Foo Mee Har
Singapore
“What we need to ensure, therefore, is a better alignment of training and the graduates that we churn out. Loosening the criteria for entry, while simultaneously tightening the conditions for graduation will help keep our tertiary offerings nimble, since we need to worry less about how failing out already small intakes could pre-emptively…”
“Sir, strong R&D support has been central to attracting and retaining MNEs. MNEs have long been a cornerstone of Singapore's economy, driving innovation, investment and job creation. They contribute significantly to GDP, high-value employment, R&D and global trade connectivity.”
“Thank you, Mr Speaker, I have two questions for the Prime Minister. The first question is, with the generous support measures, including the SG60 vouchers, I would like to ask the Prime Minister what impact these measures will have inflation on inflation?”
“So, the Singapore brand has become so exceptional that it is well worth faking, much like a Rolex watch or a Louis Vuitton handbag. And, like these global brands, you know you have made it when imitation becomes the greatest form of flattery.”
“Thank you, Speaker. I thank the Minister of State for the details. I am encouraged to hear the usage but I would like to ask the Minister of State two follow-up questions.”
“Thank you, Speaker. I thank the Minister for his response. I have two supplementary questions for the Minister. First, how does the Ministry plan to leverage the insights from the PIAAC findings, to refine the SkillsFuture programme, particularly in identifying critical skills gaps and developing targeted interventions that enhance the re…”
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“Thank you, Deputy Speaker. I have two clarifications for the Senior Minister of State. First is that when COVID-19 is regarded as endemic and restrictions are eased, infections are expected to increase and more vaccinated patients – vaccinated, that is the new protocol that was mentioned – will be at the care facilities. So, I would like to ask: will this new health protocol put more demand on nurses, as we evolve our health protocol with COVID-19 being endemic? That is the first question. The second question is: how can Singapore ramp up our own supply of nurses to reduce our reliance on foreign nurses? I think the number that the Senior Minister of State mentioned, in terms of yearly intake, it looks like it is a small number, if you ask me. How successful has our Professional Conversion Programme been in increasing the number of local nurses and how can this programme be further enhanced to accelerate the pace? If we are producing 1,400 per year, having put in a lot of effort, how can we accelerate that?”
“Thank you, Speaker. I thank the Minister for his response. I understand a lot of details are not out yet but, I guess, with the announcement, there has been a lot of interest in the industry. Whilst we expect the tax system to evolve, I would like to hear the Minister's thoughts on, for the Minister to speak a little bit more about what specific non-tax benefit could Singapore provide or enhance, in order to compensate for the loss of tax benefits, previously enjoyed by companies, so that there is some level of certainty when companies are planning. Question two is about the carve-outs. I understand that financial services have been a carve-out from this global tax reform. Could the Minister comment on how the financial sector is being impacted including family offices and variable capital companies (VCCs)? And last but not least, on jurisdictions that have been tax havens, without the other non-tax benefits. I would like to ask the Minister, how is Singapore positioning itself to attract companies that are expected to exit tax havens and how Singapore will attract them with other non-tax related benefits.”
“Two, if interest rates rise and the cost of debt servicing hits the threshold, does the Government have the right to divest the Government-owned assets in part or fully to keep within the interest rate threshold? The Government can raise money outside of Singapore and in a currency other than the Singapore dollars. How does the Government intend to manage the foreign exchange risk related to this borrowing?”
“Of course, having said this, given the current low interest rate environment in the foreseeable future, I do agree with hon Member Liang Eng Hwa that it makes sense to tap the debt market now but we must remember interest rate can rise. So, this Bill does provide some buffer for interest rate cycles' yields and the potential for issuances of longer tenure bonds. Mr Deputy Speaker, the Government's intention to issue green bonds under SINGA is a great move. For a start, up to $19 billion in public sector green projects have been identified to be financed by green bonds, including the waste and water treatment facility at Tuas Nexus. SINGA has the potential to catalyse the flow of capital towards sustainable development, not just in Singapore, but in Asia. I have seen a strong momentum amongst investors around the world towards environmental, social and governance (ESG) causes, with increasing numbers of asset owners making commitments to prioritise sustainability and investing for good in their investment portfolio. The green bonds under SINGA are, therefore, likely to be well supported by market demand, attract more favourable pricing and have potential to deepen market liquidity for green bonds. Last but not least, I would like to end by seeking a number of clarifications from the Minister in relation to the assets under SINGA. With the expectation that the infrastructure should be available for use for least 50 years, does the $90 billion limit take into account upgrading and maintenance cost over the lifespan of the infrastructure? If not, where in the Budget does it provide for this cost?”
“Projects under SINGA need to be at least $4 billion, with the infrastructure available for use for at least 50 years, owned by the Government and important to national interests. I call on the Government to put in place a SINGA Evaluation Panel, to include independent expert panels, to ensure all projects funded under SINGA are highly selective, robustly assessed against the qualifying criteria provided under the Bill. There should also be cost-benefit analyses to justify the expenditure. It is important that our borrowings are sustainable and prudent. The Bill includes safeguards that cap the overall gross borrowing at $90 billion. However, Statutory Boards such as HDB, LTA and PUB have also issued bonds on financial markets to finance infrastructure projects. How do we ensure that cumulative bond issuance, whether for SINGA or non-SINGA projects, by all Government agencies as well as contingent liabilities, remain within an acceptable range? Borrowings under SINGA are capped at $90 billion, about 20% of GDP. I would like to ask the Minister, if this limit will be adjusted as GDP grows? How will the Government ensure Singapore's AAA credit rating be preserved amidst increase borrowings? Sir, the Bill provides for an annual interest threshold of $5 billion to avoid imposing burdensome financial costs on future generations. Nevertheless, the potential interest costs of $5 billion on our annual Budget is still very significant. To put things into perspective, the impending GST hike of two percentage points is expected to raise $3 billion in revenue, but GST would have to be raised 3.3% to cover interest costs of $5 billion. This does not include the additional revenue needed to also fund annual depreciation of the capital expenditure borrowed under SINGA.”
“Three, estimate the amount of taxes that would have had to be raised to fund such long-term expenditures, if these were made under the current annual expense approach. Sir, even as I support this Bill, we must exercise utmost discipline in what we borrow for and the extent of our borrowing. I would like to call out the need to guard against going down the slippery slope of other countries, where public debt has been accumulated to higher than that of their GDP, thereby transferring immense tax burdens from today onto future generations. High levels of Government debt can have adverse effects on the economy, including crowding out of private sector investment, creating the expectation of future tax increases and injecting overall uncertainty into the economy. It is critical that SINGA does not represent a material shift from the Government's long-held policy stance of maintaining fiscal prudence. We must ensure that our net asset position remains strong to absorb the borrowings under SINGA. The debt we accumulate must not put unfair pressure on future generations. So, to avoid the temptation of a "spend, spend, spend" mentality that access to "easy" money can engender, it is critical that the Government puts in place the necessary safeguards. It is important that we establish a set of robust parameters at the starting line now. Borrowings must be carefully calibrated and we must draw a red line that should never be crossed. Mr Deputy Speaker, I am, therefore, comforted that clear provisions are provided in the Bill to separate major infrastructure from routine infrastructure and recurrent spending.”
“Mr Deputy Speaker, the proposed Significant Infrastructure Government Loan Bill, SINGA, represents a significant shift in the Government's position on borrowings for the purpose of Government spending. I support the Bill. It is coming at a time when the country is facing another hump in its development spending needs, with plans for new rail lines, water and sewerage infrastructure as well as coastal protection measures against rising sea levels. These important projects come amidst a tighter fiscal situation, exacerbated by the COVID-19 pandemic. The proposed SINGA will enable the Government to continue investing in nationally significant infrastructure which incur heavy upfront costs but provide long-term benefits. With the low interest rate environment and Singapore's AAA credit rating, the borrowing cost associated with SINGA is expected to be low. SINGA will make related amendments to the Financial Procedure Act to provide for capitalisation of the expenditures of these nationally significant infrastructure over the long term. This is in contrast to the current approach of fully expensing off upfront in the annual Budget of the Government. Sir, the ability to capitalise expenditure under SINGA will enable lumpy upfront costs to be spread out across current and future generations who will enjoy these benefits. It will help free up cash for other needs, lessen pressure for tax increases and trade-offs on competing important investments. Sir, I have three questions for the Minister to clarify relating to capitalisation. One, for the Minister to provide details on how far out capitalisation of projects under SINGA will be allowed. Two, quantify the fiscal space created from this new accounting treatment.”
“Thank you, Speaker. I would like to ask the Senior Minister of State one supplementary question. The federal authorities in the US have updated travel guidelines for fully vaccinated people. The US Centers for Disease Control and Prevention have declared that vaccinated travellers do not need a COVID-19 test unless required by the destination country and do not need to be quarantined upon returning to the US but should only be tested before boarding their return flight. I would like to ask the Senior Minister of State if our Health Sciences Authority has reviewed the scientific basis for the US CDC's recommendations and whether Singapore may issue similar guidelines.”
“Thank you, Speaker. I would like to ask the Senior Minister of State for Health two supplementary questions. The first is, the Senior Minister of State did explain about the measures taken to minimise wastage but I would nevertheless like to ask whether a standby system can be arranged to allow those who are not yet eligible for vaccination but willing to wait on standby basis at vaccination centres, to take the place of those who did not turn up, assuming the frontline people and volunteers have already had their turn. So, whether a standby system can be arranged for those who are willing, as it will take to the end of the year for the rest of the population to get their jab. The second question relates to prioritising vaccination candidates. Would mosque staff and volunteers involved in additional night prayers during the holy month of Ramadan be considered to be at increased risk of infection, given that they are expected to serve at least 250 congregants a day?”
“So, how do we evolve our SkillsFuture training eco-system to adopt similar teaching pedagogy like General Assembly, to provide learners with skills accorded in a more formal learning experience with clear links to job performance outcomes? With significant job opportunities in the care, digital and green economy, how can we evolve our reskilling pathways to train for skills needed in these sectors? Sir, I called, in Parliament last year, for the setting up of an Industry Skills Training Scheme to be led by employers and industry groups. The set-up of the industry academies to provide high quality certified courses to support acquisition of skills and capabilities in demand by industry is critical to support reskilling efforts. The introduction of SkillsFuture Queen Bee companies is a good initiative. Queen Bee industry leaders, such as IBM and Google can leverage their best practices, cutting-edge know-how and training solutions to level up the skills capability of companies in the network. Also, the partnership between Goggle, EDB, IMDA and SkillsFuture Singapore for the Skills Ignition SG has the potential to boost jobseekers' employment and employability. So, I would like to ask: how can SkillsFuture Queen Bee programme and Goggle-type initiatives be expanded to bring more industry leaders onboard the reskilling effort?”
“Chairman, I declare my interest as CEO of WMI, an education institute. COVID-19 brought significant disruption to the global economy and, with it, also permanent changes to the job landscape. We witnessed a unique situation, where millions of workers became unemployed on one hand and significant numbers of new jobs created on the other. The skills mismatch has never been more stark. Whilst Singapore has managed to keep unemployment at bay with generous job support schemes, many have flagged under-employment as the bigger issue. A trend has been observed in a recent Joint Autonomous Universities Graduate Employment Survey. It reported that fewer Singapore graduates secured permanent full-time jobs in 2020, along with a spike in part-time and temporary employment, amidst the pandemic. As Singapore shifts its focus towards recovery and emerging stronger, we need to accelerate support for Singaporeans to pick up skills they need to move into new jobs and new sectors. The Government, employers and workers need to join forces to embrace reskilling pathways to address the skills mismatch. According to a Harvard Business Review article, reskilling refers not only to learning specific job technical skills but also to acquiring core competencies, such as adaptability, communication, collaboration and creativity. The process of reskilling successfully for a new job or to carry out new tasks requires significant commitments of time and investment. For example, the General Assembly's immersive courses that help participants gain skills for jobs in technology, data and other digital roles, typically take 480 hours of live instruction, either online or in a physical classroom, are often delivered over an intense 12-week period.”
“Chairman, as Singapore re-defines our competitive edge by pivoting towards innovation, we will need to create multiple pathways for Singaporeans of all potential to develop and thrive. Achieving this will require the creation of "pathways to excellence" in multiple fields and disciplines, and both public and private tertiary institutions should have roles to play. Singapore can be proud of a public education eco-system that delivers world-leading education outcomes and boasts some of the world’s best universities. So, we are very proud of our public universities eco-system. But our private education system also has produced high quality providers in specialised areas, such as LASALLE and the Nanyang Academy of Fine Arts. These specialised institutes are able to deliver excellent outcomes and are seen as leaders in their own field. Looking globally, we see many examples of private schools offering "pathways to excellence" in high-demand, specialised areas – for example, the Parsons School of Design in New York as well as EHL for hospitality at Lausanne, Switzerland. Similarly, Singapore can encourage private education institutes to fill talent gaps in the specialised fields and to build best-in-class capabilities in niche areas, and thereby complement the broad-based education offered by our public system. Sir, we should consider enhancing the Private Education Institution (PEI) framework to enable PEIs that have the required track record, capabilities and academic rigour to have their own degree awarding powers. This will enable Singapore’s top quality home-grown PEIs to be independent of their overseas partners and have the autonomy over their curriculum design, development and delivery. University Cohort Participation Rate”
“Thank you, Chairman. I have two clarifications for the Minister and Minister of State. Let me start with the first one. Minister of State spoke about the Tech.Pass programme that was launched. It is attracting strong interest, but I do not believe there was much colour. I did ask quite specifically to give us some colour about the type of entrepreneurs that it was attracting. What are the some of the things they are bringing to Singapore? So, if Minister of State can give a bit more colour about the success of this scheme because I think there is a lot of interest. The second clarification is for Minister Tan about the nurturing of the deep-tech start-up eco-system. I had asked what is our share of the deep-tech start-up given that Singapore is particularly known intellectual property protection. So, are the start-ups that we are nurturing, are they of the deep-tech type?”
“I especially welcome the Local Enterprises Funding Platform to support large local enterprises from the more traditional sectors with $1 billion in Government and Temasek funding. Companies should seize this additional funding to embark on transformation to reinvent and rejuvenate their business model. In addition to Temasek, the Government should also consider the participation of other established private equity firms for more parties to contribute to the development of these local corporates. Besides funding, we should support large local firms to access R&D in their pivot to new growth areas as well as higher value-added services and offerings. They can also benefit from support in forging new partnerships locally as well as internationally. Sir, as Singapore embarks on the next phase of expansion of the manufacturing sector by attracting market-leading manufacturing firms to anchor their operations in Singapore – the hon Liang Eng Hwa mentioned a few – I call on the Government to ensure that this ambition achieves a wider impact so that these high-value or advanced manufacturing firms catalyse an entire generation of supporting local industries, all of whom may grow in tandem. How can the Government spur partnerships with local corporations and the development of an integrated value chain that includes sub-contractors and service providers in Singapore, as well as opportunities to venture overseas together? Recovery and Longer Term Trends”
“In a fragmented world where trust is in short supply, this is the time that Singapore is well-positioned to capitalise on the premium for quality, resilience and neutrality, all of which play to Singapore’s strengths. This is an opportune time for Singapore to capitalise on our brand. Sir, I would like to ask what initiatives have EDB and other agencies undertaken to step up the marketing of Singapore as a leading global business hub, recognised for its quality infrastructure, safety, stability, connectedness and accessibility? Can we work towards a Singapore certification framework that provides Singapore companies, especially our SMEs, a quality certification for their products and services, similar to the Swiss Label and the Brand K initiatives in Switzerland and Korea respectively? Second cut. Supporting Local Corporates Chairman, whilst it is understandable that existing broad-based fiscal support cannot be sustained indefinitely, we should be cognisant that companies need time to recover. Any premature withdrawal of support may undo the good work already invested to keep them afloat during the pandemic. According to an SBF National Business Survey, only 38% of total transactions were paid on time, and almost 50% of late payments were above 30 days past due, on top of the credit terms already offered. Therefore, it is critical to time the withdrawal of loan schemes carefully, including the Temporary Bridging Loan Programme (TBLP) and SME Working Capital Loan, in order to ensure the much-needed relief in cash flows does not vanish suddenly. The Government has sent a strong signal that it will back firms, support firms, that are ready to transform in this Budget.”
“Chairman, COVID-19 has accelerated the bifurcation of global trade and exposed the vulnerabilities in inter-connected supply chains. As countries and companies rebuild business networks, relocate value chains and continue to de-couple, Singapore must work to stay relevant and position itself for the shifting economic landscape. How has Singapore performed as an investment destination in the midst of the pandemic and what strategies is the Government pursuing to distinguish ourselves as a business hub? Singapore must redefine our competitive edge by pivoting towards innovation as a driver of growth and a vibrant digital economy. So, I would like to ask: what progress have we made to nurture a strong start-up eco-system and how does Singapore compare to other start-up eco-systems in Asia and across the world? Singapore is recognised globally for its leadership in the field of intellectual property protection and scientific research. So, are we attracting our fair share of deep-tech start-ups in search of robust IP protection? To support the development of the digital economy, it is critical to offer corporations access to top-tech talent. How is Singapore doing in our efforts to develop tech talent from our Institutes of Higher Learning as well as programmes, such as TechSkills Accelerator? How successful has the Tech.Pass been in attracting established tech entrepreneurs, leaders or technical experts from around the world to come to Singapore, where they can nurture disruptive innovation? Singapore’s handling of the COVID-19 pandemic has also shown the world once again what we are capable of as a people and as a nation.”
“How can Government developed APIs be shared with local businesses to support fast track development of new commercial applications? What plans are there to foster a closer partnership and cocreation with the local businesses in delivering solutions? Enhanced Support for Firms and Citizens”
“Chairman, the Government can play an active role to give local businesses a leg up. Sir, I am particularly heartened by the support to our heartland businesses and hawkers by the partnership between MOF and Community Development Councils (CDCs) to give all Singaporean households $100 worth of CDC Vouchers to be used at participating heartland shops and hawker centers. This will not only go a long way to bolster the vibrancy of our local merchants but to foster a strong spirit of community and solidarity. SingapoRediscover Vouchers is another excellent example of supporting local tourism at a time when they most needed it. The scheme was off to a good start, but it will need Government’s support to give it a boost in usage. The key challenge based on feedback from my residents is in navigating the various participating websites to look for something of interest. The current process of redemption seems time-consuming and complicated, especially to the less tech savvy. Government can support businesses better by flowing assistance to them more easily, staying nimble and customising support. To achieve flexibility and agility, Government will need to gain new capabilities in setting more dynamic parameters and monitoring mechanisms. I would like to ask if the Government has leveraged AI, Artificial Intelligence, big data as well as analytics to achieve better outcomes in grant support. Sir, there is much demand for the Government to enable local businesses to leverage publicly developed infrastructure and capabilities to catalyse development of industry’s eco-system. This is especially relevant with respect to datasets and applications specific to Singapore as part of our digitalisation efforts.”
“I propose that the MOF consider the formation of an independent fiscal council, the Parliamentary Budget Office of Singapore seeded with an initial $20 million and tasked with the mandate to score all major policy proposals, formally advanced by Members of Parliament for budgetary and macro implications.”
“The support functions that fiscal councils offer include public assessments of fiscal plans and performance and evaluation of all provision of macro-economic and budgetary forecasts. While these functions may already be performed to some degree by MOF, MOF reports to the government of the day. In contrast, the fiscal council will provide advice and the key here is advice as they do not possess any formal power to determine the Budget to the whole of Parliament at their request. As such, the Council will be available to scrutinise policy proposals offered by PAP backbenchers as well as Opposition parties. I should point out that a proposal to form an independent Office of Budget Responsibility was raised by Mr Low Thia Khiang of the Workers' Party in 2017's Committee of Supply debates, This proposal builds on that, detailing the functions of the proposed agency and its service to the full legislature, and underscore the distinct macro-economic environment of the day. There is evidence that fiscal councils can improve fiscal performance, especially when such Councils enjoy legal and operational independence, are tasked with monitoring fiscal rules and are supported by a robust media presence. Moreover, an independent fiscal council can be especially useful at this juncture in our economic evolution, given how we are currently running the largest Budget deficit since Independence, with substantial uncertainty over the likely future evolution of our economy. Unlike the past where our Government has run balanced Budgets over successive terms and, hence, we may have had little need for this institution, there was an unprecedented deficit over the last term of Government which necessitated a draw on past reserves.”
“What KPIs are used to track progress and success to ensure public funds are judiciously allocated? Sir, as the Government will face major constraints in its fiscal position in the coming years, the value-for-money culture and accountability for the outcomes of spending cannot be more important. How is MOF deploying technology and data as the key enablers for agencies to better plan, collaborate and deliver public services more efficiently and effectively? Case for an Independent Fiscal Council Assoc Prof Jamus Jerome Lim (Sengkang): Chairman, fiscal councils are agencies staffed by professional civil servants which evaluate policy proposals to provide budgetary implications. To-date, there almost 40 fiscal councils worldwide concentrated among advanced economies. Some are comparatively older. The Netherlands Bureau for Economic Policy Analysis dates back to just after the end of the Second World War while the Congressional Budget Office which serves both Houses of the United States legislature was founded in 1974. 7.45 pm Others have more recent prominence but have, nevertheless, become rapidly influential. Canada's Parliamentary Budget Officer was established in 2006. The United Kingdom's Office for Budget Responsibility was formally constituted in 2010 and most fiscal councils within the EU were set up following the European Fiscal Compact in 2012. Importantly, fiscal councils are independent and are expected to provide non-partisan assessments of the expected effects of policy on revenue and expenditure. As such, they serve as trusted public institutions that can help score, reform ideas and proposals to help ensure the economy's commitment to sustainable public finances.”
“Chairman, unprecedented Government expenditure has been incurred in the fight against the COVID-19 pandemic. It is important that proper controls, governance and accountability over the use of public funds are maintained, even as Government agencies react swiftly to the evolving pandemic situation. Most importantly, support measures should be fair and must reach targeted groups, especially vulnerable groups such as low-income workers and families who have been disproportionately affected by the pandemic. The Jobs Support Scheme (JSS) was by far the most significant cost item in the Government’s expenditure to fight COVID-19. It was a lifeline to many companies, helping them keep local employees on payroll. It was broad-based, benefiting all companies albeit at different support tiers. With COVID-19 pandemic impacting industries and companies unevenly, questions have arisen on whether JSS could have been more targeted from the beginning, channelling differentiated and sustained help to impacted sectors and none to firms that are positively impacted. In some countries, such as Australia, eligibility for wage support only kicks in if business turnover drops by 30% due to the pandemic. Whilst I appreciate it is easier to assess impact on hindsight, could the Minister share how the Government prioritised assistance and channelled funding support during the outbreak? What was the rationale to provide JSS across the board? Sir, with increasing support directed towards new areas of development, including R&D and start-ups, the measurement of grants’ outcomes and success will need to evolve to different sets of parameters and time horizons. How does the Government evaluate the return on investments for such support schemes?”
“I thank the Minister of State for his answer. I understand that, operationally, it can be quite complicated to allow the travellers to choose. But I would like to appeal to the Government, given that we have been in this phase for almost a year now and that many families especially those who need to go through the quarantine period, for example, those bringing in foreign domestic helpers, I have had many residents come and appeal, that the cost is really quite significant for the families to bear. So, I would like to appeal for the Government to really think of a more economical option so that families who do need to go through a quarantine for different reasons, including onboarding of foreign domestic helpers for the care-giving needs, can have a more economical option for them to choose.”
“By contrast, I have seen many businesses thrive by cultivating a strong local team who are committed to the long-term success of their employers' business, often by focusing on the right compensation and nurturing a healthy work culture. I think Sheng Siong must have received many job applications since announcing their bonus. So, there is no better time to build a strong Singaporean Core for long-term sustainability. Mr Speaker, the pandemic has impacted low-income workers disproportionately and we need to hasten the expansion of the Progressive Wage Model to more sectors. To keep unemployment low, I think it is right that we focus our efforts on providing jobs and training rather than unemployment benefits. However, with greater disruption and uncertainty, it is imperative that we find ways to hasten the safety net for those who are still unable to secure employment. For gig workers, we should heed the recent ruling by the UK's Supreme Court, that Uber drivers be considered "workers" and not "independent contractors", entitled to certain protections over their pay and working conditions. Sir, we owe it to these fellow Singaporeans to make urgent progress in these areas. Sir, in conclusion, I thank the Deputy Prime Minister and the MOF team for a thoughtful Budget. COVID-19 has shown the world yet again what Singapore is capable of. In a fragmented world where trust is sorely lacking, Singapore has much to offer as a "safe, trustworthy node", as Deputy Prime Minister said. The strategic value of our reserves has never been clearer. We have a clear roadmap to recovery. Let us press ahead together. Sir, I support the Budget.”
“I expect that this will continue to sustain green shoots of recovery in the labour market and create opportunities for this year's cohort of graduates entering the workforce. However, whilst unemployment is kept at bay, we must be vigilant against underemployment. The mismatch of skillsets, which occur when workers take any available jobs just to stay employed, will cause their deep and hard-earned skills to "atrophy" over time, along with their motivation and commitment to their work. This issue is particularly pertinent amongst older PMETs whose careers are being disrupted, resulting in a reservoir of unused skills and experience. We must develop new models to support mid-career professionals transition to new careers. These should include some form of financial support that enables them to take time off to study and build new expertise, so that they can meet the financial commitments they incur at their particular stage of life. The COVID-19 pandemic has also provided employers an opportunity to relook at their reliance on foreign labour. The foreign workforce was reduced by 16% during the pandemic, that is, in one year, 16%. JSS support was restricted to locals and rightfully so, and the closure of borders disrupted the supply of foreign labour. Many employers have told me about their frustrations with foreign workers' demands for pay increases and their changing work attitudes resulting from a scarcity of workers. Together with costs resulting from workers' Stay-Home Notices and safe management measures, employers' foreign labour costs have escalated.”
“I would like to ask the Government if wealth tax is being contemplated and what the considerations for such a tax would be? The COVID-19 pandemic has triggered major shifts in the global economic landscape. Singapore needs to urgently bolster its attractiveness as a regional and global hub. I welcome the slew of capital tools to co-fund transformation. The growing awareness of climate change is spurring businesses and countries the world over to embrace sustainability as an urgent agenda. The Singapore Green Plan 2030 is therefore well-timed to galvanise a national movement, not only to achieve sustainable development, but also to build "exportable" capabilities such as sustainable urban solutions. Our Green agenda holds much promise for our future. The issuance of green bonds will provide a substantial capital base for sustainable developments, not only in Singapore but also throughout the region. Singapore is well-positioned to serve as a living lab and testbed for emerging green technologies as well as a hub to foster collaboration and co-creation. It is critical that in our drive for sustainability, we fully leverage this opportunity to groom a new generation of green local firms, support them to build their green capabilities and position them to capture emerging opportunities. I would like to ask the Government to ensure development of green local firms be an integral part of the $25 billion investment under RIE2025, focusing on urban solutions and sustainability. Mr Speaker, I welcome the generous $5.4 billion being committed to support the hiring of locals through Job Growth Initiative and also traineeship and training opportunities.”
“Sir, I had previously called for measures to address tax leakage and a leveling of the playing field for local retailers. I am therefore happy to hear the Deputy Prime Minister's announcement that GST will be extended to cross-border e-commerce transactions of lower value goods, which is expected to grow exponentially in the coming years. I would like to ask how much revenue this tax is expected to raise? Mr Speaker, I had also spoken about wealth tax on numerous occasions in Parliament. The trend of getting the wealthy to contribute more is gaining traction globally. In fact, the wealthy themselves are stepping forward to give back in significant ways, with philanthropy featuring as a key agenda in their wealth planning. Argentina imposed a one-time levy on millionaires in December. Several other countries, including the UK, has brought wealth tax into the spotlight with an independent Wealth Tax Commission issuing their final report. Proposals to make wealth levies easier to administer, for example, include targeting a smaller group of extremely wealthy people, relying on advances in financial transparency and technology. From the various reports, a one-off wealth tax may seem economically efficient, structured as a one-off exceptional response to the pandemic. UK had introduced one-off "windfall taxes", including the 1997 windfall tax on privatised utilities. The construct of pandemic Excess Profit Tax, to extract higher revenues from businesses that are able to exploit the effects of the pandemic, has also surfaced. Sir, when you consider that selected entities and individuals may have enjoyed outsized windfalls because of COVID-19, it may not be unreasonable to expect that them to do more for the common good.”
“Most significantly, the Government intends to borrow up to $90 billion to create fiscal space to press on with major and long-term infrastructure investment, despite the uncertain economic environment. The Government has not borrowed since the 80s for infrastructure development. Using debt to fund large, long-term infrastructure will go some way to reduce the pressure of raising revenue and not crowd out important long-term infrastructure investment. The Significant Infrastructure Government Loan Act or SINGA Bonds, which include green infrastructure bonds, will also support the development of Singapore’s bond market. Given the prevailing low interest rates coupled with Singapore’s AAA credit rating, the cost of borrowing should not place undue burden on future generations. Sir, even as I support the use of debt, even as I do support, we must exercise great discipline in how much we borrow and what we borrow for. There is good debt and there is bad debt. We must guard against going down the slippery slope of other countries where the burden of debt repayment becomes a major component of the country's finances. It would not be sustainable to depend on borrowings to fund our recurrent spending needs, such as healthcare and education. It is in this spirit that we would not borrow money to pay for daily consumption. We would, however, borrow to invest in our flat, to provide a long-term home for our family and an asset in our retirement. So, I would like to ask the Deputy Prime Minister how the $90 billion limit on debt issuance was set. Would this limit be adjusted as GDP grows? How vulnerable would we be if interest rates move up? What is the expected repayment burden on future generations? And how would Singapore's AAA credit rating be impacted with the borrowing?”
“Mr Speaker, Budget 2021 must be taken in the context of a nation emerging from the tumult of FY2020, during which no fewer than five Budgets were passed. The impact of COVID-19 on our economy might well have resulted in a deep and enduring recession, had it not been for the series of fiscal and monetary policy moves. Besides intervention in public health management, the wide-ranging support from the Job Support Scheme (JSS), the loan moratorium to rental waivers helped sustain jobs and businesses. Sir, we averted a GDP contraction that could have been over 12.4%, and there are already early signs of a steady recovery in our economy. Going forward, support will be targeted and loan repayments will need to resume. As we taper down the support schemes that have kept many businesses afloat, we should be prepared for the increased risk of business closures and lay-offs. For this Budget, I agree with Deputy Prime Minister Heng Swee Keat that switching our focus to transformation and growth will give us the best chance to secure the best opportunities for Singapore. We have to prepare ourselves for a post-COVID-19 world that is completely and forever changed, and secure a prominent role for ourselves in it. Mr Speaker, in this debate, I wish to speak on the need to sustain fiscal strength and discipline as well as supporting our businesses and people in the journey of transformation. Sir, the determination of this Government to emerge strongly from the pandemic is underscored by the extraordinary set of financials announced in this Budget. To sustain relief in the immediate term, Singapore will draw on the reserves for the second year running. For Financial Year 2021 Budget, it will be expansionary, running up a deficit of $11 billion.”
“Thank you, Speaker, and thank you, Ministers, for the comprehensive responses. I have two supplementary questions. First, we take comfort from Minister Gan's report that Singapore has secured sufficient supplies for the entire Singapore local population and that vaccination is anticipated to complete by the third quarter of 2021. I would like to ask the Minister: what are the risks of Singapore not getting delivery of our vaccine orders even though we have secured them – whether they will be delivered as we compete with other nations to get hold of the vaccines? That is the first supplementary question. The second supplementary question is, testing has been a key requirement for travel under COVID-19 conditions. I would like to ask the Minister whether the Government will add vaccination in the future as a qualification for travel and perhaps even for employment in certain occupations or engagement in certain social activities. Particularly, also related to this question on vaccination, how would vaccination be featured in the upcoming World Economic Forum (WEF) to be hosted in Singapore in May?”
“Mr Speaker, I thank the Minister for Manpower for her response. I appreciate that the companies are impacted in an uneven way during this COVID-19 pandemic. But the National Wages Council Guidelines for employers to implement temporary wage cuts to save jobs is actually too broad and left too much to the discretion of the businesses. There were a lot of concerns on the ground about the signalling effect of the Guidelines, which may result in more widespread pay cuts than necessary because there is this Guideline, and the potential abuse by some opportunistic firms. So, how do we ensure that companies implement wage cuts fairly and reasonably, and restore wages in tandem with business recovery in a timely manner? I would like to encourage the Minister to consider putting in place a set of transparent indicators to guide wage adjustments, rather than leave it so broad and at the discretion of the businesses. For example, indicators for companies' efforts to reduce non-wage costs before wage adjustment, or company profitability, and market and economic indicators. I have a second supplementary question to this. For lower wage workers who are impacted by the wage reduction, will the Government consider a Workfare special payment to cushion the pay cut in order to ensure that these families have a basic level of income to sustain their daily living?”
“Thank you, Speaker. I thank the Senior Minister of State for the elaboration. He mentioned a number of factors that were key in driving the premium increase including medical inflation and so on. I would like to ask the Senior Minister of State whether MOH would develop a transparent framework where you actually itemise the factors that contribute to the premium increase – just like the Fare Adjustment Formula used by LTA to justify the transport fare adjustment is being done. This is to allow a level of transparency of factors when MediShield Life premium increase. That is the first supplementary question. The second question also touches on a number of points that the Senior Minister of State mentioned. To me, the best way to control healthcare cost is for the population not to fall sick in the first place by staying healthy. As MediShield Life premiums are universal and their contributions mandated, how can the healthcare system evolve to a model where Singaporeans are incentivised to live a healthy lifestyle, perhaps by enjoying lower premiums based on the individuals' history of healthy living habits and lower consumption of healthcare services?”
“With many residents experiencing income reduction, I hope the Government will also review the very strong policy lever they have, the Workfare Income Supplement as a possible means to top-up the income for low-wage workers whose pay has been impacted by the COVID-19 pandemic. Mr Speaker, we are confronted by the greatest crisis of our generation but, just as Sir Winston Churchill said, we should, I quote, “never let a good crisis go to waste”. This may be just the catalyst that reskills, transforms and strengthens Singapore’s greatest resource – our people – and catapults us into the forefront of an international recovery when the tides are with us once more.”
“The biggest hurdle for many is the documentary evidence of income reduction, requiring the co-operation of employers. For example, one of my residents told me that her employer threatened to terminate her services altogether, if she reported her pay reduction in order to qualify for CSG. Less educated senior residents who work in low-wage jobs struggle the most with the application process. Even though residents find comfort in the extension of CSG support till the end of this year, many are unsure about how they may meet the requirement to prove to the authorities that they had made sufficient effort in job search and training in order to qualify for this support. Sir, with 46,000 or 35% of applications rejected, I would like to ask the Government to seriously review the CSG scheme to address the challenges faced by residents. The scheme should allow room for unique circumstances and empower approving officers to apply good sense and compassion in hardship cases that may not neatly fit the criteria. With the impact of COVID-19 likely to be protracted and uncertain, the support level provided under various support schemes will also need to be reviewed and extended beyond the period currently provided by the Deputy Prime Minister in his Ministerial Statement. We need to provide for families a sustained level of basic daily expenses, medical coverage and retirement adequacy should their livelihoods continue to be disrupted. We cannot stop at the time that we have indicated if the situation continues.”
“IST programmes should provide a clear training pathway for new entrants to the industry as well as for existing employees. Where appropriate, credit-bearing structured internships should be an integral part of the training. Training providers should be incentivised to achieve positive employment outcomes linked to their training and not just focused on the delivery of these programmes. Sir, Singapore’s effort to emerge stronger must be accompanied by our ability to successfully help our people retool and reskill. Mr Speaker, I support the Government’s approach on the Jobs Support Scheme transitioning to a much more differentiated level of support for companies. I would like, nevertheless, to repeat my call that well-intended assistance to companies that may not have a viable future in the post-COVID-19 world may hinder restructuring efforts and slow down re-allocation of labour and resources. Sir, I have seen the pain and frustration of residents who are stuck with companies with poor prospects, anxiously waiting and hoping for their "old" business to recover whilst fearing their eventual closure. So, I would like to call on the Deputy Prime Minister to review the COVID-19 Support Grant (CSG) to allow workers who voluntarily leave companies in sectors with poor prospects to also qualify for CSG. It is time we pivot our assistance to support our people rather than simply preserving any and all jobs. Remove the involuntary unemployment requirement from CSG for workers in selected sectors and set our people free to pursue more promising careers. Sir, whilst I understand the need to exercise prudence and care when providing financial assistance, many residents have expressed their frustration with the CSG application process.”
“With growing acceptance of remote working, businesses are widening their talent search for skillsets and deep knowledge beyond Singapore’s shores, under the Work From Anywhere in the world policy. It is, therefore, of paramount importance that we support our adult workforce with an education regime capable of equipping them with skills and capabilities that match the labour needs demanded by employers and industry robustly. Starting from a position of strength, SkillsFuture 2.0 must evolve to foster stronger linkages between training programmes, skills acquisition and improved career prospects. Training that people attend must count. To achieve this, I call for a Government-led effort to introduce a new category of training programme, maybe called Industry Skills Training (IST) Scheme. A key feature of this IST Scheme is the requirement to address labour force demands, with the strong involvement of prospective employers and industry group in training design and delivery, in collaboration with the training providers. The Swiss and Swedish Vocational Training Systems are useful references in designing the IST Scheme. The Governance framework of IST programmes must facilitate clear identification of training needs and accountability of training effectiveness and quantifiable outcomes, with the industry and employers both playing pivotal roles. The programmes should be anchored upon a clearly laid out, systematic skills ladder for the respective sectors organised along ITM clusters and include training for new business models and solutions within that sector. Skills certification should be portable and should, if it works, right skills are being charted, correlate with pay levels.”
“COVID-19 has accelerated structural shifts and we must redouble our efforts to equip our people with the necessary skills to thrive in a post-COVID-19 world. Singapore has the foresight to launch SkillsFuture more than five years ago. The movement was driven by the imperative to have Singaporeans develop new capabilities for the future and embrace a culture of lifelong learning in order to ride the waves of change brought upon by rapid technological disruptions and economic restructuring. This imperative is now more urgent than ever. Whilst the SkillsFuture movement has galvanised much awareness on the need for lifelong learning and led to greater participation in training programmes, Sir, it is less clear how SkillsFuture training is linked to the attainment of distinct quantifiable skills, career advancement and wage growth. I often hear the frustrations of residents, particularly those who have been retrenched, that their efforts to attend training courses are not matched by recognition accorded by prospective employers and made very little difference in their job search efforts. Employers themselves have shared their own frustrations. Many employers, especially the SMEs, are at a loss as to how they may identify the right training programmes best suited for their employees to support the restructuring of their business. Sir, notwithstanding the Government’s strenuous efforts to tackle unemployment and retrenchments, surveys have found that employers expect a talent crunch this year – this very year, a talent crunch – and 42,400 vacancies remain unfilled as of end-June 2020.”
“We must ensure that the choices we make are prioritised to deliver the best outcomes for our people and businesses. With sharp deterioration in growth outlooks expected of all major economies, Singapore’s revenue outlook will remain uncertain and challenging for several years to come. I guess we were all worried when the Deputy Prime Minister spoke about the need for higher taxes. Given the gloomy economic environment, residents are understandably concerned about the impending GST hike. I would like to ask the Deputy Prime Minister whether the original sums worked out by the Government still hold – that is, to provide a $6 billion Assurance Package to cushion the impact of the GST increase when it comes for the majority of Singaporean households, whilst counting on foreigners and tourists to contribute to a substantial share of the additional revenue. Travel disruptions will surely impact GST collections from foreigners and tourists. The assumptions behind the GST hike must be reviewed to take into account the impact of COVID-19 on people and businesses. COVID-19 has also led to an accelerated growth of e-commerce. It has, therefore, become ever more urgent for Singapore to arrest tax leakage in cross-border online transactions and level the playing field for our retailers. The exponential growth of e-commerce may yield substantial GST contributions if the tax regime is enhanced. We may not be able to avoid raising taxes to fund our rising expenses, but we must continue to find ways to keep taxes and transfers progressive and fair. I have spoken about wealth tax in my earlier speeches. Sir, I would like to declare my interest as the CEO of an education and research institute serving the finance sector.”
“Mr Speaker, I rise in support and thank Deputy Prime Minister Heng Swee Keat for outlining the Government’s strategy to emerge stronger from the COVID-19 pandemic. The pandemic has led to permanent changes across industries. Even as COVID-19 continues to rage on in many parts of the world with new waves of infection, Singapore is, indeed, in an enviable position to shifting focus to recovery and growth and seizing opportunities in a new world order. Significantly, we announced the Hong Kong and Singapore travel bubble today which, hopefully, represents a pathfinder to revive our air travel. Much has been done to cushion the impact of COVID-19 on workers and businesses and it is now time to press the reset button and focus our efforts on building new capabilities for the post-COVID-19 world. With the honour of speaking last, I would like to cover Singapore’s fiscal position, SkillsFuture 2.0 to make training efforts impactful and the need for an enhanced version of COVID-19 Support Grant. Sir, the allocation of close to $100 billion to support families, workers and businesses effectively means that almost all the accumulated surpluses from the last 20 years have been consumed in dealing with this crisis. I am comforted that the additional measures announced by the Deputy Prime Minister do not require any further draw on our reserves and will be funded by re-allocating monies. The impact of the COVID-19 pandemic is expected to be protracted, so it is prudent that we adopt a financially sustainable approach as we settle in for the long haul. To this end, we must ensure that the COVID-19 response measures are targeted, prudent and implemented cost-effectively. We must also critically review and prioritise future expenditures, in line with tighter fiscal space.”
“But I believe that, in a world made more turbulent and uncertain by COVID-19, Singapore’s unmatched proposition of a world class infrastructure, rule of law, financial and political stability and now, best-in-class healthcare, is made even stronger. As a destination for global wealth assets, Singapore offers peace of mind and will continue to be attractive even if our well-structured tax regime imposes higher rates. The effects of the pandemic, which have recently included surging stock prices alongside mass unemployment, risk bringing about a more unequal society, more disparate incomes, a wider gulf between rich and poor. To be sure, COVID-19 affects everyone, but for lower income citizens, the impact could be devastating. Our people are frightened and worried – they need our help and they need our assurance. We, in this House, must lead with compassion, wisdom and courage. During the recent General Election, many of us promised our residents that, as they faced the struggles of this pandemic, they would not walk their journey alone. It is time we kept our promise to them. Mr Speaker, I support the Motion. 2.45 pm”
“Instead of sinking millions into JSS for these companies, why not help affected workers from distressed firms directly? These workers could benefit from the Government’s direct financial assistance – start afresh to seek new careers and undergo training to move to more promising sectors and occupations. Their future should not have to be so inextricably linked to their companies’ ability to rebound. Empower the workers to seek a better future for themselves. Sir, the poor and vulnerable have been the hardest hit by the pandemic. When lower- income residents lose their jobs or experience salary cuts, they have little savings to fall back on. Every week, I witness the hardship endured by self-employed gig workers, first-hand. I see the difficulty of many laid-off residents to secure employment and feel their frustration. The introduction of COVID-19 Support Grant to help the unemployed and SIRS to help the self-employed are steps in the right direction. At this time of great uncertainty and disruption, we owe it to our people to provide some universal safety net in the form of support for basic income, medical coverage and retirement adequacy, so that families can cope. In years past, Singapore has managed to avoid implementing these safety nets– but the world has changed and we should reconsider our position on some of these "sacred cows". Sir, as Singapore faces a challenging fiscal environment given the poor economic outlook, I would like to repeat my call to the Government to consider an even more progressive personal income tax and consider introducing wealth taxes and estate duties – all aimed at building a fairer and more equal society. In the past, reluctance to do so has been down to the fear of driving away wealthy investors.”
“We have also often heard of discriminatory practices against mothers and minorities. I call on the Government to consider implementing an Equal Employment Opportunities framework to stem discrimination in employment practices. Employers should institute hiring practices that engender blindness in the workplace towards age, gender, race, disability and everything else that they may discriminate against – for a more diverse representation across all groups. Employment equity is a matter of dignity – everyone should have an equal opportunity to work and contribute to society. At the same time, employers stand to gain from a diversified and competent workforce, one that promotes inclusion in the workplace. Sir, Deputy Prime Minister and Finance Minister Heng Swee Keat announced the further extension of the Job Support Scheme or JSS, to help keep companies afloat and save jobs. Whilst I support the need to preserve our core capabilities in key sectors such as aviation, I question the sustainability of extending JSS indefinitely. It is about time that the Government transition to a much more differentiated level of support for companies. Well-intended assistance to prop up firms who are not viable in a post-COVID-19 world, may inadvertently provide them with artificial life-support to extend their decline, thus hindering the reallocation of labour and resources. Instead, we should pivot our assistance programmes to help workers find new careers and learn new skills. As much as we think JSS will help to save jobs, many citizens shared about their struggles of being "stuck" with employers whose businesses are no longer viable, whilst they experience significant reductions in pay and prospects.”
“False declarations should carry penalty under Singapore’s laws. The current negative sentiment against foreigners will ease when Singaporeans believe that the system takes care of their interests and it means something to be a Singaporean when applying for a job. They will be more amenable to hosting international expertise in their midst when they believe that they will benefit from a systematic transfer of skills and knowledge from foreign colleagues. Singaporeans’ attitudes toward foreigners will be more welcoming and the Government can aid this effort by putting the right systems in place. Sir, during one of my international assignments to Canada 25 years ago, for a recruitment drive to source for bankers of Asian origin to return to Asia, I chanced upon Canada’s Equal Employment Opportunities framework. Even then, 25 years ago, it was against Canadian law to ask candidates about their age, gender, race, maritial status and disabilities – all things we do routinely in Singapore, as part of our employment process. To comply with Canadian laws, HR changed the application forms, removing all reference to these factors and focused the selection completely on job-related skills and experience. This experience left a deep impression on me – that candidates should indeed be assessed purely on their competencies, skills and experience to do the job – and nothing else. In Singapore, despite numerous Government schemes encouraging the employment of older workers and mid-career Singaporeans, I often hear our citizens’ frustrations that their age and previous pay act as barriers to securing new career opportunities. This, despite genuine effort on their part to lower their expectations of rank and pay.”
“Similarly, even as Singapore continues to welcome the brightest and best from around the world to help our country reach our standards of excellence in every field, we must promote the hiring and training of locals. Both objectives can be achieved concurrently. To ensure our economy is undergirded by our strong Singaporean Core, our manpower policies must ensure it happens. I urge the Government to put in place four key measures. First, enforce transparency of selection requirements. Apart from requiring that the job vacancy be posted for 28 days, the selection criteria must be completely transparent. The employer’s final hiring decision must stand up to the scrutiny of others – including the firms’ own employees as well as the authorities. Hiring based on transparent and objective selection criteria is good for business as it fosters a sense of fair play at the workplace. Two, implement dependency ratio or quota for Employment Passes, with differentiated ceilings and salary levels for different sectors. This will certainly galvanise the necessary action on the part of employers to reduce reliance on foreigners. Three, ensure capabilities and skills transfer to local employees. For selected sectors, there may be a need to require employers to systematically develop succession plans and capability transfers to locals and have these linked to EP approvals. Sectors with high concentrations of foreigners should then have their renewals of work passes be contingent on the firms meeting local succession and capability transfer KPIs. Four, hold senior management accountable – require the most senior executive to sign off on employment offers to EP holders, including a declaration that the firm has complied with the above-mentioned requirements.”
“Many Singaporeans believe that they are being passed over for jobs that they can do because foreigners come cheaper, without the employer having to pay for CPF contributions and deal with National Service obligations, or simply because employers prefer to bring their own friends and families from overseas to fill vacancies. The Government has announced a set of new measures to raise the bar on the hiring of Employment Pass holders. The focus so far has been on giving Singaporeans fair consideration. Whilst these represent steps in the right direction, I do not think the new measures go far enough. First, I would like to reiterate the call I have made repeatedly in past sittings, that Singaporeans should be given priority, and not just be fairly considered, for jobs they can do. In other words, between two equally qualified candidates, employers should be obliged – obliged – to pick the Singaporean over the foreigner. Such a “Singaporean first” employment policy is consistent with other Singapore Government policies where we accord significant benefits and priorities to citizens, whether it be housing, Primary school balloting, school fees or healthcare subsidies. We must move from a neutral position, where we are content with having employers give Singaporeans "fair consideration" to an assertive position where we expect employers to positively favour – and I repeat, positively favour – the hiring and developing of Singaporeans if they have the skills and experience. During my 20 years as an international banker, I have seen how various jurisdictions around the world enforce employment policies that promote the hiring of local talent even as they recognised the need to judiciously tap the international talent pool.”
“Mr Speaker, I rise in support of the Motion to thank our President for her Address. The Fourteenth Parliament is opening in exceptional times. Despite the injection of almost $100 billion into the economy, the pain and frustrations that our people and businesses are experiencing continue. The road to recovery will be harsh and bumpy. The President spoke about COVID-19 reshuffling the deck – revealing new threats alongside fresh opportunities. Sir, I would like to focus my speech on the new strategies Singapore must embrace on jobs and employment policies to cope in a different world, joining many Members who spoke before me. This must be the priority for this new term of Government. Sir, I have spoken on many previous occasions in this House on the need to review employment policies to ensure we build a strong Singaporean Core of talent and asked that Singaporeans be given opportunities for the best jobs. COVID-19 has exposed significant risks in Singapore’s over-dependence on foreign manpower. Now, more than ever, in an increasingly protectionist world, our employment policies must tilt towards giving priority to Singaporeans for jobs they can do, and put in place proactive development plans to nurture Singaporeans for the skills and experience they lack. I have met many middle income Singaporeans, working as PMEs, who do not feel secure in their jobs. They feel intense competition from the influx of foreign talent and describe incidents of unfair employment practices by employers who display a clear preference for foreigners. Why?”
“With the accelerated plan to build a strong pipeline of digital and technology skills locally as announced by Minister Iswaran yesterday, companies can also supplement the local talent pool with global expertise to scale the business by extending working from home beyond our national borders. So, extend that, work from home, but beyond the national borders. Singapore companies can tap AI, data analytics, cybersecurity resources from around the world to support Singapore's development work without these tech professionals having to relocate to Singapore. Our innovations in organising work and how work should be done, can fuel our ambition to be Global-Asia node of technology, innovation and enterprise. I urge the Emerging Stronger Task Force Committee to scrutinise these and other trends emerging from this COVID-19 pandemic, so that it may inform their recommendations to prepare Singaporeans for a post-COVID era. Winston Churchill is credited with first saying, "Never let a good crisis go to waste". Singapore has certainly invested a good deal in this crisis, it is time to learn the lessons, turn challenges into opportunities and reap the rewards for a stronger, brighter tomorrow. I support the Budget. 12.12 pm”
“However, our response to the pandemic shone a light on the meaningful work that healthcare professionals do and held them up as the heroes that they have always been. School children wrote "thank you" notes, Prime Ministers called them out and people clapped from their balconies the world over, out of gratitude for their sacrifice. The large number of temporary positions made available to deal with COVID-19 has also provided a window of opportunity for people to try their hand at this work. I must say I am so encouraged to witnessed an emerging interest amongst young people in joining the healthcare industry and shifting attitudes towards the care-giving profession. Sir, we should seize upon this window of opportunity to accelerate this trend and attract more Singaporeans to join the healthcare profession that offers great long-term career prospects. Lastly, COVID-19 has taught us that large-scale remote working is indeed possible. With the help of technology, employers are quickly equipping their workers with the tools they need to work from home. I myself have been surprised at how much more productive I have been, working away from the office. Facebook has begun planning for workers to work permanently from home, whilst Google has extended its work-from-home policy for the remainder of 2020. With working remotely accepted as the new normal, we should leverage this opportunity to supercharge Singapore's growth in the Infocomm Technology sector (ICT). Many tech firms complain that they have not been able to scale their business in Singapore given our limited talent pool.”
“Instead, it should encourage individuals to leverage this safety net in order to position themselves for the longer term, by critically assessing their operating environment, learn new skills, try new jobs and seize on the many schemes available to ensure that they remain relevant. The formation of National Jobs Council as well as the Emerging Stronger Task Force are great initiatives for developing strategies to pivot ourselves to the new jobs landscape. I am also impressed with the speed by which job initiatives are being rolled out – these include the 11,000 traineeships by 1,000 organisations who have come on board so far, so quite impressive. Our ability to coordinate, navigate and implement Whole-of-Government initiatives is truly the competitive advantage that Singapore must play to. Amidst the doom and gloom, it is reassuring to learn that Singapore has secured $13 billion of investment commitments in just four months of this year – amongst the highest in recent years. This is a testament of the confidence that investors and businesses have in Singapore and the hard work that MTI continues to put into selling "Singapore Inc". Indeed, as social, political and geopolitical instability continue to play out elsewhere in the world, Singapore is well positioned as the much-sought-after safe harbor for business, talent, intellectual property and investments. Sir, COVID-19 has changed many long-held beliefs and opened up new perspectives. I think many of us believed that Singaporeans were not attracted to care-giving jobs, so we were always going to be heavily reliant on foreign nurses and care-giving professionals.”
“Recent research at Oxford found that those earning under GBP20,000 are less able to perform work remotely, earn a smaller proportion of their previous salary and are twice as likely to lose their jobs compared to those earning GBP40,000 or more. We can draw similar parallels here in Singapore. It has been far easier for those employed by large companies and highly skilled sectors to work remotely, than for those employed by SMEs or in the retail and F&B sectors, as well as those engaged in low-paying contract work. So, we must find ways to buffer the hardship faced by these families. We should be prepared to support them with some basic level of income beyond the current provision of COVID-19 Support Grant, should their unemployment persist. Mr Deputy Speaker, Sir, I support Deputy Prime Minister's call to think urgently about how Singapore can emerge stronger. We must prepare our workforce immediately for a post-COVID-19 environment, to adapt quickly to structural changes in the economy, changed consumer habits and new ways in which countries will compete and co-operate with one another. I also applaud Deputy Prime Minister for his bold move to launch the SGUnited Jobs and Skills Package, creating 100,000 opportunities in jobs, traineeships and skills training to mitigate risks associated with unemployment. The Deputy Prime Minister has promised to "protect every worker even if we cannot protect every job". But this commitment to protect every worker should not create a false sense of security or complacency.”