with investment incentives can provide the certainty needed to scale production. I would like to emphasise my earlier point. Singapore could consider a similar approach, such as a performance-linked rebate or co-investment scheme, where part of the levy revenues is directed into SAF research and development (R&D), production infrastructure, or feedstock aggregation. This would create a more circular levy and crucially, send a strong signal of long-term policy confidence to investors. Another avenue is to enable voluntary contributions, especially from corporate travellers, to fund SAF adoption. This would expand financing options and engage the public in Changi's sustainability journey. Ultimately, producers need predictability, in terms of off-take volumes to justify investments. The current levy provides price certainty, but it risks volume volatility. A minimum offtake commitment could help bridge that gap. May I ask how the Government what are the plans to ensure minimum off-take guarantees for producers, while still maintaining price stability for airlines and travellers?”
“In contrast, fuels made from used cooking oil or animal fat can reduce emissions by 60% to 70%, because they use recycle existing waste rather than grow new crops. The problem is that these waste materials are limited and already in demand by other industries. That is why international bodies like ICAO, through its Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) framework, now define which feedstocks truly count as sustainable. Some, like palm oil residues, are still hotly debated because of concerns about deforestation and how carbon is measured. Choosing the wrong mix of feedstocks could hurt both our environmental goals and economic opportunities in the carbon market. Sir, Singapore should build feedstock differentiation and traceability into its SAF framework from the very start, ensuring accountability to ICAO's sustainability standards. Alternatively, a more practical approach could be to set uniform emissions targets, adjusted according to each feedstock's carbon intensity, so that producers are rewarded for using cleaner inputs and held accountable for those with higher carbon intensities. May I ask the Ministry which approach Singapore plans to adopt in aligning our SAF framework with international standards and what are the plans to develop upstream feedstock capacity? Sir, the SAF levy has been introduced as a flat charge to provide price predictability for end consumers and airlines. The levy takings will be used to purchase SAF at market prices, meaning that the volume of off-take will fluctuate in response to price movements. This design ensures cost stability for airlines and travellers but not volume stability for producers.”
“Singapore's SAF levy could be made more effective by pairing it with targeted incentives, such as joint ventures or green finance instruments like transition bonds, to support feedstock aggregation and upstream infrastructure. Japan's "ACT FOR SKY" consortium offers a useful model, where the government united airlines, fuel suppliers and trading houses to co-invest in early-stage SAF projects, aligning public and private risk to achieve scale. I would like to ask if the Ministry will consider allocating part of the SAF levy revenue towards developing upstream production capacity. The success of SAF depends very much on the feedstock, which is the raw material used to produce it. Today, most SAF comes from things like used cooking oil, animal fats, or farm waste. But these materials are limited in supply. A McKinsey study found that by 2030, such waste-based sources can meet only about 30% of global demand. The rest will have to come from more advanced fuels made using captured carbon and green hydrogen – technologies that are still expensive and developing. To build Singapore's position as a sustainable aviation hub, we must look closely at what kinds of feedstock are available in our region. Broadly, there are two types: first-generation feedstock is made from food crops such as corn, sugarcane, or palm oil. Second-generation feedstock is made from waste materials such as used cooking oil or animal fat. The difference between them is significant. For example, when you take into account the clearing of land to grow palm oil, the total carbon pollution from palm oil-based fuel can actually be higher than regular jet fuel, more than 100 grammes of CO₂ per unit of energy, compared to about 89 grammes for conventional jet fuel.”
“5% blending requirement, implemented in 2020, did increase SAF uptake, but at significant cost to carriers, which in turn led to ticket price increases and logistical complexities in supply. Similarly, the EU's RefuelEU Aviation regulation, passed this year, mandated a progressive SAF blend rising to 70% by 2050. However, the European Commission itself acknowledges that high production costs remain the biggest constraint. The energy transition toward carbon neutrality demands a transformation across the entire aviation supply chain, from producers to off-takers, from regulators to the flying public. This is not a change that one sector can shoulder alone. It requires a shared understanding of how costs and upstream investments are borne, how responsibilities are shared and how each phase of implementation unfolds. For a SAF levy to truly succeed, it must inspire confidence, de-risk investment and drive down costs over time. Globally, even major energy players, such as Shell and BP, have slowed or paused SAF investment. Just this year, Shell suspended plans for its 820,000-tonne-per-year SAF facility in Rotterdam, citing rising costs and uncertain margins. To put things in perspective, the world's total SAF production capacity today stands at around 600 million litres a year, less than what airlines consume in a single day. To meet the ICAO target of 5% SAF by 2030, the global production output would need to increase 50-fold in just five years. Sir, even the largest integrated energy companies remain cautious. Without strong market guarantees or co-investment frameworks, smaller producers will not invest in new refineries or feedstock supply chains.”
“Mr Deputy Speaker, I would first like to declare that I am the owner and operator of a food waste valorisation enterprise, which produces a side stream product that can be used as a feedstock for biofuels. The intent behind these amendments to decarbonise aviation and align Singapore with the global net-zero targets is a step in the right direction. The global aviation sector is at a crossroads. While SAF offers a promising pathway to decarbonisation, it is still in its infancy in terms of supply, cost and scalability. The question before us is how we get there, and at what pace and price. To this end, I would like to raise a few points for clarification. First, on the viability of SAF, both economically and technologically. Second, on upstream capacity and whether global supply can meet our ambitions. Third, on feedstock availability and type, given regional constraints. Fourth, the impact of the levy on investors and airlines. And finally, on regional opportunities – how this transition could create green jobs and help Singapore leapfrog as a regional hub for sustainable aviation. SAF is the aviation industry's best near-term pathway to decarbonisation. Yet, SAF today remains three to five times more expensive than conventional jet fuel. According to the International Air Transport Association (IATA), global production accounted for only 0.2% of jet fuel consumption in 2023. This raises the question of just how economically and technologically viable SAF is. Without sufficient scale, a SAF levy risks becoming a cost burden on airlines and passengers rather than a market signal strong enough to catalyse real change. In Norway and the EU, SAF blending mandates have been introduced. In Norway, 0.”
“Thank you, Speaker. I would like to say that the introduction of AVs means exciting opportunities also for our young. So, I would just like to ask Senior Minister of State, how is our Institutes of Higher Learning (IHLs) participating in these trials and are there learning opportunities for students in our IHLs? My second supplementary question is with regard to system-wide benefits, such as, accessibility, in particular. For routes that are currently not viable, does the Ministry see that introduction of AVs create new opportunities for new routes? For example, night riders, bus services and if so, does the Ministry intend to run pilot trials for night rider bus services on AVs? My last supplementary question is with regard to technology convergence with light rail systems. Does the Ministry see there is an opportunity for AVs to be running on tracks that will lead to better system reliability on light rail systems?”
“Such support would lower the barriers to automation adoption, while ensuring that public resources lead to real, measurable improvements in efficiency, skills development and competitiveness. Mr Speaker, Sir, our SMEs already contribute 50% of our Singapore's GDP and employ nearly 70% of our workforce. That alone shows how vital they are and how much more we can unlock if we support them better and support them now. It may be tempting to focus on larger enterprises for quick wins in GDP and jobs. But SMEs are not just smaller versions of multinational enterprises (MNEs). They are the backbone of our ecosystem. They provide the networks, the know-how and the connections that make Singapore attractive to global investors. And when MNEs bring in technology and market access, SMEs gain, scale-up and innovate. Stronger SMEs mean better jobs: progressive, higher-value, future-ready jobs for Singaporeans. They anchor communities, build skills and nurture innovation. By growing our SME sector, we create a pipeline of local global champions. We stabilise our economy. We build resilience. And we ensure Singapore remains relevant, wherever and whatever the future economic order may be. Strong SMEs, better jobs, a resilient and inclusive Singapore. Mr Speaker, Sir, I support the Motion.”
“In addition to transparency, as the largest landowner in Singapore, the Government has the opportunity and also the responsibility to shape how market systems evolve. I propose that public tenancy evaluations scale and expand the Price Quality Method. Crucially, "quality" component should reflect not just financial bids, but also social and environmental value. This can be aligned with the Corporate Purpose framework under the Company of Good by the National Voluntary and Philanthropy Centre, where firms are assessed not only on profits, but on their contributions to people, society, governance, environment and the economy. Firms recognised with one to three hearts, or as Champions of Good, could then be awarded proportionate scoring in tenancy evaluations. Because, Mr Speaker, our enterprises are not just economic agents, they are also social change agents and a rent model that rewards placemaking, inclusivity and sustainability will strengthen businesses and enrich Singapore. Lastly, we must acknowledge that automation requires space, both physical and financial. Automated operations often involve additional infrastructure. For example, an automated production line may require space for conveyance systems, robotic arms, storage buffers, or automated sorting and quality control stations. These spatial needs can significantly increase upfront costs and logistics complexity, particularly for SMEs operating in compact facilities. For such businesses, I propose that the Government offer property tax relief, accelerated capital allowances, longer lease tenures, calibrated foreign worker levy reductions, provided these are tagged to productivity gains and worker upskilling outcomes.”
“While the PWM is a critical and necessary step toward uplifting lower-wage workers and affirming the dignity of labour, we must also acknowledge the strain it is placing on our SMEs. Many are struggling to keep pace with mandated wage increases, especially when productivity gains take time to realise and passing on costs to consumers risks pricing them out of the market. This pressure is further compounded by the rising total cost of foreign manpower, fuelled by higher dormitory costs, steeper qualifying salaries and persistent foreign worker levies. Let us recall that these levies were originally intended to guard against wage suppression. But in sectors already governed by PWM, where wage ladders are clearly structured and enforced, such levies are increasingly redundant, even counterproductive. They burden SMEs without offering meaningful additional safeguards for workers. I, hence, urge the Government to undertake a comprehensive review of the foreign worker levy framework in PWM-covered sectors. Targeted levy reductions or time-bound rebates, similar to those introduced during the pandemic, should be considered. My seventh proposal addresses rent, a structural issue that continues to weigh heavily on our SMEs. For years, SMEs have called for greater rent data transparency. Why? Because transparency levels the playing field. It ensures fairer negotiations and it allows businesses to make informed decisions. In the residential property market, URA already publishes rent and property sale values, giving tenants and buyers clarity. Government landlords have also published land and rental data. These are positive precedents. This is why I call on URA to extend this practice and publish commercial rent data in a format similar to that used for residential properties.”
“Beyond this, the Government should enhance grant support and offer favourable financing terms for consortiums, including joint training programmes, shared intellectual property frameworks and common procurement platforms. Trade associations and chambers of commerce should act as neutral convenors and custodians, ensuring accountability and fair distribution of benefits, while giving SMEs the confidence to collaborate at scale. In short, by encouraging collaboration, we multiply the impact of our SMEs, turning small firms into a connected ecosystem that strengthens Singapore’s competitiveness and resilience. Fourth, we must improve payment terms to ease cash flow for SMEs. Delayed payments from large corporates or Government-linked entities can cripple small businesses. The Government can lead by example to commit to shorter standard payment terms, ideally within 30 days. In addition, I propose introducing automatic late-payment interest clauses to encourage discipline and predictability. This should also include the timely disbursement of grants once project milestones are met. To institutionalise this further, we implement procurement performance scorecard that tracks payment timeliness and SME participation across the public sector. Fifth, I call for a more efficient regulatory system. For SMEs, every month spent waiting for approvals is a month of lost opportunity. We must set clear standards with publishable timelines, expand "silent approvals" for low-risk applications and adopt sandboxes so that new business models can be tested safely. And to make this stick, we should institutionalise a scorecard that tracks timeliness of approvals across public agencies. My sixth proposal addresses the issue of rising manpower costs.”
“This could include extending loan tenures, offer repayment flexibility or introducing principal moratoriums, especially for firms undergoing transformation. These measures should be calibrated with risk-based pricing and require recipients to commit to basic financial reporting and cashflow transparency. In my maiden speech, I called for repayment schemes to go beyond rent arrears. Today, I reiterate that we should extend them to a wider range of obligations – personal guarantees, insurance bonds, trade financing and term loans. Just as the COVID-19 framework gave many businesses a lifeline, such calibrated extensions can give SMEs the time and confidence to press on with transformation. At the same time, we cannot rely on traditional banks alone. Alternative financing models must be expanded – revenue-based financing and venture debt designed for SMEs. These instruments are especially crucial for high-growth sectors, like agri-tech, clean energy, health tech and the digital economy, where upfront investment is heavy but long-term returns can be transformative for Singapore’s future. In short, we must give SMEs not just capital, but also time, because time is the oxygen they need to grow, adapt and thrive. Third, we must actively encourage SMEs to form consortiums and project joint ventures. Forming consortiums allows SMEs to pool talent, share resources and punch above their weight for larger contracts. To facilitate this, agencies can provide higher grant quantums for firms that collaborate in enterprise around projects, seeking greater collaborative ventures.”
“To unlock this potential, we need a mindset shift, to see SMEs as co-creators of our national transformation. To unlock the potential of our SMEs, I put forward eight recommendations. These recommendations fall under three themes, providing targeted relief with accountability, fostering collaboration that scales, and driving structural reforms that reward both economic performance and social impact. First, I propose a Targeted Restart Grant to support viable firms, particularly in sectors, like F&B, logistics, tourism and services, that continue to grapple with global supply chain disruptions and a subdued business outlook. Crucially, a Restart grant ensures that entrepreneurs with deep experience and networks are empowered to restart so that the jobs they create, the communities they anchor, and the know-how they carry are not lost, but preserved as economic and social value for our nation. This support should be conditional. It must be tied to forward-looking transformation plans, such as digitalisation, process redesign, internationalisation and workforce upskilling. The aim is not to prop up outdated business models, but to catalyse renewal and innovation. Support should be structured with clear milestones, co-funding ratios and sunset clauses. Firms that meet their transformation goals could tap into productivity credits and other grants. Those who do not should exit the support framework to safeguard public value. In short, Mr Speaker, we must help experience restart, not expire. Beyond restarting, SMEs will also need time to rebuild. This is why my second proposal is to give SMEs more breathing space when it comes to financing.”
“Mr Speaker, Sir, it is an honour to rise in this House and to continue serving the residents of Holland-Bukit Timah GRC, especially those in Zhenghua. My heartfelt thanks to all residents. First, I would like to declare my interest as an entrepreneur within the circular economy space, specifically running a food circularity business. I also serve as an Exco member of the Restaurant Association of Singapore and as an advisor to the Singapore Association of Ship Suppliers and Services, the National Instructors and Coaches Association, and the Visual, Audio and Creative Content Professionals Association (VICPA). I echo the President's call to refresh Singapore's economic strategies, and to build a future that is both resilient and inclusive. The world around us is shifting rapidly. Global markets, once seen as stable, are now weighed down by war, protectionist tariffs, and domestic upheavals. Multinational corporations are recalibrating supply chains and rethinking strategies, while trade itself is increasingly weaponised. In this climate, countries are competing fiercely with subsidies and incentives to win investments. Singapore cannot and should not compete on size or subsidy. We must compete on relevance, on the strength of our ecosystem. And this is why SMEs matter. They provide the embedded networks and value that anchor investors here, and they give Singapore its relevance. In uncertain times, agility often trumps scale and agility is where our SMEs shine. They are adaptable, deeply rooted in our communities and reflect the entrepreneurial spirit that built modern Singapore. Strengthening them is an economic imperative and also a social one. They enrich livelihoods, sustain communities and make Singapore a more cohesive nation.”
“Thank you, Speaker. I understand that most of our students studying in our IHLs already go through internship programmes and the effort is intended to equip our students or young jobseekers with relevant work experience, and some of these internships are also supported by existing Government programmes, such as the Global Ready Talent Programme. In this context, may I ask the Minister first, how does the GRIT programme differ from existing internships, in terms of expectations, oversight, mentorship, learning objectives? And the Minister also mentioned about soft skills; so, would there be efforts to also harmonise this with the Global Ready Talent Programme? Secondly, the Minister mentioned that there will be regular check-ins with trainees. May I ask how frequent will these check-ins be and how will these enhance the overall trainee experiences and outcomes?”
“Thank you, Speaker for your indulgence. I think the Senior Minister of State answered my first clarification. On my second clarification, where I shared that today, many of the new hawkers are also investing in time on social media marketing, they could be at the central kitchen preparing some of the ingredients, they could be doing deliveries to their customers – and they cannot be physically at the stall. But today, some of the place managers are actively enforcing, based on strict hours, for example, eight hours if they have one stall; four hours, they have two stalls. Will there be flexibility accorded in terms of the actual hours they are physically present? And how will this flexibility be consistent and fair throughout all NEA hawker centres?”
“Thank you, Mr Speaker. Sir, I would like to ask two follow-up clarifications to the Senior Minister of State. First of all, does the current rule of requiring hawkers to personally operate the stall have actually been effective in preventing unintended subletting and has it also unintentionally discouraged genuine hawkers? In the case of hawkers who are intending to expand, can they re-assign their stall leases to business partner without the need to re-bid or to re-apply for their stalls? The second clarification is that, today, for new hawkers to grow their business, they actually have to invest in branding, work on social media marketing and some might also set up their central kitchen or choose shared services. And many of these business activities require them to be physically present elsewhere than physically present at their stalls. My understanding is that today, for a stallholder, they must actually operate minimally eight hours physically. Or in the case where they have two stalls, they have to be physically present at the stall for four hours. Can the Ministry exercise some flexibilities for hawkers who may need to be outside of the stall because there are many other business activities that they have to operate?”
“How are policies ensuring that wage increases are matched by productivity improvements? What additional measures can help firms and workers enhance efficiency, so wage growth remains sustainable? Workforce transformation is not just about policies. It requires partnerships between the Government, businesses and workers. By integrating job redesign, skills development, inclusivity and mental well-being, we can build a resilient, competitive and sustainable workforce for Singapore's next phase of growth. I look forward to MOM's insights on these issues. Employer Incentives”
“HR professionals are also seeking clarity on the MOM's Career Health Framework and how it aligns with employers' organisational skills needs. How will enterprise learning objectives be harmonised with employees' career health, so that upskilling efforts benefit both businesses and workers? Moreover, how will existing diagnostic tools, like the Human Capital Diagnostic Tool (HCDT) and iWorkHealth, be integrated to create a cohesive strategy, one that supports both organisational workforce planning and individual career health? Workplace mental wellness must be a priority, with strong literacy across all jobs to foster a culture of support and resilience. Employers, supervisors and managers set the tone. How will MOM ensure they are equipped with the right competencies to drive meaningful and effective mental wellness interventions? Beyond individual companies, Singapore must cultivate a strong pipeline of corporate leaders capable of driving innovation and thriving in the global economy. MOM currently offers training programmes for overseas expansion, and Prime Minister Wong highlighted in his Budget speech that feedback on these initiatives has been positive. Can MOM share insights on the impact of these leadership programmes and plans to scale them further? Additionally, how is the Government engaging Singaporeans working abroad to leverage their global experience in leadership pathways? Are there successful international models that we can adopt and learn from? Workforce transformation must be inclusive. Uplifting lower-wage workers in a sustainable way is essential. While the Progressive Wage Model (PWM) is a great step forward, wage growth must be driven by productivity gains and not just Government support.”
“The increasing offshoring of HR functions raises concerns about its long-term impact on Singapore's tripartite framework, which relies on close collaboration between employers, employees and the Government. As HR functions become outsourced, we risk losing local expertise and influence over workforce strategies. To sustain HR's strategic role, professionals must upskill and demonstrate value. Certification ensures competitiveness, and bodies like Institute for Human Resource Professionals (IHRP) must continually refine frameworks to stay relevant and globally aligned. One way to reinforce HR's credibility is to make HR certification a standard requirement for practitioners. This would elevate professional standards and ensure that HR remains a core driver of organisational transformation. However, for certification to be truly impactful, it must be valued and recognised by multinational enterprises (MNEs) operating in Singapore. Singapore is believed to be the only country in Southeast Asia with an HR certification scheme. If so, we have a first-mover advantage. How can we build on this to further professionalise the HR sector, strengthen certification standards and position HR as a key enabler of workforce transformation? Recently, I had a dialogue with senior HR professionals organised by IHRP. Notably and surprisingly, the initiative they were most excited about is the Enterprise Compute Initiative. Artificial intelligence (AI) presents vast opportunities beyond hiring, including workforce analytics, personalised training, employee engagement and mental health support. How will the Government support AI adoption in HR to drive skills-based hiring while also enhancing workforce planning, skills development and well-being?”
“Mr Chairman, Sir, Singapore's continued economic success depends on our ability to transform our workforce, enhancing productivity, fostering inclusivity and equipping businesses for the future of work. Achieving this requires a holistic and integrated approach where employers take the lead in job redesign, worker training and HR transformation to build a resilient and future-ready workforce. Workforce transformation extends beyond automation and restructuring. It is about creating high-value, meaningful jobs that drive long-term economic growth. Employee training should not be seen as an expense but as an investment. To maximise its impact, HR professionals must play a strategic role in workforce planning. With this in mind, how is the Government supporting HR professionals in upskilling and workforce strategy? The recent revamp of the SkillsFuture Enterprise Credit is a welcome move, but its rollout is only scheduled for end-2026. Given the urgency of job redesign, can the MOM consider accelerating its implementation? A delayed rollout could result in businesses deferring critical transformation projects while they wait for funding. Beyond training, HR professionals have raised concerns about flexible workplace arrangements, particularly regarding management resistance, productivity measurement challenges, and the need for clearer policies to ensure fairness and efficiency. How can MOM better support businesses by sharing best practices and data-driven insights to facilitate smoother adoption? HR professionals have also noticed an increasing trend of corporate functions, such as accounting and HR functions being offshored due to cost pressures in Singapore.”
“— matching system between instructors and schools. Financial Literacy Education in Schools”
“I urge MOE to work with NICA to review the current procurement system and introduce earlier notification of contract renewals or non-renewals, clear handover protocols and a more efficient —”
“Mdm Chair, in 2022, the National Instructors and Coaches Association (NICA) and MOE established a workgroup to strengthen engagement with MOE instructors, many of whom are freelancers and self-employed. This initiative aimed to enhance collaboration between schools and instructors to improve the quality of CCAs and enrichment programmes for students. Progress has been made, especially with an inclusive dispute resolution framework set for finalisation in this quarter. However, some issues require further attention. One key issue is the procurement process for instructors' services. Currently, most schools only procure instructor services at the end of the school year for the next, resulting in a highly compressed and competitive bidding cycle. This process creates several challenges. First, instructors face job insecurity as they receive little advance notice when their contracts are not renewed. This leaves them with insufficient time to secure alternative employment opportunities. Second, the lack of a structured handover process between outgoing and incoming instructors disrupts students' learning. Without proper transition planning, students experience interruptions in their training and development. Third, instructors often bid for multiple contracts to maximise their chances of securing a role. However, some who receive multiple contracts later withdraw their overlapping commitments, leaving schools scrambling to find last-minute replacements. Meanwhile, instructors who do not secure any contracts are left without work until the next bidding cycle. We need to assess whether GeBIZ is the most suitable procurement process for coaching services.”
“Additionally, grant schemes, such as the Enterprise Development Grant and the Productivity Solutions Grant, could be restructured to offer higher grant quantums for joint enterprise development rather than individual efforts. Turning to Singapore’s tourism and lifestyle sector. Tourism is a key pillar of Singapore’s economy. Last year, the Singapore Tourism Board (STB) announced the Tourism 2040 roadmap. Can MTI provide an update on its progress and future efforts to keep Singapore competitive as a top global destination? Singapore’s local arts scene has immense potential to offer unique, authentic experiences for travellers seeking cultural depth. How is MTI working with local arts practitioners to integrate their content into tourism and enhance Singapore’s appeal to repeat visitors? At the same time, the nightlife sector has faced significant challenges. Nightlife is not only a lifestyle offering but also a complementary component of Singapore’s broader tourism experience. Does STB view nightlife as an integral part of our tourism strategy? If so, how is it supporting the industry to remain relevant and aligned with evolving consumer preferences? 6.15 pm Singapore’s economic resilience depends on fostering innovation, transition to a low-carbon economy, strengthening local enterprises and revitalising tourism. By supporting startups, enhancing business networks, advancing sustainability and promoting tourism, we can cement Singapore's global hub status.”
“While past Budgets have introduced grants for energy-efficient systems, will MTI enhance these grants to accelerate adoption? Given the high energy consumption of large buildings, will MTI introduce grants for large building owners to drive meaningful energy savings? Specifically, as land intensification in business parks presents an opportunity to deploy district-wide energy solutions, such as district cooling, how is MTI ensuring that these projects incorporate energy efficiency targets at the design stage? MTI has introduced several initiatives to enhance the business environment. The Inter-Ministerial Committee for Pro-Enterprise Rules Review and SME Pro-Enterprise Office (PEO) were launched in 2024. Can MTI provide an update on their impact on improving regulatory processes and benefiting businesses? Collaboration between multinational enterprises (MNEs) and local businesses is key to scaling globally. The Partnerships for Capability Transformation Scheme fosters such partnerships, but what is the utilisation rate of the scheme relative to its budget? Does the scheme require enhancements to strengthen the complementary relationship between MNEs and local enterprises and support local enterprises to scale globally? Personal relationships are critical in business. With the trend of onshoring and MNEs relocating key functions closer to home, how is MTI ensuring that MNE decision-makers remain in Singapore, enriching our business networks? For local enterprises to scale, economies of scale are crucial. I propose the existing merger and acquisitions (M&As) support programmes could be expanded to include joint ventures and shared services.”
“Mr Chairman, Singapore’s next phase of economic growth hinges on reinforcing our position as a global hub for startups and innovation. Despite a strong entrepreneurship ecosystem, startups continue to face challenges in securing growth funding, with valuations under pressure and increased dilutions for founders and employees. How will the Long-Term Investment Fund and Private Credit Growth Fund help address these challenges? Beyond capital, networks are crucial in scaling enterprises. Strong global networks enable startups and high-growth enterprises to internationalise. How is MTI fostering an ecosystem where personal networks support enterprise scaling? As Singapore strengthens its status as a global wealth hub, many high-net-worth individuals possess vast business networks. How is MTI engaging these individuals to deploy patient capital and activate their networks to help local enterprises expand internationally? Our commitment to net-zero by 2050 requires decisive action, particularly in decarbonising the power sector. Higher renewable energy costs may impact business competitiveness. Can MTI provide an update on strategies to ensure a sustainable transition while maintaining economic competitiveness? Singapore, as a leading financial hub, is well-positioned to shape the carbon trading market. However, transparency and accuracy challenges remain. Given our reputation for trust and competence, how is MTI nurturing a carbon trading ecosystem that leverages on Singapore’s strengths? A key aspect of carbon trading is transferring international mitigation outcomes, requiring corresponding adjustments via G-to-G agreements. How is MTI collaborating with regional partners to develop beneficial frameworks? Energy efficiency remains a priority.”
“Mdm Chairperson, strong national unity and domestic support must underpin Singapore's foreign policy. In a multicultural society like ours, differing perspectives on foreign affairs can easily upset our hard-won racial harmony. As the global geopolitical landscape grows more complex and fragmented, it is more important than ever for Singaporeans to stay cohesive in our approach. Also, in recent times, information is increasingly consumed through social media and messaging apps whose algorithms reinforce specific viewpoints. As a result, the public is less exposed to diverse perspectives than in the past, when traditional media offered a broader range of views. Can MFA share how it fosters public understanding and national consensus on Singapore's foreign policy priorities? How is MFA adapting its public engagement strategies to make foreign policies more accessible and relevant to Singaporeans and ensure unity in approach? This year marks 35 years of diplomatic ties between Singapore and China, a relationship built on mutual trust, respect for international norms and adherence to global principles. Despite the growing US-China rivalry, Singapore has remained consistent and principled in our engagement with both powers. However, these international norms are increasingly being challenged and tensions between the two major economies continue to escalate. Given this shifting geopolitical climate, how is Singapore working to deepen our cooperation with China while maintaining our strategic autonomy? What are our strategies to strengthen bilateral cooperation and people-to-people ties amidst these geopolitical uncertainties? Safeguarding Singapore's Interests”
“Mr Chairman, Sir, Singapore's fiscal prudence has long been a pillar of our economic resilience. However, prudence must also consider opportunity cost. The time taken from ideation to budget allocation and, ultimately, project implementation represents an economic cost by itself. To maximise impact and efficiency, can MOF, in collaboration with other Ministries, measure and streamline this process to minimise delays and ensure that promising initiatives are not hindered by bureaucracy? SMEs and startups often face challenges in assessing Government procurement opportunities. Many SMEs and promising startups with innovative solutions struggle to participate in Government procurement due to administrative and track record requirements. How can MOF facilitate greater SME and startup participation in Government tenders? Are there measures in place to ensure that procurement frameworks do not disproportionately disadvantage SMEs and promising startups and the Government missing out on promising solutions? Beyond procurement, the cost of doing business in Singapore remains a key concern. Complex regulations and high compliance costs often prevent SMEs from scaling up effectively. The adage, "Time is money" could not be more apt for SMEs. What steps is MOF taking to simplify regulatory requirements, manage compliance costs and improve overall ease of business transactions with Government agencies? Ultimately, improving efficiency benefits both businesses and the economy as Singapore strives to remain competitive. Ensuring that Government processes are streamlined, procurement is accessible and businesses can operate with greater agility will be critical. I look forward to MOF's insights on these issues. Embed Social Value in Government Procurement”
“Most importantly, Sir, our unity as Singaporeans remains our greatest strength. I have witnessed this firsthand in Zhenghua, where residents often tell me they would rather let others benefit from local assistance schemes, such as the monthly $1 Deal and Project Sama Sama. This selfless Spirit of looking out for one another, of caring for our neighbours, is what defines us as Singaporeans. It is this collective sense of community that will see us through any crisis and propel us towards an even stronger Singapore. Mr Speaker, Sir, I support the Budget.”
“By empowering local enterprises to maximise the usage of AI tools, this will improve the overall firm’s productivity which translates to sustained real wage growth for Singaporeans. Finally, Singapore invests heavily in R&D, but more must be done to translate research into plug-and-play industry solutions. I propose that we strengthen collaboration between industries and Institutes of Higher Learning (IHLs) by co-locating R&D offices on campuses. This integration allows students, researchers, and businesses to work closely together, accelerating innovation and ensuring the real-world application of research. Internationally, successful models demonstrate the impact of such integration. Stanford University’s close ties with Silicon Valley have fostered groundbreaking startups like Google and HP, while the Massachusetts Institute of Technology’s (MIT’s) Industrial Liaison Program connects companies with faculty and researchers, ensuring innovations translate into commercial applications. By adapting these models, Singapore can strengthen industry-IHL partnerships, expand co-location efforts, and provide greater support for research commercialisation to drive enterprise transformation, economic growth and high-quality job creation for Singaporeans. Mr Speaker, Sir, in conclusion. Budget 2025 builds upon the Government’s consistent investment in our economy and our people. We have been able to deepen these commitments while keeping individual tax burdens low compared to many developed countries. However, the true impact of these investments depends on effective execution. In an increasingly volatile world, Singapore’s stability is our foundation, giving us the confidence and conviction that we can deliver on these policies and secure a better future for all.”
“I fully welcome the expanded support for work-study programs under the SkillsFuture Level-Up programme, particularly the introduction of the Part-Time Long-Form Training to cater to part-time upskilling. The opening of Singapore University of Social Sciences' (SUSS's) new city campus is another positive step, making work-study opportunities more accessible to working professionals. On this note, I would like to ask the Government if there are plans to encourage more employers to offer work-study arrangements. What policies can be introduced to minimise workplace disruptions while ensuring workers can upgrade their skills without compromising productivity? By aligning workforce upskilling with employers' transformation needs and industry trends, we enable both businesses and workers to seize new opportunities and drive growth. A strong focus on growth and top-line expansion ensures that companies have the resources to invest in talent development, fostering continuous learning, innovation and sustained wage increases. Fourth, we need to take AI by its horns and improve its adoption among enterprises. The newly minted $150 million Enterprise Compute Initiative that will empower enterprises with AI tools and resources will certainly be a game-changer in bolstering enterprise capabilities. Given the importance of AI adoption among enterprises, I would like to ask the Government what are the current resource limitations in scaling up the Enterprise Compute Initiative so that more enterprises can accelerate AI customisations and adoption? Particularly for SMEs, what programmes are available to help them leverage AI tools?”
“Third, we must continue powering ahead with workforce upskilling. Employers play a critical role in aligning workers' skills with the evolving demands of industry transformation. It is imperative that we provide them with stronger support to ensure Singapore's workforce remains future-ready. The changes to the SkillsFuture Enterprise Credit Scheme, where employers are provided with an online wallet with credits to offset training costs, are widely welcomed by employers as they address a common pain point – cash flow. I would like to call on the Government to review other support schemes and implement similar updates that will resolve enterprise transformation challenges related to cashflow, so that enterprise transformation can be expedited and inclusive. The NTUC CTC Grant has been instrumental in co-funding employer-led initiatives that boost productivity, redesign jobs and enhance career development. The SkillsFuture Workforce Development Grant further strengthens this by increasing funding support while streamlining the application process, making it easier for businesses to invest in talent development. The Jobs-Skills Integrator (JSIT) initiative, announced in Budget 2023, is another critical piece of the jigsaw puzzle. By serving as an intermediary that links industries, training providers and employment facilitation partners, JSIT ensures that training programs are directly aligned with market needs. Can the Government share how these schemes complement each other in supporting businesses and workers to adapt to evolving industry demands and skills requirements? At the same time, work-study programs are critical in bridging the gap between education and employment.”
“Maximising the complementary advantage for the individual would mean the Government's consistent support in skills upgrading, so that Singaporeans always boost their capabilities and seize new opportunities. For local enterprises, we need to strengthen the enterprise ecosystem and the network effect between local enterprises and MNEs. This works both ways. Despite the high cost of operating in Singapore, MNEs stay committed in Singapore due to the relevant enterprise ecosystem that provides MNEs with high quality supplies and expertise. Local enterprises can collaborate with MNEs to innovate, create new products and services, and grow internationally by leveraging the MNEs network and referrals. As globalisation trends shift toward localisation and onshoring, there is a growing risk that MNEs may relocate key manufacturing, R&D and corporate functions away from hubs like Singapore. To build economic resilience against such external shocks, we must strengthen the nexus and integration between our local enterprises and MNEs. As one CEO of a large local enterprise aptly put it, "MNEs may adjust their investment focus based on global geopolitical trends, but local enterprises are here to stay. This is our home base." By fostering the growth of strong local enterprises, we can anchor critical capabilities, sustain high-quality jobs and ensure long-term economic stability for Singapore. By strengthening the complementary relationship between local and foreign workers, as well as between local enterprises and MNEs, we can create a synergy that drives shared growth. This ensures that the partnership is a non-zero-sum game, but a collaborative effort that generates greater opportunities and benefits for local workers and businesses.”
“It can complement the Global Founder Programme by driving investments in start-ups, attracting top talent and giving employees a stake in asset appreciation. But beyond ESOPs, we need a comprehensive, multi-pronged approach to sustain real wage growth and meaningful job creation. First, we must leverage the announced Enterprise Growth Investment Fund and the $1 billion private credit growth fund to include blended capital solutions that drive impact investments. By aligning financial instruments with corporate purpose and societal impact, we can support businesses that prioritise innovation, sustainability and meaningful job creation. Blended capital, combining grants, recoverable grants and equity from diverse sources, such as foundations, bridges philanthropy and impact investments, unlocking additional funding streams. To accelerate this, agencies like EDB and the National Volunteer and Philanthropy Centre (NVPC), which have developed the Company of Good framework and accreditation, should collaborate to develop programs that expand blended capital deployment. Beyond mobilising resources, blended capital can reduce financing costs while enhancing social and economic outcomes. It strengthens corporate purpose, fosters sustainable business growth and creates meaningful employment opportunities, ensuring that enterprises contribute to both economic progress and societal well-being. Second, we must strengthen SMEs, which employ over 70% of our workforce. Whether it is foreign talent or multinational enterprises (MNEs), the concern is that foreign talent and MNEs compete with local jobseekers and local enterprises. Such concerns are valid only if it is a zero-sum game. However, the reality is that it is a non-zero-sum game. There are complimentary advantages.”
“A budget surplus today does not mean we can spend recklessly tomorrow. Instead, we must remain disciplined and focused on delivering real outcomes for Singaporeans. Ensuring that economic growth translates into good jobs and higher real wages is one key measure of success. In 2023, I raised a PQ on real wage growth trends and projections, as I was deeply concerned about whether Singaporeans' wages rise in tandem with living costs. Thankfully, Singaporeans experienced real wage growth in 2024 in tandem with higher-than-expected economic growth. Economic growth must continue to translate into real wage growth, good jobs and meaningful opportunities for Singaporeans. But how do we exactly go about doing this? One initiative I championed last year in my Budget 2024 speech was the adoption of Employee Stock Ownership Plans (ESOPs). ESOPs grant employees the option to purchase shares at a set price upon meeting performance goals, aiming to retain key staff long term. Crucially, ESOPs instil a sense of ownership, boosting motivation and performance. This also translates into high real incomes and enables employees to build their asset base. The promotion of ESOPs can complement the new Global Founder Programme announced in Budget 2025. As we encourage global founders to anchor and grow more new ventures in Singapore, we should ensure that the investments also benefit employees of the investee companies. To promote ESOP adoption, we should introduce an ESOP tax relief, such as a lower income tax rate when employees exercise their stock options. This will anchor talent in Singapore and help Singaporeans grow their income and asset base.”
“By capping preschool fees for Anchor and Partner Operators, early education has now become more affordable, with fees after subsidies being comparable to primary school fees, inclusive of after-school care. This is a significant step forward, ensuring that every child, regardless of their background, have a good start in life. However, Sir, affordability must not come at the expense of quality. Preschool teachers play a vital role in shaping our young minds and their work must be fairly compensated. Given the fee caps, how will the Government adjust funding for Anchor Operators to ensure that preschool teachers are paid fair wages and have adequate resources for professional development? Affordability, wages and social support all intersect at one issue – fiscal management. And that brings me to my next point. Some argue that the tax burden on Singaporeans is high and we have sufficient surpluses to reduce the tax burden. But let us set the record straight: Singapore's tax burden remains one of the lowest in developed countries. Unlike other nations that rely heavily on personal income and consumption tax, our two largest revenue sources are corporate tax and the Net Investment Returns Contribution (NIRC). And as Prime Minister Wong shared in his Budget speech, Singapore expects a budget surplus in FY2024 and FY2025. These are encouraging figures, surpluses give us the confidence and resources to invest in our people and secure good jobs for everyone. The reality is that the Government spending has increased significantly, not just for social and healthcare support, but also for initiatives that will secure Singapore's economic competitiveness and protect our island from the impacts of climate change.”
“Mr Speaker, Sir, in today's volatile world, where global headlines are filled with conflict and economic turmoil, Singapore's stability is more than just a strength. It is our greatest competitive advantage. It is what gives Singaporeans confidence in the future and what continues to attract investments, create good jobs and secure prosperity. This stability is about good governance, a responsible fiscal approach and a united people. If we want to continue finding stability in a world of flux, we must continue making the right decisions and not just the popular ones. One of the biggest tests of our stability today is the rising cost of living. As an MP for Zhenghua, I have witnessed first-hand the challenges that residents face. While data indicate that inflation has eased, prices remain high and families continue to feel the pinch. Singaporeans are adjusting, tightening their belts and rethinking spending habits. Resource-low families are making difficult trade-offs to make ends meet. That is why we took decisive action, launching Zhenghua's monthly $1 Deals and Project Sama Sama, ensuring families, especially those who are resource-low, can access essential food and daily necessities affordably and conveniently. It is reassuring that these concerns are reflected in Budget 2025, with measures, such as the CDC Vouchers and LifeSG credits, offering timely relief. But while short-term relief is necessary, we must also address structural cost issues to ensure that the rising cost of living does not erode Singaporeans' quality of life. One area where the Government has taken a bold structural step is preschool education.”
“We must stay vigilant, ensuring stakeholders have the resources they need and remain open to improvements. If we do this, we can be confident that the Bill will enhance trust, support inclusivity and strengthen the harmonious relationship between employers and employees that is the backbone of Singapore's success.”
“Through partnerships with SNEF, NTUC and TAFEP, the Government will prepare materials, conduct outreach and provide practical tools to train HR professionals, hiring managers and supervisors. These resources will help them identify discrimination, handle grievances effectively and communicate decisions. With proper training, managers can apply the rules confidently, reducing the likelihood of disputes and fostering a culture of fairness. However, fostering workplace harmony requires a concerted effort from both employers and employees. Mr Speaker, Sir, it is often said that employers and employees are two sides of the same coin. While much training focuses on employers, we must also empower employees and jobseekers. The TADM currently provides advisory services to manage employment or payment-related disputes, but more proactive measures are needed. I would like to ask the Minister what specific training and education programmes to familiarise employees and jobseekers with workplace protections, ensuring they understand and can navigate the processes that are in place to safeguard their rights in the workplace. This would also promote greater alignment between employee expectations and employers' resource capacities. Managing expectations through an accurate understanding of the provisions is essential to fostering a harmonious and inclusive work environment. Mr Speaker, Sir, the introduction of this Bill signals that we do not tolerate discrimination in our workplaces. It draws a clear line on what is acceptable and what is not. This is a positive move, one that aligns with our national values of fairness, respect and meritocracy. By posing these questions today, we acknowledge that implementing this Bill will be a journey.”
“Additionally, could there be provisions allowing exempted companies to voluntarily opt in to the Bill's framework and receive formal recognitions for doing so? Such a measure would enable forward-thinking SMEs to enhance their employer branding and position themselves as employers of choice. Smaller enterprises often lack the full range of HR capabilities due to resource limitations. Hence, I reiterate my earlier calls for the MOM to introduce HR-as-a-service, similar to Infocomm Media Development Authority's Chief Technology Officer-as-a-service. Such a service could be facilitated by the IHRP, which is well-positioned to pool HR expertise and deliver scalable solutions for SMEs. I would like to ask the Minister if he would consider such support services to boost smaller enterprises' HR capabilities. The Workplace Fairness Bill sets minimum standards, a welcome step in signalling to errant employers that workplace fairness is non-negotiable. At the same time, we must also recognise and reward progressive HR practices. The SHRI's annual Singapore HR Awards is one such initiative, but there is potential to enhance and expand these efforts. Aside from traditional means to encourage progressive HR practices such as award ceremonies, will the Minister consider widening the range of strategies, such as financial incentives, Government procurement quality credits, certification, spotlighting best practices and scaling up existing ones? Regarding my third point, good legislation sets standards, but it is ultimately HR professionals, supervisors and team leaders who translates standards into fair outcomes. We must ensure they are equipped to interpret and apply the law confidently and consistently. Singapore can do better by offering robust support.”
“For instance, the UK's Advisory, Conciliation and Arbitration Service resolves most disputes before they reach tribunals. Here, employees will be encouraged to seek internal resolutions first. If that fails, mediation through TAFEP or TADM will follow. Only as a last resort, will cases proceed to the Employment Claims Tribunals. This tiered approach prioritises workplace harmony and encourages efficient and equitable resolutions. Regarding my second point on the potential burden on employers, particularly smaller businesses. Compliance can be costly. In the UK, the proposed Employment Rights Bill is projected to raise business costs by billions annually. Similarly, Canada's Employment Equity Act demands extensive reporting and complex policies, while Australia's Fair Work Act has driven many employers to seek costly legal advice to avoid compliance errors. Mr Speaker, Sir, this has implications to prices, hiring and job quality. Singapore's economy depends on an ecosystem of multinational corporations, SMEs and startups. Smaller enterprises, in particular, are concerned about the administrative costs of compliance, such as hiring consultants, lawyers or additional staff. While the Bill initially exempts firms with fewer than 25 employees, I would like to ask the Minister about the consideration factors that would determine the period of exemption and the Ministry's action plan to level up smaller firms. An unintended consequence could be that employees may avoid smaller companies, perceiving them as offering weaker workplace protections. This could worsen the existing talent attraction and retention challenges faced by SMEs. To address this, there is an urgent need to support smaller companies in understanding and implementing the Bill effectively.”