Kwek Hian Chuan Henry
Singapore
“Deputy Speaker, Sir, I thank the Minister of State for this comprehensive response. I would like to check whether MND is open to providing more funding to AVS. Ten years ago, I made a speech on NParks, and I noted then that NParks' annual budget is less than half of that of an acute care hospital.”
“Chairman, I have three short clarifications. Given that condominium prices and wages have risen over time, can MND share a timeframe or timeline when the income ceiling review will be concluded? Is it in a matter of months, or is it when some threshold conditions are met?”
“Chairman, I thank MND for responding to our cuts and I seek leave to withdraw my amendments. [(proc text) Amendment, by leave, withdrawn. (proc text)] [(proc text) The sum of $8,640,058,800 for Head T ordered to stand part of the Main Estimates.”
“Our Public Service Media companies are our national assets. I hope MDDI can share how it plans to secure our future. I notice I have 18 more seconds, so I want to add in a final point. I noted we are asking MDDI to do a lot of cybersecurity, national Public Service Media on IT services and AI development.”
“As the Bill empowers OSC to identify users and disclose that information to purported victims, what safeguards are there to prevent misuse of that disclosed data for reverse doxxing? In closing, Speaker, Sir, this Bill makes our online space safer, especially for our youths.”
“Mr Speaker, I support this Bill and the suite of changes it makes. Given its breadth, I will focus my remarks on three areas: one, tackling global scams and online crimes while protecting innovation; two, a calibrated approach to accountability for 14-to-17-year-olds; and three, improving proportionality by resolving the inflexibility of…”
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“At the same time, there is also widespread trust in developing Asia and the Middle East in the Singapore brand with regard to food. In fact, Singapore has one of the highest standards in Asia outside Japan. Why do I say that? Three reasons: one, in selected areas, such as fresh vegetables, processed food, poultry, Singapore has gone beyond certifying food that comes to Singapore. Singapore is even sending officers overseas to accredit the food supply chain across the world for these key areas. Second, Singapore has adopted food standards similar to those of the EU. Third, we already certify food outside Singapore. A little-known fact is that China's Jilin province is collaborating with Singapore through the Jilin-Singapore Food Industry Park. Therefore, the Singapore Government has set up, I was told, a certification arm in Jilin. Over time, I was told, this certification arm will stamp the "Approved by Singapore" mark on those products, and these products will be eligible for import to Singapore. Therefore, there are ample opportunities for Singapore-based companies to offer "trust audit” services in food which can include advisory service, certification services and assurance services which include regular internal or external audit, and, lastly, forensic service. How can we create these trust audit opportunities? Let me go into some details. SFA can work hand in glove with the Singapore Food Manufacturing Association and our professional services industries so as to embed trust audit into the Food Service Industry Transformation Map. SFA can also drive industry-wide research, set the relevant standards, recommend legislation, create the relevant ecosystem and identify training requirements.”
“Mr Speaker, Sir, I rise in support of the Bill. The creation of SFA under MEWR is the right move and will enhance our ability to keep our food supply safe. I also note our success thus far to keep swine flu out of our food supply. The creation of SFA also offers economic opportunities for our food manufacturing and supply industry. Let me outline these opportunities today. First, let me start with trust. There is a trust deficit in food, especially in developing Asia. Most Asian customers do not fully trust the industry. In fact, where there are many international standards for food, both at a general and industry level, these standards are usually: one, not well understood by customers; two, too narrowly defined. For example, the important Good Manufacturing Process standard does not provide end-to-end assurance of food products; and three, not well enforced. Many companies work hard to get a certification but fail to keep up with these standards subsequently. As Asia grows, consumers, especially those within developing Asia, desires high-quality food, such as milk powder that are free from contamination. There are also well-to-do consumers who also want organic food, food produced using fair trade principles and food produced without adversely impacting the environment. Leading food manufacturing companies tried to position themselves as such. But there is widespread consumer distrust, such as in areas of food labelling, source of raw materials, and whether the products are genuine. Because of this, management consulting and auditing firms, such as PricewaterhouseCoopers in Singapore, has started exploring "trust audit" for selected food manufacturing and supply companies in Asia, including for large Chinese State Own Enterprises.”
“Mr Deputy Speaker, I stand in support of the amendment Bill. I would like to declare my interest as the advisor to the Federation of Merchant Associations (FMA), which represents many small and medium enterprises (SMEs) and micro-SMEs within our Housing and Development Board (HDB) heartlands. The issue of GST for online commerce is a major one, and the international debate in western countries has been going on for more than a decade. Originally, exemption was given by many governments because of the difficulty of enforcement, as well as the desire to promote online commerce. However, online commerce has taken off in a way in many countries, including Singapore. Now the pendulum has swung to the other side, which is that the major online commerce companies are threatening the survival of many brick-and-mortar businesses. Mr Deputy Speaker, I am not suggesting that we ignore the advance of technology. Online commerce is here to stay, and brick and mortar businesses have no choice but to adapt. Our SMEs, especially the micro-SMEs in our HDB heartland, are facing tremendous challenges these few years. Their existence, or not, will impact the fabric of our society. Having said all that, the SMEs I speak to know that they must adapt. What I heard from some SMEs is the desire for a level playing field, including on the issue of tax. I understand that today we are amending the GST to include online services for taxation purposes. Can MOF comment on the global tax trends in both taxation of online service as well as online commerce of physical goods so that we can have a more informed debate? Notwithstanding my queries, I support the amendment Bill.”
“So, will the cost of the legal aid that is being provided be considered in the discretionary framework? Notwithstanding my queries, I support the amendment Bill.”
“Mr Deputy Speaker, I stand in support of the amendment Bill. I would like MinLaw to clarify about four points. First, clause 3A states empowering the Director of Legal Aid to appoint "suitable and experienced" public officers who are not qualified persons under the Legal Professional Act. Can I understand more about how Legal Aid will determine what kind of processes or cases will merit public officers rather than qualified persons? And will it compromise the interest of the aided person in representing his case? Second, clause 5. I note that legal aid is provided to both Singaporeans and PRs. Are all PRs given the same rights as Singapore Citizens with regard to legal aid? Or is there another set of tighter criteria necessary for PRs to qualify, such as closer ties to Singaporeans? Third, clause 7(a) allows the Director to exercise this new power instead of a board. Can MinLaw share the rationale of this change? How can we balance achieving this potential increased efficiency with the downside of having the Director being a bottleneck or a single point of failure? Last of all, can MinLaw share about how LAB assesses financial criteria on who to help, especially on the grounds of discretion? For example, there are some families with higher income than the threshold, but the family relationship may have been strained and money is not allowed, or the family have significant medical expenses or debts. Another point we could look at is the cost of the legal aid to be provided. I mean, say, for example, the sandwich class. They are two different matters. One is to get LAB to handle something that costs thousands of dollars of legal fees. It is another thing to ask the sandwich class to take on a very serious lawsuit which can go on to tens of thousands of dollars.”
“For example, in our medical bills, we reflect the true cost, and then we reflect the subsidies, before arriving at the amount that Singaporeans have to pay. That is a good approach to keeping Singaporeans informed. As such, from time to time, through various channels, including on the MRT station platforms and trains, we should communicate to our people the true cost of our MRT networks per trip. This cost should include components, such as infrastructure investment cost as well as total operating cost. This is important information for our citizens and, I suspect, will shape our discussions in our Chamber over time. I hope we cannot just talk about satisfaction levels, but also whether or not, like the previous Member said, are we overconsuming or under-consuming transportation resources. My final point is a technical one. In clause 6(a), can I check how LTA will ensure that the expenses are charged accurately in the RSF and/or RIF since "demolition and replacement" expenses could be for both funds? I assume that the Sinking Fund is for existing lines and the Infrastructure Fund is for new lines. Demolition and replacement expenses of any rail line is likely to be a major expenditure. When will LTA charge these under the Sinking Fund and when will it do so under the Infrastructure Fund? Notwithstanding my few queries, I support the amendment Bill.”
“Mr Deputy Speaker, the amendments in the LTA Bill will strengthen the governance surrounding investments and maintenance of our rail lines. Therefore, I rise in support of the Bill. Before I start, on behalf of my residents who use the North-South (N-S) Line, I would like to thank MOT, our MRT workers, as well as those involved with the N-S Line upgrade for their countless hours of hard work. After the completion of the resignalling project, the reliability of the line has improved. So, thank you. I would like to raise three points today. First, can LTA share how we determine on the lifespan of the key assets and system? If we draw on the lessons over the last decade or so, the key issue is how do we ensure timely upgrades, as well as preventive maintenance. Does LTA determine this lifespan through international benchmarks or through LTA's internal assessment working with engineering consultancy companies? If LTA relies on international benchmarks, can LTA share which country and which system did we use? And when we localise those benchmarks for use locally, do we account for Singapore-specific conditions, such as our heat and humidity levels? Secondly, I would like to request that LTA communicate to our people the true cost of the MRT system per trip. With that, I strongly agree with the previous Member's view that our people will need to understand, not just the quality of service, but how much it costs them. In the long run, our spending depends on our citizens' needs and expectations. So, our citizens need to know the true cost of service provision, even though we continue to ensure that fares, after subsidies, remain affordable to the broader public.”
“I thank the Minister for his comprehensive answer. In the Report, I do not sense that the weather was a factor for this heat injury. But in the face of global warming – and the last few months have been very, very intense weather – I am just curious: are commanders given the discretion to, in extreme weather conditions, extreme heat waves, pare down the training, or is there a Standard Operating Procedure (SOP) to allow them to have flexibility, not during normal times, but extreme heat situations?”
“MOE is already doing a lot, but there could be scope for more. Today, MOE already encourages our students to do values-in-action programmes and this has, in my view, brought out altruism in our youths today which I am very proud of. I am for suggesting that MOE can provide bonus points to encourage collaborations between different schools. For example, at the cluster level, MOE cluster leaders can actively foster collaboration between elite and other schools, so as to give students from different educational backgrounds a chance to forge friendship from a young age. MOE can also strengthen the collaboration with the Ministry of Culture, Community and Youth (MCCY)'s ActiveSG to encourage social mixing through sports. Today, MCCY is already encouraging students to interact with their peers doing sports outside of their school. Where we can improve is this: MOE and MCCY can collaborate by growing ActiveSG's Sports Academy and Clubs to absorb even more students from all schools and give them co-curricular activity (CCA) under the Leadership Engagement and Development (LEAD) framework. At the same time, MOE can also invite Sports Academy to send teams to join various inter-school sports teams. These are just two ideas where MOE can encourage our youth to come together to bridge the social divides. When our youth willingly come together to socialise, they will treasure the bonds that they built. To sum up what I have suggested, education is not preparing students for examinations. It is preparing them for life. By strengthening the teaching of independent and critical thinking, up-to-date practical skills and social skills, we can further achieve our aim. With that, Mr Speaker, I support the Motion. 5.10 pm”
“One way we can do so is to examine what is being done in Hong Kong. I am not advocating for our examination board to be privatised like in Hong Kong. Rather, I am suggesting we take a look at how Hong Kong's examination board works with the private sector to accredit certain members of the relevant industries to evaluate students. For example, students learning auto repair would be evaluated by specially accredited actual mechanics, operating in real workshops, rather than in mock-up classrooms. I do understand this is a departure from the current way we evaluate, but I hope that we can at least explore incorporating elements of this approach even for our "N", "O" and "A" levels. Related to this is to encourage more industry practitioners to join in as teachers or as part-time teachers for applied subjects. Today, I believe that we have a lot of capable industry practitioners who are teaching and lecturing at universities and they find it a privilege to do so. Perhaps we could also confer the same amount of prestige and encouragement to encourage more of these industry practitioners, very excellent industry practitioners, to do so in ITE and polytechnics as well. Working with the industry to be accredited examiners, bringing more industry practitioners to be teachers, these two will help our students learn current content for applied subjects and help us transit towards a model that is closer to Germany's apprenticeship model. Let me speak about the next topic, which is forging friendship across social divides. Even though our social divide is nowhere as serious as in many other countries, there is always scope for us to do better. Singaporeans expect us to try our best. One powerful lever is our education system.”
“Besides focusing on marking, they can also work closely and strengthen MOE's curriculum development team. And because this team is based in Singapore rather than in Cambridge, they will have ample time to communicate with full clarity with all our Singapore-based teachers. The benefits are clear. Because our teachers will have minimal uncertainty on how the markers will grade the subjects, our curriculum developers will have more opportunities to: one, promote independent thinking; and, two, shorten the curriculum review cycle. At the same time, it will ensure a clear divide between the professional markers and the teachers, so that the markings can continue to be fair and equitable. Next, I would like to talk about applied subjects. I am very heartened by the recent moves to teach applied subjects, such as computing, mobile robotics, sports science and retail operations at the "N", "O" and "A" levels. This is a good move that can prepare our students for the future and I believe we can build on this. We can do so in two ways: one, by ensuring our students are taught the most current curriculum; and, two, by ensuring our students are being evaluated by accredited examiners with directly relevant industry experience. Currently, even for applied subjects, I was told that the curriculum is set two to three years before the actual year of assessment and the curriculum will last for four to six years before review. As we know, in some applied subjects, changes in technology happen quickly and a six-to-eight year curriculum cycle could be too long. Of course, one can argue that at the "N", "O" and "A" levels, our students can focus on the foundational knowledge for applied courses. Nevertheless, there could be scope for us to do better.”
“There is only a way to think rationally and look at the big picture. If we do not teach this, we are doing a disservice to our students and are holding them back beyond their school years. Why then are some teachers still focused on encouraging students to regurgitate answers, rather than to think critically and independently? One contributing factor could be the way in which our humanities are being marked at the "O", "N" and "A" levels. Currently, overseas educators from Cambridge mark our examination papers. They then provide annual feedback to MOE on how our students fare. In addition, every few years, the Cambridge chief markers will come down to Singapore to provide in-depth feedback to selected Singapore teachers under the "train-the-trainer" approach. These Singapore teachers then relay the gist of what they have learnt from the Cambridge markers to the rest of the teachers. However, because information is sometimes lost in the transmission process, some of the Singapore humanities teachers might not get a uniform picture of how Cambridge evaluates our students. And some of these teachers, operating without the fullest clarity and, I must stress, out of the best intention for their students, fall back on encouraging pattern recognition and regurgitation of pre-determined answers. If this is a possible issue, then a possible solution must be to try to provide as much clarity as possible to our teachers. One way of doing so is to build up a team of Singapore-based professional markers for humanities subjects, even as we continue to work with Cambridge as our examination partner. These professional markers can be former teachers. But I hope that once they become markers, they should not be allowed to go back to become teachers or part-time tutors.”
“Mr Speaker, Sir, I rise in support of the Motion. By most measures, we have an excellent education system and our system has kept up with the times and our nation's needs. To meet tomorrow's needs, I would like to propose fine-tuning the way we evaluate our students. Doing so will strengthen the critical thinking and the relevance of what our students learn in the humanities and applied subjects, at the "N", "O" and "A" levels. At the same time, I would like to speak about encouraging better social mixing between students from different schools so that we can shape a better future for Singapore. In any education system, the evaluation system – or examinations – is the critical link between what should be taught verses what ends up being taught. An examination is where the rubber hits the road. The best intention of any curriculum developer can only be translated to effective learning if the examinations are properly designed and evaluated correctly by somebody appropriately trained. Today, our current systems work very well for mathematics and science subjects, because these subjects are objective and theoretical. Nevertheless, there is scope for fine-tuning in two areas: one, fine-tune how we evaluate humanities subjects; and, two, accredit the industries to evaluate applied subjects. From time to time, we sometimes hear that we can do more to promote critical thinking when our students learn humanities. Some humanities teachers, I was told, teach the students to recognise patterns and regurgitate pre-determined answers. Why is critical thinking important? Well, the humanities study the human condition, society and culture. Or, in short, life. Just like in life, there is no right or wrong answer in the humanities.”
“Mr Speaker, Sir, I thank the Minister for her comprehensive answer. I have two supplementary questions. Can the Minister share: (a) whether the planned GST increase is linked to past investment losses, such as UBS, Barclays and Merrill Lynch; and (b) can we expect GIC and Temasek to sustain these levels of performance and returns, going forward?”
“Perhaps, the Committee can take the lead to explore the default LPA issue very carefully in consultation with the lawyers, the legal community and the people sector, so that we can have at least one additional option to minimise the number of vulnerable adults. But, of course, the first logical no-regrets move we should do is to push for the mass adoption of voluntary LPAs. To conclude, I warmly welcome and support the amendments. With stronger laws in place, I hope we can improve how we care for our vulnerable seniors. Moving forward, I also hope we can focus on the urgent task of minimising the number of vulnerable seniors, and one good way is to get all Singaporeans to write up their LPAs.”
“I am sure a big push will increase the LPA numbers and we must monitor the adoption very carefully. However, if the situation does not improve within a few years, I hope we can consider even more decisive steps. One is to make LPA mandatory. The other way is to revise our Mental Capacity Act to include a "default LPA". By "default LPA", it means having the law to automatically determine the right person to take charge, in the absence of an LPA made voluntarily. Talking to my team of lawyers and community leaders, the tricky part of the default LPA option is how the law should determine the donees. The most obvious way the law can determine the donee is to use the succession rules from the Inter-Succession Act. But even if we go down that path, we need to consider whether the default donee should be an individual, or a group of natural heirs with collective responsibilities. And if there are collective responsibilities, how should responsibilities be divided up, and how do we reconcile the difference in views and motivations among the natural heirs in the process? So, this is quite tricky. If we go down the path of default LPAs, it would also be good for us to clarify the powers of donees with regard to utilising the assets of the donors. This could include clear guidelines on what constitutes reasonable cost for medical and long-term care of the donors and caregiving of the donor's direct dependants. I understand that Minister Desmond Lee has set up the Committee to Review and Enhance Reforms in the Family Justice System (RERF) recently to review family law issues.”
“We believe a major LPA adoption drive is necessary and would like to propose three steps. One, integrate the LPA into relevant Government processes. This will give many Singaporeans the chance to think through this issue and make a decision and draw up their LPAs. For example, the Immigration and Checkpoints Authority (ICA) can insert the LPA process automatically within the 55-year-old identity card re-registration process as well as passport renewal for Singaporeans over 45 years old. The Housing and Development Board (HDB) can insert the LPA process within all deed transfers and name insertions for people above 55. MOH can get hospitals to advise moderate to high-risk and senior patients to get LPAs and offer that process in major hospitals. Two, we can minimise the cost of LPAs. The current cost is not costly, but to get mass adoption of LPAs by seniors and retirees, we can try to bring down the cost even more. MSF can extend the waiver of LPA application cost. At pre-selected Government offices issuing large numbers of LPA certifications, we can include an onsite team of certifiers, that is, lawyers, doctors and psychiatrists. And the benefit of this is that we can then offer out bulk-contracts for these certification services to further reduce the cost from lawyers, doctors and psychiatrists. Another option is for us to train civil servants who know about these issues to act as certifiers at key locations. Our third point is that we need to communicate extensively. We can explain about LPAs through videos in different languages. These videos can be made and screened on television, within cinema and online. SGO can explain the importance of LPAs to seniors, and we can also communicate the importance through various community health screenings.”
“In addition, when other SGAs chance upon any vulnerable adults or children in their outreach session, they can also include that information into the registry. SGO’s involvement will go very far to help us in the know about every vulnerable adult or children in Singapore and, in doing so, can potentially forestall some of the tragedies involving vulnerable adults later on. Next, I will speak about getting Singaporeans to do up their LPAs. With our ageing population, there will many more adults who, through illnesses or accidents over their lives, grow dependent on their family and friends. If these adults get mentally incapacitated, their caregivers could have difficulties mobilising enough resources to help them. Without a strong support network, some of these mentally incapacitated Singaporeans will become vulnerable adults. We should tackle the problem upstream, by encouraging all Singaporeans to create LPAs, which identify and authorise a "donee" to act on his/her behalf, including on financial matters, when he/she is mentally incapacitated. Should no LPA exist after mental incapacity sets in, there are still options to deal with it, but it gets complicated. Family members and friends can apply to be Court-appointed deputies, which is time-consuming and costly. MSF's new Community Kinship Service pilot can get social workers to be Court-appointed deputies and, therefore, take charge. But most of us here in this Chamber would agree that MSF's limited resources should focus on only the most pressing of cases. Therefore, to minimise the number of vulnerable adults ahead of the coming Silver Tsunami, LPAs play a major part. I have assembled a team of lawyers and community leaders to think about this issue.”
“Mr Deputy Speaker, I rise in support of the amendment. I would also like to put on record my thanks to the MSF officers who work very hard to not just care for the needy, but also proactively consult VWOs as we change the law. Members from the VWO sector whom I spoke to are supportive of this amendment. It strengthens how we protect our seniors, especially during a crisis. I especially appreciated the part about protecting whistleblowers because we do need our community to come in and tell the state when people most need help. Today, I would like to propose two things: how we can better stay in touch with vulnerable adults prior to a crisis which requires intervention; and how we can minimise the number of vulnerable adults through the Lasting Power of Attorneys (LPAs), by getting as many Singaporeans as possible to predetermine their caregiving arrangements in the event of a mental incapacitation. Let me touch on the first point. A collaboration between MSF and Silver Generation Office (SGO) can go far for us to stay in touch with vulnerable adults regularly. I understand that the Government has a database called the Developmental Disability Registry (DDR) to track our vulnerable adults and children. This database likely contains a large percentage of them. But it is possible that some of them are not captured in the database. To improve on this matter, during regular SGO’s outreach to seniors, a small group of vetted and well-trained Silver Generation Ambassadors (SGAs) can be assigned to visit the vulnerable adults already in the registry. These SGAs can refer them to social workers, if necessary, and also update the registry.”
“These are expensive and time-consuming processes. Can we get various agencies to redesign their approval processes, identify conflicting or overlapping requirements and create a common and current depository of regulations for all? This means the entire sector can efficiently transact with the Government through that single national window for most key processes. And if we can come up with a "National Single Window" digital platform for the construction sector, another obvious choice is the lifestyle cluster, which frequently has to deal with various agencies on F&B, zoning and Police permits. To conclude, our debate on the President's Address gives us the opportunity to cast our eyes to a further horizon. I share many of the priorities that the Government has highlighted. In particular, I believe there are exciting opportunities to use data and digital transformation to drive the economy and also believe that there are some policy adjustments that we can do more of to fight inequality and bridge social divides. Most importantly, if we can infuse SG Cares into the Singapore soul, inspire our people to build a better Singapore, we will all be happy and happier for it because people value what they build and because labour builds love. 5.58 pm”
“Singapore companies are also coming together to build the Fast Track Trade Platform (FTTP). This SME trade platform is a block-chain powered digital e-commerce marketplace, with many added financing and insurance services built on it. In turn, these three projects can open up new possibilities for Singapore, especially if we can integrate them into a national e-business platform. Can we allow our banks and financing companies to tap on these trade and transaction data, so that they can determine more efficient ways to provide finances and issuing credits to our companies? Can we connect up the supply chain of players of various industries to identify real-time opportunities? For example, during low-demand periods, can three-party logistics (3PLs) and warehousing companies tie up with PSA or CAAS to offer discounted services, so that we can encourage more ships and freight planes to stop by Singapore? Can we integrate this platform to our digital security efforts, so that our emerging digital service providers can work with next-generation technology? Lastly, is there scope for us to extend relevant and non-competing aspects of our national e-business platform to the rest of ASEAN because ASEAN can be a single economic ecosystem, with Singapore at the heart of it? Beyond this, digital technology can also help us drive our Government's productivity, which has an impact on business productivity. The National Trade Platform can be described as a "National Single Window" for trade for all companies. Can we build other "national single windows" digital platforms for other industry clusters? For example, developers, builders and architectures within the construction sector have to work with various agencies to get the permits and approvals.”
“Today, a former inmate with no prior convictions and who is jailed for no more than three months or fined no more than $2,000, can apply for the criminal record to be spent after a five-year crime-free period. Perhaps, MHA can review and propose a wider scope of criminal records that can be spent over time, if former inmates go through voluntary community rehabilitation. These former inmates can volunteer for five years at VWOs that are IPCs. A national panel can review their volunteer efforts and recommend to MHA on whether their criminal records deserve to be spent. Lastly, we can provide a better rental housing environment for our needy while they battle to improve their lives. For example, we can factor in household size as a major criterion to rental flat size. For singles who are working hard and cooperating with the social workers, we can consider waiving the joint-single requirement if no suitable room-mates can be found. Let me now talk about the economy, about unleashing data and digital transformation to drive our economy. There are many exciting possibilities if we can overlap our data and digital capabilities with Singapore's physical and financial connectivity. Let me first share three examples of recent success. We have built our new National Trade Platform (NTP), which serves as our "national single window" for trade. We are also connecting our NTP to Japan, to China through the Chongqing Connectivity Initiative (CCI), as well as to Hong Kong through the Global Trade Connectivity Network (GTCN). As a result, physical trade documentation is minimised. Default and transaction risk in trade financing is reduced. Through the Project Ubin trials, MAS is using distributed ledger technology to circumvent slow and expensive bank-to-bank transfers technology.”
“For example, we can grow ActiveSG's Sports Academy and Clubs to absorb more youths from different schools and give them CCA points under the LEAD framework. At the same time, MOE can also invite Sports Academy and Clubs to send teams to join inter-school sports competitions. And, in general, ActiveSG also brings people together through regular sports competitions and activities. There is more we can do to encourage them to extend their camaraderie beyond the soccer field or badminton hall. And when Singaporeans willingly come together to socialise, they will treasure the bonds they build. To the third set of ideas: supporting our needy to break out of the poverty cycle through some policy enhancements. First of all, we can do more to promote financial literacy and prudence of our needy. There are many VWOs who are willing to go to the schools, army camps, the community, or even the prisons to teach financial literacy. We should open the doors to them. MAS and MTI can also do more. MAS can mandate businesses to present interest rates to consumers in a unified manner. MAS can also mandate a simplified template for presenting mass-market financial product information. MTI can tighten the hire-purchase regulations to clean up unfair practices and charges that some of our needy get entangled with. These will benefit all Singaporeans, but especially the needy. Second, we can consider reviewing our Registration of Criminals Act, to temper justice with mercy, to rehabilitate and to re-integrate. We all know that a prison conviction can have a tremendous impact on a person's ability to get hired. That, in turn, creates financial hardship for the family and contributes to poverty and inequality.”
“For example, in my constituency, Kebun Baru, thanks to the strong support from Mayor Teo Ho Pin of Northwest CDC, we are implementing two priority long-term programmes for social work: to build up the best community support for cancer patients and survivors, and to build a dementia-friendly community. We are also exploring getting technical assistance from SG Cares. At the same time, I am advocating that over the next two years, we can consider piloting the SG Cares/CDC/grassroots collaboration for a quarter of all Singapore. And from 2020 onwards, we roll out this collaboration nation-wide. At the same time, I also hope that SG Cares can mobilise our people to help pockets of Singaporeans that are usually unseen, such as children and youths at our various homes and the young offenders serving time. Over time, I hope that SG Care can make volunteerism a defining characteristic of being Singaporean. SG Cares can transform the Singapore psyche and turn Singapore into a Democracy of Deeds. Let me next speak on encouraging Singaporeans to forge friendships across social divides. Today, MOE encourages students to do VIA programmes. We can use this platform to incentivise youths to do more social mixing. Specifically, MOE can provide bonus VIA points to encourage collaborations between different schools. At the cluster level, the MOE school leaders can work hard to nurture collaboration between elite and non-elite schools, so that students from different educational backgrounds can forge friendship from a young age. MCCY and MOE can also create a parallel track for youth sports, so as to encourage social mixing outside the schools.”
“We also realise that our own success is not just a result of our hard work and talen,; but also of circumstances and the help of others along the way. At the same time, the needy among us get lifted up, not just because of the material assistance that they received, but also because of the wisdom and life-skills, because they felt the warmth and solidarity of fellow Singaporeans and because they learnt that those with less also have something to give. Most importantly, whether we are the better-off or the needy, we all appreciate society with its imperfections, because we all know that, on that day, we made society just a little bit better. With that in mind, I would like to propose three sets of policies that can fight inequality and bridge social divides. First of all, by making SG Cares a centerpiece of Singapore. We can make volunteerism a defining aspect of what it means to be Singaporean. SG Cares encourages individuals, companies, schools – to work together to build a more inclusive Singapore. SG Cares is already piloted in two towns. I believe we can do more. Over the next five years, I hope we can extend and connect SG Cares with our five Community Development Councils (CDCs), as well as with the grassroots across Singapore. How do the pieces fall together? SG Cares provides the technology, combines the needs of various communities and serves as the bridge to major companies and institutions. The CDCs provide support for various causes. Some CDCs, such as Northwest CDC, also have good social work programmes and can mobilise people to do good. With the data, technology and added volunteers from SG Cares, as well as project management and funding from the CDCs, the grassroots can be an effective last-mile coordinator of assistance to the needy.”
“Mr Deputy Speaker, I rise in support of the Motion. There has been much discussion about fighting inequality and blurring emerging social divides. It boils down to different perspectives. Is the glass half empty or half full? We have a functioning meritocracy with various pathways of success. But our needy sometimes face structural issues. We have healthy social mixing. But there are areas of rising concerns. Rather than arguing about whether the glass is half empty or half full, can we get everyone to join in to fill up this half empty and half full glass called Singapore? How can we achieve this? The answer, I believe, is what psychologists have termed as the "Ikea effect". Simply put, the "Ikea effect" says that we cherish what we build. Many of us have struggled with self-assembled furniture. The instructions often look easy: insert a screw here and turn an Allen key there. But the results are usually far from perfect and certainty not what we see in the showroom. Yet, despite the imperfections, we are intensely attached to our self-built furniture, far beyond their useful years. At home, I still own a few Ikea stools that I built during my university days. They made it through eight house moves and I lugged them through half the world. This is the "Ikea effect": we cherish things that we build and labour leads to love. Therefore, when we get Singaporeans to come together to build a better society, we value not just the shiny successes, but also the imperfections, the work in progress. I often see this happening on the ground when we come together to do some meaningful social work. After a successful project, the better-off among us appreciate the challenges and inequalities that less fortunate Singaporeans face.”
“The need to articulate these broad principles was originally a concern for me, and I wanted to flag them out in my speech today. I am glad that the Minister has provided a clear explanation of these broad principles. Next, I would like to touch on the issue of limiting communications in the event of a terrorist incident. It makes sense not to have information posted online through public or open channels, be it social media or mainstream media. And I appreciate the Second Minister for Home Affairs for clarifying that the victims of terrorist attacks are not prohibited on sending information to security agencies of their situation. But I would like the Minister to clarify whether sharing with friends and families on closed networks is also forbidden, perhaps not video, but text messages indicating that there is an attack and please stay away. During a crisis, we all want to make sure that our immediate loved ones are safe and stay out of any possible danger zones. So, a flurry of messages within closed networks can be expected. Some would also argue that if this information does not spill over to the public networks, or to the social media, the risk of the terrorist getting wind of getting useful information is also quite limited. Lastly, I hope the Government can invest in more efforts to share this aspect of the law with our people. Perhaps, we can remind people at the onset of any serious terrorist incident that such a law is in place and the communication limitation is also in place. And this is because, while a limitation of communications is necessary, this provision goes against the initial instinct that many people have to share such information with their loved ones in times of crises. With that, I support the Bill.”
“Mr Speaker, I rise in support of the Bill. It is important to note that this is not the first time the law enforcement agencies have been given special powers to deal with security issues. POPA was enacted in 1958 to provide the Police with the special powers to deal with large-scale communal riots which were the key threat to Singapore then. However, much of the powers in the Act are no longer adequate to deal with today's threats. The threat of terrorism comes in multiple and complex ways, which require swift and decisive action from our law enforcement and security agencies. Therefore, it is necessary for our agencies to be equipped with the necessary powers to deal with the changing threats. As such, I support the Bill that is designed to protect our safety and security. I would like to speak on a few issues. First, to justify the broad measures, I am glad the Minister has given several examples on recent terrorist attacks, highlighting why the current laws are inadequate to deal with these and that is why a broad-based measure like this is necessary. My next point is that when the broad-based law is in place, sound and reasonable judgement by our law enforcement officers is needed. And this judgement, within any enforcement agency, is enforced through the guidelines. I recognise that it may not serve our interest to publish internal guidelines which could be potentially exploited by terrorists. Nevertheless, I am heartened that the Government has articulated the broad principles that govern these internal guidelines, especially on the application of lethal force, the two-tier unlocking process of the powers in the law and the need by the Commissioner to unlock individual powers based on the needs.”
“But I have real concerns about the integrity and effectiveness of some of these carbon credit schemes and we have to watch very carefully how this evolves in real life. In comparison, I like the clear CP approach; it is clear and effective, and it can be easily rolled out, and the revenues can be directly applied to better our society. Sir, with that, I stand in support of the Bill.”
“Fourth, I hope that the Government can also communicate the carbon price design and necessary procedures early on, so that companies can invest early to be compliant. Fifth, I hope the Government can also share how it will impact the competitiveness of our industry, especially for, let us say, the petrochemicals industry. Given the fact that most of our petrochemicals industry's output are exported, and their competitors based in other countries may not need to price in their carbon emission, is there anything more we can do to mitigate their challenges overseas? Notwithstanding the concerns I have, I agree with the approach of embarking on carbon tax, rather than other alternatives, such as carbon trading. I would like to highlight my concern about the suitability of carbon trading in Singapore, should that be considered in the future. Carbon trading is ideal in countries where there are low-cost as well as high-cost ways of reducing emissions. Low-cost ways could include environmentally friendly forestry and farming practices. In this way, carbon trading encourages the society to do two things: one, to reduce carbon emission and, two, find a way for companies to negotiate among one another and to find the cheapest way to achieve the reduction. However, I would like to point out that for Singapore, our carbon emission companies are concentrated in, I believe, petrochemical, power-generation and manufacturing sectors. So, they are quite homogenous in their carbon emission approaches. We do not have forestry and farming industries. So, there is very little arbitrage opportunities for us from different industries. Therefore, there is limited upside for us. Of course, there is always the option of buying carbon credits from outside Singapore.”
“Mr Speaker, Sir, I rise in support of the Bill. The CP Bill is welcomed as a useful tool to help us meet our obligations under the Paris Agreement. With regard to the Bill, I would like to raise several points. First, it would be helpful if, at regular intervals, the Government can share the results of the carbon tax on lowering the energy consumption of residents of Singapore, which should exclude the manufacturers' energy consumption. This will allow us to know whether the carbon tax is effective in abating consumption, and whether there is a need to either finetune the tax amount or postpone a further increase. Second, I hope that the Government will consider mitigating the additional cost of living not just for the most vulnerable Singaporeans, which the Minister for Finance has announced, but also for our retirees and our sandwich class. Third, I hope the Government can bear in mind the potential cost increase in business. By that, I mean, beyond the carbon price itself, including the indirect costs. Can the Government share with us the likely indirect compliance and administrative cost that carbon-emitting industries will have to incur? Have we worked hard to ensure that the compliance and administrative costs are not too onerous? For example, will companies have to hire dedicated and specific resources to see through this, in addition to their core operation? Perhaps the Government or NCCS can also help beef up our companies' capabilities by providing some technical support or assistance in the short run, so that companies can develop their own capabilities to do compliance in a very cost-effective way.”
“Mr Speaker, Sir, I stand in support of the Bill. I welcome the new bicycle-sharing licensing system. Many of the provisions are much needed and timely. In particular, I strongly support the installation of proposed QR code for all public bicycle parking points. Having a clearly defined area to park will do much to manage the situation of indiscriminate parking. Having said that, I do hope that we can work with the companies to come up with sufficient parking points. This is especially in the case of the private estates. A key benefit of shared bicycles is the ability to solve the "last-mile problem" in transportation, and this is especially the case with private estates. As such, I hope that, especially within our private estates, we can aim for having parking areas near major bus stops, as well as parking areas between every few streets. We can allow the bike-sharing companies to propose such locations, given that they know their customer base well, and then have LTA review them to ensure a certain amount of universal coverage. Given that public behaviour is evolving, it is also important that we regularly review our regulations after the regulations are passed. I would like to ask the Government what other public consultation and feedback channels are available, so that we can take on the feedback to evolve our policies. I would also like to ask the Government when it is time we will do a review on this current situation.”
“Thank you, Deputy Speaker. Deputy Speaker, I stand in support of the Bill. Mergers and acquisitions are increasing in frequency. We must ensure that any corporate activity must keep the consumer in mind and not compromise consumer rights or positions. Take the speculation of a deal between Uber and Grab in Southeast Asia, for instance. Will it achieve a dominance that will crowd out other taxi companies? Will we see consumers ultimately lose out? Hence, our competition laws must be robust to ensure that corporate activities do not create anti-competitiveness or undermine our market fundamentals. As such, the Competition Bill will strengthen the CCS as a key guardian of our consumers' interest. I welcome the expanded scope of enforcement for CCS that this Bill allows. At the same time, the move to allow CCS to provide confidential and non-binding advice is also a positive step. At this juncture, I hope the Government can provide an update on the focus of CCS in the past few years. How many instances of corporate activities did it evaluate and how often did it act on these corporate activities? I would also like to further suggest that CCS keep a strong focus on looking at corporate activities in companies engaging in essential services and services that touch the lives of Singaporeans daily. This will ensure that corporate activities do not negatively impact Singaporeans' general cost of living. On a separate note, I hope the Government can consider setting up a committee that will look at profiteering, especially of essential services. The committee can also take on feedback and tip-offs from consumers. While the instance of profiteering may be few and far between in Singapore, the mere existence of such a committee will serve as a deterrence to unscrupulous merchants.”
“Chairman, during the Budget Debate, I spoke about getting our youths to think ASEAN. It is important for Singapore, especially our youths, to understand, network and integrate with other ASEAN countries, given ASEAN's rising economic force and as driver of global growth. It is more important than ever that our youths learn more about the region, instead of looking only at the traditional markets like the West and China. What are the Ministry's plans to strengthen cultural and people-to-people ties within ASEAN during Singapore's Chairmanship year? Does MCCY plan to use this opportunity as ASEAN Chair to help integrate our youths with the ASEAN community, and to get our youths to feel more to think ASEAN? How can we encourage our youths to further explore the opportunities available to them in ASEAN and to experience all the cultures and experiences that ASEAN neighbours can offer? I also hope for our youths also get the chance to see the economic dynamism and opportunities within ASEAN. Lastly, is there more that MCCY can do to work together with MTI and MOE, through a whole-of-Government approach, to shift our youths' mindset to think ASEAN?”
“Singaporeans pride ourselves on living in a fair and just meritocracy. However, some believe that a social divide is emerging both along race and class lines. Can the Government provide some broad overview of the trends? Can MCCY share what the Government is doing to bring our people together, so as to temper the emergence of social divide? Is there scope for us to strengthen our collaboration with VWOs to bring people together? Social Cohesion through ActiveSG MCCY and SportSG have been rolling out new academies and clubs consistently over the past two years. As such, can MCCY provide an update on their progress? What can Singaporeans look forward to in the year ahead? What else is MCCY doing to keep Singaporeans active? Beyond keeping Singaporeans active and healthy, sports can also bring Singaporeans together. Sports has the ability to turn strangers into friends. It is, indeed, as SportSG mentioned on its website, the real social network. I recently witnessed that potential when I toured the Woodlands Sports Complex, where many communities of sportspeople were created among residents. Families would come to the complex and participate in different sports. This is not just to bond residents, but also for the whole family to exercise together. By exercising together, they will then have the habit of going to the stadium every Friday and, therefore, maintaining an active regime. To sustain such good work, it is important for MCCY to invest in community organising staff in our sports complexes, and to build up networks of residents. Will MCCY consider expanding this programme to other sports complexes, including Yio Chu Kang Stadium, which is frequented by my residents?”
“Sir, in my recent Private Member's Motion on senior policy, I noted that MOH has embarked on arguably one of the fastest expansions in healthcare spending among developed countries. In a few short years, we have ramped up considerable infrastructure. However, effective healthcare, especially to meet our ageing population, requires a well-trained healthcare workforce. This proper training is especially important, given that we are also transforming the way we deliver healthcare services, from a hospital-centric to a people-centric model, and through an aggressive adoption of technology. As such, can MOH provide an update on our preparations to ensure that our healthcare workforce have both the necessary hard skills and soft skills to care for the aged? Lastly, I would like to note my appreciation for our healthcare workers – nurses, doctors and medical social workers – for their hard work and dedication. Pipeline of Doctors and Medical Faculties”
“Chairman, I understand our need to have more spending in the years ahead. However, before we ask for more tax dollars from our people, we have a responsibility to them to ensure that we have done our best to remain prudent and ensure value-for-money in Government expenses. Can the Government share on what internal systems and controls will help us achieve this? Can the Government also share concrete examples of how savings have been achieved? Having said that, it is important that in our drive for economy, we do not automatically go for the lowest bid in public tender, at the sacrifice of quality and long-term cost control, as per what fellow Member Dr Tan Wu Meng has just shared. It is also important that we do not pass the cost unnecessarily to the private sector and our people through unnecessary or over-complex regulations. Can the Government also share how we can best manage this important balance between economy and quality? Efficiency in Government Spending”
“Chairman, the Government is encouraging our workforce and students to focus on short-term skills-based courses, instead of longer-term broad programmes. This is the appropriate move. However, for some sectors, there is still considerable work needed to get the SkillsFuture and Continuing Education short-term skills-based courses up and running. This is because the industry in those sectors may need more time to determine on the industry's future requirements. As such, would the Government consider delaying the decision to cut funding for post-graduate programmes until the ecosystem of short-term skills-based courses is more mature in those sectors?”
“As such, can the Government also share more on specific initiatives, which are more input indicators rather than economic output indicators, that are designed to aid restructuring?”
“The recently released Annual Economic Survey showed improved economic performance in 2017. However, there was variation among sectors in performance and outlook. Can the Government provide a broad overview of how the various industries are doing in terms of performance and outlook? Which sectors have high growth potential, and which are the ones that require significant transformation and restructuring? It is important that we set the appropriate aspirations for various sectors. Also, how is the Government supporting the different industries to deal with their unique circumstances? In our ITMs, have we been able to bespoke our policies for various industries? Moving forward, will we be able to have greater policy differentiation, for example, in terms of manpower policy, than what we have today? If so, can the Government provide examples? Update on Industry Transformation Maps (ITMs) The ITMs are the cornerstone of our restructuring efforts. Since 2015, we have rolled out most ITMs. Can the Government provide a comprehensive update on our restructuring efforts? Can the Government also share some of the early successes of restructuring? Which sector has achieved rapid restructuring and which sectors have been lagging? And what is the main reason for the differing restructuring speed? Specifically, I would like to ask the Government for an update on the Lifestyle ITM. Having said that, I would caution everybody against measuring our restructuring success using solely output economic indicators, such as value-add productivity change. This is because it will take a few years, sometimes three to four years, for outcomes of new strategies to show up in output statistics. So, using solely output statistics now to gauge the success is not wise.”
“Lastly, in my Budget speech, I talked about getting Singaporeans to think ASEAN. I provided five recommendations. I hope the various Government agencies can look into that. ASEAN Plan”
“Thank you, Mr Chairman. My first cut is on riding on rising Asia. Despite the global uncertainties, Asia is cited as a region of high growth. What are the Government's plans to help Singapore companies take advantage of a rising Asia? Can the Government elaborate on the specific measures that we are doing for key growth markets within Asia, as well as for the various growth sectors? Can the Government also share about the broad-based measures that we are doing to encourage Singapore companies to internationalise, and for our people to take on international careers within growing Asia? Are there any pressing gaps that our industries and workforce face that must be addressed? Lastly, can the Government share on the progress made to strengthen our Asia-specific market research firms mentioned in previous Budgets? Tapping on ASEAN's Potential Much has been said about ASEAN's potential – youthful demographics, large population, and sizeable headroom for growth. But those can only be achieved if ASEAN member states work together to unlock the potential. At the same time, given ASEAN's dynamism, we have also seen rapid economic improvements in many bright spots within ASEAN, so Singapore cannot take for granted our economic hub status within ASEAN. As such, Singapore must always work hard to shape the economic architecture of ASEAN, so as to benefit ASEAN and Singapore. And this is especially so, given our responsibility as ASEAN Chair this year. Can the Government share on our efforts to unlock this potential to benefit Singapore and Singaporeans? Besides positive economic conditions, Singapore companies and citizens must also be ready to seize opportunities within ASEAN. What more is the Government doing to ensure that we have prepared to capture the opportunities created?”
“Mr Chairman, the geopolitical situation has gone through significant changes over the past few years. Europe, by and large, has remained a source of stability. This has created a stable environment for us to further our long-standing relations and good economic ties with Europe. Can I ask MFA: how are we strengthening our relations with our European partners and with the EU as a whole? Beyond economic cooperation, how can we deepen our cooperation with our European partners in other areas, such as connectivity? And besides traditional areas of collaboration, are there new areas, such as technology and innovation, which we are exploring? Also, given the rising importance of the Arctic shipping route, Singapore has strategically placed itself as an observer within the Arctic Council. I note that there has been an increased interest in developments in the Arctic, and these are well-covered by the media. Major countries have also recently made important announcements regarding their Arctic plans. How will Singapore respond to the opportunities and potential challenges for Europe, including the Arctic? Lastly, in the various overseas work trip I have been to, I have witnessed the calibre and dedication of our ambassadors, our non-resident ambassadors and our MFA officers. Their hard work has continued to advance the interests of our country, and I would like to offer them my sincere appreciation. Our Role in the International Community”
“There is a beautiful saying, "having a child is like having a little piece of your heart running outside you". My wife and I are expecting our first born in the coming days. Parenthood changes people. I find myself wondering aloud: what kind of Singapore will my child grow up in? Will Singapore still remain open, an exciting land of possibilities? Or will we become an insular country laden by debts arising from an ageing population? Today, Singapore is in a good position. We have achieved balanced and inclusive economic growth, provide substantive benefits to our people, while holding taxes relatively low. 2.30 pm This is partially because we attract international firms and talent which contribute significantly to Singapore's economy while shifting considerable tax burden away from Singaporeans, including the GST that we talked about earlier. But our ageing population and the accompanying increase in social spending could knock us off our current balance. What are the consequences for the future generations if our current demographics and immigration trends continue? What are the tradeoffs that we need to make in the next 10 to 15 years? For example, will we still be able to maintain our low tax rate and high level of benefits to citizens at the same time? Beyond our current strategy of strengthening the Singapore Core, plugging infrastructure gaps, strengthening integration, improving productivity, and ensuring quality immigration, what other immediate steps must we take now, so that our people support a Singapore that remains open to the world? Population”
“My last recommendation is to create an annual Business ASEAN conference, much like the successful Business China Conference series, which put an annual spotlight on the exciting developments in ASEAN. The goal of all of these is to get our people to "Think ASEAN". If we can use our year as ASEAN Chair to start this mindset shift, the opportunities for Singapore and Singaporeans will naturally follow. With that, Mr Deputy Speaker, I support the Budget.”
“Two, we can promote exchanges between student leaders. As a young Singaporean studying in the US many years ago, I was deeply involved in the largest student leader exchange between the US and China. That allowed me to understand that lifelong friendships can be forged over time, if the programme is executed well. There is scope to do such a programme, linking the future leaders of Singapore with those of our neighbouring ASEAN countries. Three, we should encourage more interactions between our students and officials from ASEAN countries who are currently studying in Singapore. Today, many ASEAN officials spend short training stints in Singapore and they are here because they are slated for greater things back in their home country. Therefore, there is scope for us to network our students with them, so that we can benefit from their in-depth insights that are not frequently covered publicly. Four, we should encourage the teaching of ASEAN-specific knowledge. By that, I mean getting our tertiary institutions to teach ASEAN languages, business cultures and political culture through both formal courses and guest speaker series. Singapore has deep expertise in the region through many excellent institutions, such as the Lee Kuan Yew School of Public Policy, Rajaratnam School of International Studies (RSIS), Asia Competitiveness Institute (ACI) and Institute of Southeast Asian Studies (ISEAS). We also have multilateral institutes, such as World Bank, which has a deep presence in Singapore. Our leading bankers, lawyers and management consultants have tremendous experience working in ASEAN. Therefore, we can tap on these institutions and our experts to open up courses and talks to our students and young entrepreneurs.”
“I am also heartened to see the strengthening of talent development programmes. This includes Professional Conversion Programme (PCP) for Southeast Asian Ready Talent, SkillsFuture ASEAN Leadership Programme, GOASEAN Award, Young Talent Programme, and Infrastructure Development Internship. I hope that should these programmes prove successful, the Government can quickly scale them up. The creation of Enterprise Singapore, as well as the rollout of more programmes to support companies to internationalise, will strengthen our efforts. However, I feel that much more work is needed for Singaporeans to "Think ASEAN". Today, there is a dichotomy between the tremendous opportunities offered by ASEAN and the perception of ASEAN by everyday Singaporeans. Many Singaporeans I speak to, associate our neighbouring countries with affordable holiday destinations or places where we go abroad to do community service. In fact, many Singaporeans assume that many parts of ASEAN are backward regions and will stay so for a long time. But many parts of ASEAN are growing quickly, and these assumptions are no longer true. As such, it is very important for us to change the mindset, especially among our youths. After all, while our Government and our companies are more involved in ASEAN, the full benefits can truly be realised if our Singaporeans are personally involved in the opportunities. So, I would like to propose five ways we can encourage our people, especially our youths and PMETS, to see the possibilities in ASEAN. One, we could shift the balance of tertiary education internships, study trips and exchange programmes towards developing countries, especially ASEAN. And when they go abroad, we should ensure that our youths see the bright spots and centre of innovations within ASEAN.”
“And then, more time is needed before the numbers are finally submitted to ACRA and to our Department of Statistics. That is why we need three to five years before we can fully comment on the effectiveness of programmes, in terms of economic output numbers – whether it is GDP, Value Added per worker or productivity numbers. In the meantime, I feel that our debate should focus on input indicators of economic transformation, by which I mean the quality and the accessibility of transformation programmes for our businesses and workers. And let us not get fixed on immediate economic output numbers. Let me now touch on my main point on the speech today, which is getting Singaporeans to "think ASEAN". I agree with Minister Heng that Singapore should be a Global-Asia Node of technology, innovation and enterprise. By and large, I think we are making good progress. However, I think we can do more to tap a rising ASEAN. I am glad that our economic policies are keeping up with a rising ASEAN. Beyond the ASEAN Economic Community (AEC), we are also setting up the Infrastructure Office, which is contributing to more infrastructure development within ASEAN. We are expanding our Global Innovative Alliance into ASEAN's Innovation Network and we are pushing for the creation of an ASEAN e-Commerce platform. Beyond the announced measures, I would like to further suggest, as ASEAN Chair this year, that Singapore encourage other major ASEAN economies to increase funding for the ASEAN Secretariat. A stronger secretariat will improve ASEAN's ability to track and execute various commitments, so as to unlock the full potential of agreed measures. For example, a stronger secretariat will be able to help us better coordinate action in response to non-tariff protectionist measures within the AEC.”
“My second point is that our Government must actively help our seniors to monetise their assets to pay for their retirement. Because retirees have no income, they are more impacted by the GST, compared to other Singaporeans. Some retirees, even those living in private estates, are asset-rich and cash-poor. To help them manage the cost of living, I hope our Government can help put some urgency in helping them monetise their assets. I have spoken about this issue in depth during the recent February Parliamentary Motion on "Support for Senior Citizens". Therefore, I hope the Government can continue to actively ensure that such options exist in Singapore, either through reverse mortgage of larger flats in private estates, or through specialised reverse mortgage funds like those done in France. Third, I hope we can all recognise that ITMs are a long-term economic transformation plan and not push for immediate results, especially in terms of economic output numbers. Recently, some commentators have spoken about the effectiveness of the ITMs. I would like to point out that any major economic transformation needs at least three to five years before it is fully illustrated and flows into the economic numbers, especially economic output numbers. Let me illustrate. For example, the Government can launch a new programme to encourage businesses to use Artificial Intelligence in, let us say, year one. Major businesses, with their budgetary process, will need up to a year to make major shifts to take advantage of that programme. The efforts of the business will also take time to impact the bottom line. After the bottom line is made, it would still take many more months, even one to two years, before the improvements are reflected in any company’s audited accounts.”
“Mr Deputy Speaker, I rise in support of the Budget. I would like to talk about shifting our youths' mindset towards ASEAN. But before that, I would like to make three brief points about the Budget. One, we must be wary about dipping more into our reserve income. We can argue about the precise percentage of NIRC to use, but the important thing is we must continue to grow our reserves. If our reserves do not grow, it may not continue to anchor the stability of our growing economy. As a small city-state, Singapore has been described as a small boat in a large ocean. During the last big storm, the 2008 Global Financial Crisis, our reserves served as an anchor, thereby providing us with much-needed stability. Recently, some have commented that our reserves have already gotten too much and we can afford to spend a little bit more of our reserve income. However, I feel that many commentators did not talk about the fact that Singapore's economy is still growing and we are actually a small ship that is continuing to grow in size. With geographical uncertainty and the rolling back of financial regulations in US, the only certainty is that bigger and larger financial storms will eventually come to our shores. So, if our reserves fail to keep up with our growing economy, maybe not at the next crisis, but a few crises down the road, our reserves may not be of a sufficient size to anchor the bigger Singapore economy then. And if Singapore flounders, who will save us? The International Monetary Fund (IMF) or World Bank? Even if they do, at what cost, especially for the average Singaporean? Therefore, we must be wary of the serious implications of not growing our reserves.”