Mildred Tan
Singapore
“I urge the agency, the Singapore Deposit Insurance Corporation, to continue its good work of educating the public on its role, and the strength of Singapore's financial system as the fundamental issue remains one of credit, and even more basic – that of trust.”
“I thank the Minister of State for her comprehensive reply. I just have one quick question. With this growing trend, what is the Government's stand in ensuring the continuous upgrading of competencies in this field? There is a phenomenal number of people in this sector and the numbers keep growing every year.”
“A young worker recently told me that she was very happy when her HR in her company introduced a flexi-time policy in her workplace where workers are allowed to report to work anytime between 8.30 am and 10.00 am, so long as they clock in the required eight hours a day. So I said, "Is that not a good thing?”
“Do not be quick to anger, to judge or moralise. Who knows why the man lost his job, could not find another or why he could not visit his mother? Who knows what happened between a mother and her daughters?”
“The third recommendation proposes that, in view of environmental concerns on wastage due to unnecessary construction, the age and state of repair of buildings be included as factor in the STB’s evaluation of the application for CS.”
“I therefore suggest that a tripartite organisation be set up to help schools to engage parents and community, including religious organisations, work together to address social issues and moral education.”
The complete record
Every one of 61 lines we hold for Mildred Tan, in date order, each linked to its source. Free to read, in full, without an account. Page 1 of 2.
“I urge the agency, the Singapore Deposit Insurance Corporation, to continue its good work of educating the public on its role, and the strength of Singapore's financial system as the fundamental issue remains one of credit, and even more basic – that of trust. This is partly for the general financial literary and also to build up an important reservoir of trust, so that in the event of any financial crisis, the depth of trust would provide some form of foundation and stability. To that end, I do hope there will be more public education and, perhaps, the Minister can share with us the outcomes he hopes to share and the key messages he will ask SDIC to send out.”
“Then, I ask, for all intents and purposes, can someone with, say, $200,000 in cash be protected completely? Can they, therefore, spread their money to four banks, with each amount of $50,000, up to $200,000? The percentage of people who are covered under this Scheme would therefore mean that there is an increase of 83% to 91% protection. This places us on the high side of norms in terms of actual amounts insured, and there are countries such as Hongkong, United States and Britain which pay out such high amounts. Sir, I note that there is no cover on investment products such as unit trusts or guaranteed capital funds. The increase of deposit over $50,000 may encourage investments in low interest deposit accounts. This is not desirable in an inflationary environment. One way is for the protection to be extended to less risky investment products to ensure higher interest savings but, at the same time, I know this risk increases the costs to banks and financial institutions. Sir, this is a delicate balancing act and one that we may need to constantly bear in mind. The balancing is not between risks and premiums alone, but it is also assurance and reality checks. Sir, I would like to finally touch on corporate governance and audits. Here, I would like to declare that I am from Ernst and Young, a public accounting firm. The current Bill talks about audits, as the Minister had mentioned, but it does not quite indicate the audit of premium collections and the internal audit of SDIC. Perhaps, this could be considered. Finally, I stand in support of the Bill as I believe that the changes are for the better and this is an important juncture for us to do this.”
“I would say that this Bill will provide policyholders with an additional level of comfort over and above that which already exists in the form of insurers' holding reserves and capital. However, having said that, PPF will increase the costs to the insurers which will ultimately be passed back to policyholders. It then begs the question and the consideration as to how large is large enough. Too small a fund, there is no protection or even worse, it creates a perception of protection without the means to provide the protection. Too large a fund, the capital costs will be unduly onerous. Sir, the basis for levies paid to the Scheme needs to be clear and fair in respect of an insurer's overall risk profile. For instance, insurers that maintain a capital adequacy ratio above a certain level might reasonably pay a lower levy as their risk insolvency is higher. The levy should also be reasonably consistent over time to allow an insurer to make the right commercial decision as to what the price to set and where to deploy its capital. Sir, next, I move on to businesses. It is clear that the DI Scheme is to protect small depositors which include small businesses. First, I must say this is an important step to protect businesses as I think that this follows the same form as the protection for retail depositors: that you may be very rich, but $50,000 is all the protection you are getting at this point and, generally, this is a sensible approach. I applaud MAS for this timely initiative and congratulate them for having gotten consensus to expand the Scheme to include businesses. Sir, the Deposit Insurance and Policy Owners' Protection Schemes Bill increases the protection of depositors from $20,000 to $50,000.”
“Mr Speaker, Sir, thank you for allowing me to speak on this Bill. It is an important Bill and it augurs well that MAS has been proactive in the ever changing developments in the global financial regulatory environment as well as looking after the needs of local depositors. Since the Singapore Deposit Insurance Corporation (SDIC) was formed in 2006, we have seen an increase of the amount insured from $20,000 to $50,000. This, I believe, is in keeping with international norms as well as the growing wealth of Singaporeans. At the same time, this is an increase of 150% over the past five years. Perhaps, it is a little bit like crystal-ball gazing, but I wonder if the Minister would be able to project future increases or see the need to increase this over time, and to give regular interval updates on the need to review this. Sir, I would like to speak on two parts: first, relating to businesses and insurance practitioners; and, second, on retail depositors. First, on business and insurance. Sir, this Bill seems to address a gap that exists for deposit insurance when compared to intrinsically similar deposits written by banks which have been covered historically by other legislation. I understand that the Policyholder Protection Fund (PPF) will be formally established in this Bill. To me, this is significant as previously there was no formal PPF that existed, especially with the early contribution by insurers. It is also heartening to know that with the enhancements, we will see an increase of the life policyholder's coverage to 100% and the introduction of an aggregate cap that will enable PPF to be more accessible.”
“I thank the Minister of State for her comprehensive reply. I just have one quick question. With this growing trend, what is the Government's stand in ensuring the continuous upgrading of competencies in this field? There is a phenomenal number of people in this sector and the numbers keep growing every year. So what steps of measures are we looking at to upgrade the skills and competencies of the people?”
“Which among our tests were the most suitable in testing for social integration? Three, five or 10 years after they have become Singaporeans, how many do well economically? How many have joined volunteer associations and contributed to our society? How many have had children in Singapore? What difference, in short, have they made to Singapore? Sir, I know we have used proxies to show the amount that new citizens and foreign talents have added to our GDP. No doubt, they have contributed successfully to our economic growth but the answers that the study that I am proposing can provide are far more detailed and nuanced results. The results of such a study would be far-reaching, it would not only tell us about talent recruitment, but also many things and draw insights into our society as well. Finally, Sir, I end with a small point about making the best use of what we have. The reason we are keen to have more people here is to grow a vibrant economy and to ensure that we have the right capital. The other way to do this is to make better use of the people we already have. We need to make sure that women who have to stay home to look after their children or elderly, retirees and people with disabilities who cannot move about easily can still be economically active. This means ensuring the right institutional arrangements and incentives are in place for these different groups, and it is a matter for the Government, businesses and the unions consider all these.”
“Perhaps even a citizenship test that examines new citizens on Singapore's history and civic responsibilities. In the US, there is a vigorous new citizen’s test that examines potential citizens on American history, government, geography, civics. They are tested on over 100 questions. There is also a Canadian Citizenship test that one can get their Canadian citizenship and they are tested on government and history. There is also a new Australian citizenship test that will see potential new citizens assessed on their understanding of Australian civics and their responsibilities and privileges of citizenship. I would like to ask the Government to consider all these. Of course, I know the difficulty this poses. How do you test for willingness to integrate? How can we expect anyone new to subscribe to Singapore's values and ideology? How do we know whether a person fits in or sticks out? How do we know when a foreigner becomes a Singaporean? Sir, I know that each new citizen has to say the Pledge and that it must mean something to each one of them. But I wonder if there is some way that we can make the willingness to integrate a criteria for selection. Is there a way to ask questions that ought to tell us how this person is likely to fare in Singapore? Has there been any study undertaken to understand the impact of new citizens? To this end, can I ask the Deputy Prime Minister if we could conduct a large-scale longitudinal study on the impact of new citizens in Singapore? Among other things, it would measure effectiveness of our selection criteria for new citizens. What measures have we used to measure the suitability of these new citizens and in what ways have they met our expectations, fallen below or exceeded them and vice versa?”
“Sir, while the Singapore Government does not have a specific growth target, it is often stated that we do need a viable and sustainable population growth to develop a vibrant economy and society. The population size of 6.5 million was raised. We can grow Singapore: (i) by births of Singaporeans; and (ii) by foreign talent. I am still optimistic about our birth rates and how to get our young Singaporeans to settle down early rather than later in life. Some of us had a lively discussion with Deputy Prime Minister Wong yesterday on when and where we met our spouses. However, I will leave the discussion of marriage and procreation to other Members of this House. While I am not giving up on Singaporeans, we must think about how new growth must be from foreign talent. Foreign talent does play an important role in the success of our economy as they will augment our local talent pool in science and technology, finance, investments and businesses. Foreign workers fill many jobs that Singaporeans do not want to do, like in construction, marine and some service industry jobs. 3.15 pm Sir, I know that there will be MPs who will speak on social integration and problems that we face with a large inflow of foreigners and their impact on housing, transport and community living. As a small country, we will feel the presence of the inflow much more quickly. I believe we need to look beyond the criteria of skills and competencies, economic benefits, and the contribution in recruiting foreign talent and in the 20,000 new citizens. I know we have recently introduced the Singapore Citizenship journey to help new citizens learn about Singapore's history and our way of life. Perhaps it is time to go beyond Learning Journeys and consider imposing a more rigorous assessment.”
“Sir, finally, I would like to touch on one special area and that is of healthcare – about caring for our elderly and caring for those who are unable to look after themselves, for example, the mentally ill. Sir, I think it is vitally important for us to strengthen our home nursing or caregivers’ support, especially to home-care for the elderly or mental health patients or even terminally ill patients. Often we think of healthcare in hospitals and step-down care but I think more can be done for home-care support and to recognise the help needed by those at home. I would like to thank the Government, in particular, for the $1 billion for the new Matching Community Silver Trust. This matching Government grant set up for donations to the long-term care sector will help the sector be more attractive to private funding and donations. I would like to urge more companies and private individuals to step forward so that our elderly – especially our needy elderly – will be assured of a better tomorrow. Like the time-tested adage "a little drop of water makes a mighty ocean", I am hoping that no matter how small a donation may be, it will make a difference to someone's life. Finally, Sir, I congratulate the Finance Minister on a fine Budget and I wish him and his team every success in its implementation. 1.20 pm”
“Or retained by companies to recover their capital expenditure instead of being passed to staff? This is something for the tripartite team of unions, Government and businesses who will work together. But I encourage the tripartite committee to consider gain-sharing where there is something for everyone. Sir, I have shown that the three paradoxes can all be fairly and easily resolved through a paradigm shift on how we think of productivity through a new approach for foreign workers through open, committed sharing of productivity gains. We need to get people excited and we need to instil the pride that productivity and innovation can be a way of life here. Sir, I end with some observations about business costs in general. Rising costs of rents. Rents form a large part of business expenses and soaring rents is creating a heavier burden. One way which the Government could help businesses is to allow companies to have an extra tax deduction on the cost of relocating operations to cheaper leases. These costs would include logistics costs, professional fees in drafting lease agreements and stamp duties. This would reduce transaction costs and may encourage businesses to search for cheaper locations. Rising costs of living. If inflation is expected to remain above 3% annually for the next few years, I think we need to address the potential erosion of savings, especially CPF savings, now. I know that we have current plans to ensure that real income rises. At the same time, many Singaporeans count on this for their retirement. These sums need to be protected against inflation and our ability to meet the rising costs of living expenses in the long term.”
“With rising labour costs, Sheng Siong decided to automate the processes. Last year, the company embarked on a project to implement scaleable technology where wireless transmission of stock data captured on its weighing scales from procurement to distribution and sales directly to their Enterprise Resource Planning system. With this, their staff was able to access real-time information, obtain reports to make informed and accurate decisions for stock replenishment. This shows us how productivity is not simply replacing manpower with machines. It is not a matter of cost cutting. Productivity is about how output can be optimised and maximised, and how well-designed processes can help the company grow. The second example is Red Lips Food. This is a local manufacturing, specialising in production of the traditional Peranakan snack kueh pie tee. In the past, kueh pie tee cups have a shelf life of only one month. Red Lips approached Food Innovation Resource Centre based in Singapore Polytechnic and supported by SPRINGS to conduct a shelf life extension study on kueh pie tee cups using packaging technology. A solution comprising the use of improved packaging and optimal glazes combination was recommended. The shelf life of these kueh pie tee cups is today more than six months. The success of this project enables Red Lips to explore uses of the product and to target export markets for their kueh pie tee cups. Both these cases show that there is a lot which productivity and innovation can be done to improve things on the ground. But yet more can be done. This brings me to a serious point about sharing the gains of productivity. How does higher productivity translate to higher real incomes? Would the benefits of productivity be passed on to consumers with lower prices?”
“Take pains to identify those among them who will be able to contribute effectively to our economy. Companies should take the lead in identifying these workers and find ways to extend their work contracts. So should we invest in people who may or may not stay? I say invest anyway and find ways to make them stay. Here, I have a suggestion for the PIC scheme. The deductions have a positive cashflow only in the Year of Assessment and not in the year in which expenses are incurred. This delay in receiving the benefits may dilute the effectiveness of the scheme. Businesses, especially SMEs, will need cash upfront to invest in technology and training. My suggestion would be for the Government to allow SMEs with qualifying expenditure this year to defer a portion of their liability in the Year of Assessment 2011. This deferred portion would be equivalent to the amount of tax they would save or cash payout receivable in Year of Assessment 2012. The deferral could be spread over instalments payable each year until Year of Assessment 2015. This would encourage companies to start planning and investing immediately to enjoy an early cashflow benefit. It would also provide the Government with earlier indicators as to the take-up rate of the scheme. Everybody gains when productivity rises but how do we split the gains? Sir, I would like to take this opportunity to share two success stories about companies who have take up the Government's call on productivity and innovation and have tapped on Government grants. The first is Sheng Siong Supermarket. The work processes in the seafood division rely almost entirely on manual labour and most of their transactions done on paper with more than a hundred operational sales staff.”
“It is a result of the Ministry of National Development (MND) and URA for their master-planning and, of course, with the Ministry of Environment and Water Resources and PUB, which take care of water. Now, this is truly an example of innovative collaboration. Taken singly, these different things undertaken by the Government departments and agencies are just annual workplan projects. But taken collectively today, they represent a great urban innovation. But how do we plan for a "flash in the pan"? We need to regard our day-to-day work as part of a larger whole, to be conscious that innovation is not something that we get by thinking and reflecting but having a vision for tomorrow. Like the bricklayer laying a brick one day at a time to the bricklayer who is laying one brick at a time to build a world-famous cathedral. I urge us all to change the way we regard innovation as something that comes from reflecting, dreaming and thinking to the path of collaboration, to be excited that how innovation have effected so many transformations right before our very eyes. But how do we invest in people who may or may not stay? When we speak of training and innovation, we usually think in terms of Singaporeans or PRs. I urge more companies not to invest just in foreign talent at executive and managerial levels but also in foreign workers in our construction workers, in our shipyard workers and our service staff. I think it is useful to note that tax deductions for training expenditure under PIC applies to training for all workers, not just local workers. This is because they, too, contribute to our economy and it is often in these areas that there are many low-hanging fruits. We should see foreign workers as not a liability but an asset.”
“My work as Head of ASEAN Advisory Services for my firm takes me to many countries, both regionally and globally. Often, as soon as they know I am from Singapore, they will say two things: "Ah, Mr Lee Kuan Yew, you have a very clever government, we could use them here, they have many ideas." I am often asked about the different Government initiatives such as Cut Waste campaign to the introduction of the Productivity and Innovation Credits last year. Most companies and governments want to emulate what we take for granted. We are being watched for our innovativeness but, yet, we do not get excited about what happens right here. Take, for example, one of my favourite examples of ABC Water. There is a movement to make water a part of Singaporeans' lives, to open up the catchment areas, to make one piece of land serve different uses. In the Alexandra area, the canals still flow, the water still drains and now people see it as "waterside" living rather "drainside" living. We did not use more land or more money – okay, perhaps a little more money to landscape the place – but the economic value derived from the same canal has increased. The Park Connector is described by many as awesome. We have increased the economic value of land and properties in the surrounding area. We have increased the community pride and enhanced the social value in these places. This is, however, not a "flash in the pan". It is a result of collaboration of different parties. It is a result of "River Clean Up" in the 1970s that led to cleaner water bodies. It is a result of National Parks collaborating and coming up with landscaping.”
“Buying computers, sending people for training, hiring designers, generally buying or registering intellectual property are considered activities that add to productivity and innovation. At the same time, there are some caveats which we ought to be mindful of. I would like to point out that merely buying computers and investing in IT is not an assurance of increased productivity. Much depends on its application and on people using and exploiting technology to generate efficiencies or create new knowledge. Therefore, investing in technology and buying a new IT system must include the impetus to want to change, to become better, to see the difference and impact on the business. To that end, we ought to have some accountability on why the investment is important and when it becomes a business imperative. If not, the investment in IT system becomes a "flash in the pan", no different from buying the latest mobile phone or the latest technology equipment in town. We must inculcate the sense of ownership and pride to always want to do better such that productivity becomes a way of life and not just a project. Next, I would like to say a little about innovation. What counts as innovation? When we speak of innovation, is it just a great idea, doing things differently that brings an enhanced value or it is re-thinking a revolution or scientific breakthrough? It has been very interesting and insightful for me being in Parliament. Speaking from someone who is on the outside in the private sector looking in, I am of the view that there are many innovations in the public sector in Singapore. In recent years, many of these have made a great difference to the lives of Singaporeans but few talk about.”
“Sir, thank you for allowing me to join in the debate. I would like to thank the Minister for Finance for once again encouraging productivity and innovation in companies. Having studied and worked with companies in developed countries, I know these two activities will make a great difference to the Singapore economy. The enhancements to the Productivity and Innovation Credit scheme is also very generous and recognises the huge capital and training outlays that companies face in automating and improving their business processes and operations. These tax credits would help level the difference between the increase in labour costs and capital expenditure and will encourage businesses to offset increasing labour costs by investing in capital and training. Quantitatively, every dollar spent on qualifying expenditure, businesses could get up to 68 cents in tax savings through the PIC. However, I do feel there is still much to be done to increase innovation and productivity activities. We need to create a buzz to get people excited. There seems to be some difficulty pinning down exactly what constitutes innovation and productivity activities. I would like to point out three paradoxes in our current thinking and how they can be resolved. How do we plan for a "flash in the pan"? First, what counts as productivity and innovation? There is a general notion that it is anything that allows us to do more with less. This is not a bad rule of thumb. For operational purposes, Sir, I note that there is an implicit definition in the qualifying activities that are funded by the Productivity and Innovation Credit.”
“I just wanted to ask whether more could be done in terms of public education for the retirement top-up funds.”
“However, with support and a good dose of encouragement, we may be able to overcome our fears and insecurities to move forward, like Mdm Goh, as highlighted by Member Josephine Teo. I commend the efforts of e2i as it continues to help workers to re-skill and re-train. However, it is also important to recognise that workers themselves need to be motivated on the possibility and potential within themselves, to want to step out and not to be afraid. Sir, there will always be a need for low-skilled jobs. But I think it is still important to include development opportunities, so that the workers who do these jobs have the chance to move up. The meaning of inclusive growth for me is a simple one. It is a triangle where employers need to be fair, provide a safe working environment and respect workers. Workers need to open up themselves to new opportunities, want to have a better life for themselves and their families, and to be willing to invest in the future. The Government needs to balance growth with equity, but it also needs to make sure that new opportunities and subsidies through workfare and incentive schemes are weighted towards those who need them most. Sir, I support the motion and urge the Government to put in place policies that will help the market decide which way they ought to progress, so that everyone benefits and we can all grow together. 4.34 pm”
“We often think of changing workers to fit the organisations when, in fact, there are things we can do to re-design the organisations, and how workers can bring about a culture of innovation and improve the way we work. Yet, there are employers, who at the first signs of economic pressure, reduce training and development hours. We therefore need employers and companies to recognise the importance of building a corporate culture that values enhancing skills and competencies as a progressive strategic advantage, almost a business imperative. I would like to now offer another consideration: that of self-help and apprenticeship initiatives. This is not new, yet apprenticeship and placement programmes offer many opportunities that may help low-skilled workers move up the competency and income ladder. We can see this in many forms – apprenticeship in kitchens, gardens and even cleaning services. I was recently invited to a dinner and met the chef who cooked for us. I knew him as a kitchen assistant in a small restaurant I used to go to. He told me that he lost his job two years ago and could not find another job. But that, he said it turned out to be a turning point. With his skills and interest in cooking, he decided on a new track to offer his skills and services as a cook for people who enjoy good homecooked food. To that end, this man stepped out and re-invented himself. It is a time-tested adage of teaching a person to fish as opposed to giving him the fish. While we can offer various opportunities, the worker himself must consider how he can step up and have a desire to excel. However, often we keep to what we know, we are in our comfort zone and moving out is not easily undertaken.”
“Thank you, Mr Speaker, Sir, for allowing me to speak. Sir, I stand in support of the motion. This is not a difficult stand to take since an inclusive growth is not just about doing the right thing and not because it upholds moral values, but because it makes good business sense. And because it makes good business sense, it provides us with a long-term sustainable economic model for the future. For me, an inclusive growth draws on the different strengths of each individual and creates a greater collective value than would have been the sum of one. Sir, I would like to reiterate a point I made in the Budget debate last year about how we need to fundamentally re-think issues relating to low-wage workers. Low-wage workers are stuck in structural realities. They need to acquire new skills to fit to the demands of the new economy and it should not be training for training sake, but training and learning that enables them to match skills and knowledge and competencies they are required to compete in the global marketplace including technology and language skills at a competitive cost. The House has been consistent in the support that training and developing workers are critical and important to the new economy. I think we need to go beyond training and development. Companies need to take a deeper look at how they can re-design their organisations and jobs. Here lies the importance mindset shift that organisations need to constantly re-invent themselves and that workers are not a widget of production, but one of the most critical components and that they can add value that there is sometimes not easy to define to the institutions.”
“A young worker recently told me that she was very happy when her HR in her company introduced a flexi-time policy in her workplace where workers are allowed to report to work anytime between 8.30 am and 10.00 am, so long as they clock in the required eight hours a day. So I said, "Is that not a good thing? Flexibility means you can decide for yourself how best to fit the work day in." To that, she replied, "Yes, you can come in any time but it must be the same time every day." Sir, I realise that flexible negotiations between firms and older workers are provided for in this Bill. Flexible is a key word here. At the same time, the considerations are multiple and hard to quantify. In this case, I call for all three partners in the labour equation to work together to ensure a fair deal for all. Sir, I support the Bill. 4.21 pm”
“My point is that if all the value must be reduced to economic value for us to take notice, the challenges lie in us not being able to capture it all in the planning stage. For example, it is not possible to say that an older worker who has worked on board a ship will add 10% more value than someone who has been working on land all his working life. There is no basis for this, except a post facto one. It is only after a man has come into the workshop, and after the workshop performance has improved, that we are able to talk about the added value the man has brought. The second challenge is that it is not only post facto; it is also non-uniform. That is to say, not all workers hold an equal premium over younger ones. Many factors come into play. It depends on the job, the organisation, the opportunities and the man himself. An older midwife is infinitely more valuable if you have a difficult birth. Her experience makes the difference between life and death but you will never know unless you have difficult births. These considerations are messy, particularistic and hard to handle. No wonder they are discussed as non-economic considerations. But they can impact the bottom line, and they can add or subtract value. In this sense, I urge these non-economic considerations be regarded seriously and for more firms to be like Sembawang Shipyard in providing and rewarding opportunities for older workers. Sir, finally, a word on implementation. I know that a common pastime for workers and staff is at the coffee machine or the pantry and it is usually to criticise policies devised by Human Resource (HR) or the Management that are being implemented.”
“For wages, we have the flexibility to negotiate individual contracts, but for healthcare costs and issues, it is less straightforward and there is more work that needs to be done. I would like to suggest that the tripartite partners work together to make medical insurance including Eldercare, MediShield and Medifund more accessible to older workers. I would also like to suggest that such insurance be made portable among companies. In this way, it reduces the cost of older workers by lowering the risk of higher healthcare costs, and makes it more attractive for firms to re-hire at more competitive salaries. Sir, with Singapore's maturing economy and shifting demographics, we cannot afford to be oblivious to the non-economic considerations in this discussion. We need to view the issue of re-hiring older workers with extended lens beyond economics. First, let us question the inclination to regard the output from all workers as being perfectly comparable. For example, I know that Sembawang Shipyard has a very good policy of re-designing work for older workers. When the engineers and technicians become too old to clamber up and down ships, they are re-deployed to the workshops on land. With the benefit of having worked on ships before, these older workers have a better idea of how design impacts the ship and what will work or what will not work. Like a fine craftsman, it boils down to the feel of the steel between your fingers that produces excellent work, even if he might not know how that would translate into economic dollars per year. So the benefits of hiring and re-designing work for older workers are there and Sembawang has reaped it in the strong camaraderie at the yard and in their sterling results every year.”
“Sir, I congratulate the Government for bringing this to the Second Reading of the Bill. To say that raising the retirement age is something easy to do would be scratching the surface. Sir, I support this Bill because it gives security to the suppliers of labour that they will have a fair market in which to work in, and also buyers of labour that the market is one that is priced fairly. This Bill mandates that employers must offer re-employment to workers who turn 62 until they are 65. In reality, even before this new legislation kicks in, there are older employees who have already negotiated with their current employers for re-hiring. So it would not be wrong to say that this Bill does not create a new market. What it does is to make it a better market. Under the classical economic model, any intervention to a free market makes it less perfect. This, of course, assumes that buyers and sellers have perfect knowledge and are equally equipped or empowered to negotiate on price alone. However, these assumptions do not necessarily hold true in daily economic life. In the current market we are speaking, these assumptions may be too general. This Bill contributes by giving older workers the assurance that they will be hired after 62 and at least until 65. The question really is: why are employers reluctant to re-hire older workers? As an employer, the age of a worker is not my concern but from a business perspective, it is about cost and output. If we see labour as a factor of production and if we say we can get the same output with less cost, that makes economic sense. However, older workers can sometimes cost more due to the seniority-based wage system and because of healthcare issues.”
“Do not be quick to anger, to judge or moralise. Who knows why the man lost his job, could not find another or why he could not visit his mother? Who knows what happened between a mother and her daughters? I think more than ever that a good outcome is not just about getting payment for the parent but also getting some form of family life back to the people who find themselves in difficulty, not just the financial aspects but the relationships within – the healing process for this family has begun. The Workgroup's conciliation-first approach is still the essence at the Tribunal. This, to me, is the meaning and importance of MPA. Sir, I thank you for your patience and I support the Bill. 4.20 pm”
“In one year, this son exhausted all his savings and her medical bills were mounting. His mother needs regular dialysis and he carries her down from his flat and brings her for dialysis treatment and, oftentimes, this has resulted in him being late for work. He now wants his other siblings to share the load. What struck me was not just his call to share the financial responsibility but for them to visit her. I was moved by his story but I soon learnt that each of the other three siblings who were present had his or her own story to tell regarding his or her financial situation. The Tribunal then ordered a payment of $25 from each of them. My first reaction was about the amount disbursed. But as I reflected upon it, it was a wise decision – it was not just about money, it was about healing within this family. I think the daughters now feel that they are able to contribute within their means and they may begin to visit their mum, as they were concerned about the financial responsibility if they had any contact with her. But even with this amount, the other son said it was difficult for him as he had just lost his job. And when asked how he was looking after his family, he replied, "My father-in-law." The external intervention provided by MPA was an objective resolution to how much one should pay for a mother who needs a lifetime of care. The widow will still need help from Government agencies and Voluntary Welfare Organisations (VWOs). I believe this lady will be given ComCare assistance. Her medical bills will be subsidised. Yet, the principle still holds, even if it is a thin $25 thread, people have a duty to care for their parents. Family ties and social conditions are complex and complicated. One cannot go in with any assumptions at all.”
“This amount can also be used as part of the parents' Medisave, MediShield or living expenses. And like charities, their contributions can be, perhaps, given tax deduction and, better yet, double tax deduction. Obviously if the parent is not deserving, or for any reasons best known to the individuals, they can also choose not to contribute to the Parents Savings Account and therefore opt out. Having discussed this extensively before I came to the House, I realise that there are many pros and cons with this suggestion, including the definition of "parents". Would it include stepparents, adopted parents, foster parents and things like that? But I felt that it was a proposition worth considering. And based on the survey that Mr Seah mentioned earlier on, where 90% of the 4,000 young people surveyed believed and felt that they would care and support their parents, I felt that it was a worthwhile proposition. With an ageing population, we should consider this now when we are young rather than address the needs when we are old or when relationships break down and we have to rely on the MPA. Sir, let me end with an enduring image that has stayed in my mind while working on the amendments. As part of the process of drafting the legislation, Members of the Committee sat in on the work of the Tribunal. This case stayed in my mind. It was about a widow in her 80s. She has five living children. One daughter, divorced, had been the main caregiver to her mother for many years. She recently remarried and now lives with her husband in Malaysia. The applicant has multiple medical conditions – kidney failure, heart problems, diabetic, hypertension and she needs daily dialysis. With her daughter’s departure, the widow was then passed to the care of her eldest son.”
“One of them had a quote from a Roman philosopher Cicero who said that "old age will only be respected if it fights for itself, maintains its rights, avoids dependence on anyone, and asserts control over its own to the last breath." I do not think he was talking about the MPA, but I do think what he said has great force today. He was, I think, making the point about someone who says, "Here I am, I have planned for my life, provided for myself and I am master of my life." The question before us today is when we are old, can we be masterful and independent – a respected responsible older person that Cicero talks about? If we agree that being a good son or daughter means providing for parents, if we agree that being a good parent means not neglecting our children, then should we move from discussing the principles to making this a reality and into policies we make and how we can implement this and weave it into the fabric of society? I would ask the House to consider something more concrete and practical. Have a series of pro-family statements that will lead to action, but born out of national dialogue and public engagement. One example could be a statement like: We should give $x (be it $5 or $20 or whatever amount you determine) of our income to our parents when we first start work, and this could be cumulated over time. Today, there is a CPF Top-up Scheme for parents, but I would like to suggest an opt-out system where when a person begins work, a certain pre-determined base is automatically deducted from his or her CPF account and credited to the parents’ CPF account (be it father or mother or both). This account can be called the Parents' Savings Account and can only be drawn down by parents on a monthly basis after they reach the age of 55 or 62.”
“The UN calls these principles "Principles for Older Person" and were adopted by the general assembly in 1991. There are many countries who hope to solidify these principles into laws of their land. For example, in India, they have the Maintenance and Welfare of Parents and Senior Citizens Act of 2007; in China, the principle of the People's Republic of China on the protection and rights and interests of the elderly 1996; and America, the Older Americans Act (section 721) which prevents elder abuse, neglect and exploitation. While these may differ from MPA in its application, they all try and capture the values which we feel older people, that is, our parents, ought to have. Law, however, is a poor vehicle for values. If we want to make sure that these principles are learnt and accepted, we ought to look elsewhere. One easy answer would be to say that parents should teach these values and schools can help us reinforce them. On public engagement and national conversations: being a respected older person and the responsibility of being part of a family – I do think that some form of public engagement needs to take place about the roles of children and parents, the sort of family that each member wants to build and each understands the expectations of the future. In our Asian context, I think that most parents think of their children as their children for life and give little thought to the possibility that one day they might need their children for both financial and emotional assistance. My colleague, Mr Seah Kian Peng, has spoken about the policy memos written by the Lee Kuan Yew School of Public Policy students which I read with much interest.”
“But we are not speaking of any business investments here. There can be no audit that will give us a clear idea of the flow of feelings and emotions, of love denied, or affection withheld, or incompetent care, or egregious disregard for the elderly. I can say with authority that in a business transaction, it is wrong for anyone to enrich himself from the company coffers by inflating his expense claims or by hiding these actions from his directors. But who am I to say that a child should honour his parents by giving them respect and dignity? Who am I to say that money paid out should be returned when the paying out was unconditional? Yet, the difference with corporate responsibility is not so different. The reason we accept the norms of corporate governance – that it is good to be accountable, to be transparent, to curb unfettered discretion – is, at the end, a moral one. We agree that this is the "good and right" thing to do. So, too, we need to make sure there is such a code or value for the family about what is "good and right". In a way, the MPA is only at the tail end of the work. The MPA is merely a way of codifying one principle of this code – that the first port of call for parents should be their children. They should not go immediately to the State. This only works, however, if the children and the parents themselves agree to abide by and work according to this code. When I say "code", I do not mean laws such as the MPA, I mean the principles that underlie it. The United Nations agrees that governments should deal with the elderly according to the following principles – independence, participation, care, self-fulfilment and dignity.”
“Mr Speaker, Sir, thank you for giving me the opportunity to speak. I am privileged to have been part of a group of my fellow MPs to have worked on such an issue as the elderly and how this can be tackled sensibly and, yet at the bottom of it all, dollars and cents only matter when they are properly matched to values such as compassion, care for the elderly, respect and reciprocity. First, the law already enforces an obligation on children to pay for their parents' living needs. These current amendments merely render the existing law more concretely. It already assumes that society feels that this sort of duty is not just a moral one, but also one that is enforceable. Having already made it into a law, it is only sensible to me to make the law as easy to implement as possible, which is the essence of the amendments today. I must say that in this regard, I come to the side of the parents – once a ruling has been made to obtain financial assistance from the children, the duty of care has been established and the children ought to pay up. If we allow them to walk away and dodge payments, we are forced to spend money and time chasing them down as if we were ah longs or illegal moneylenders – a situation no one wants and most certainly parents, too, have their pride and self-esteem. And parents who have looked after their children well and their children have now the financial ability to care for them should be responsible. If they do not take on this responsibility, we do whatever is needed to empower public officials to help. Second, these amendments are necessary but they are not sufficient. Part of the justification of this law lies in the fact that children should look after and pay for their parents because their parents paid for their upbringing. No.”
“I would like to thank the Senior Parliamentary Secretary for his reply. Would the Ministry consider providing areas for prams and wheelchairs on buses and trains as well?”
“Mr Speaker, can I ask the Minister for an update on the EU-Singapore Free Trade Agreement (FTA) discussions? Have these been impacted by the situation in EU?”
“Sir, one supplementary question. Can the Minister share some ideas on the early alert system he mentioned to inform the public as well as to allay the fears and anxiety of home, shop and car owners of these flash floods? Assoc. Prof. Dr Yaacob Ibrahim: Sir, the early warning system we have is an SMS-system that is triggered using the water sensors that we have in our canals. We monitor the water level of our canals on time. When it reaches a certain level, we basically trigger the alarm to inform agencies such as the Police, SCDF and others to be on high alert. We would extend this alert system to the businesses affected. We are now studying whether we can extend this to the public, because it just involves an SMS. We would ensure that people who are in the low-lying areas, if there is an incident that is about to happen, we are able to inform them so that they can take the necessary measures. But the point is that all of this is not an exact science because the water level would have to reach a certain level, based on our judgement, for us to trigger the alert. As to whether flooding will occur or not, it is not possible for us to say with 100% certainty. But, at least, I think the whole point is that the businesses can do something. If there is no flooding, it is okay. If there is a flood, they are able to save their properties. We would study this system in a more comprehensive manner to extend it to members of the public. Meanwhile, as I mentioned in my reply, we would extend the number of sensors, from 32 to 150 eventually. We would put all of the level of the sensors on PUB's website. Even if you are not on the alert system, you can go to the PUB website and see the water levels in real time.”
“The third recommendation proposes that, in view of environmental concerns on wastage due to unnecessary construction, the age and state of repair of buildings be included as factor in the STB’s evaluation of the application for CS. Christudason's and Mehta’s preliminary findings reveal that for 223 out of the 325 buildings which have gone through CS since 1999, the majority, 80 buildings were between 21-25 years of age. However, a small number of developments, 28 buildings were only 11-15 years of age at the point of going through CS. The researchers proposed that Singapore could consider the example of Hong Kong where the age and state of repair of a building are factors which the Tribunal must take into consideration before it approves an application. I shared these proposals with the House and the Minister as I believe that they will further enhance the safeguards to protect homeowners who wish to enjoy the fruits of their labour in their retirement years.”
“Apart from the destruction of their social support systems, respondents in my colleagues' survey expressed great anxiety about finding replacement homes, the actual moving process and the problems of adjusting to a new living environment. Some even suffered traumatic health consequences. Therefore, I am in strong support of this Bill as it incorporates reforms which protect the minority homeowners who are not in favour of the en bloc proposition. This Bill further empowers the Strata Titles Board (STB) to ensure that each application is done in good faith. Of significance are the disclosure requirements for individuals who stand for election to the Collective Sale Committee (CSC), as well as the extended restrictions on when an Extraordinary General Meeting can be called. I see these as proposals that serve to protect the minority proprietors who are often older residents. In addition to these, my colleagues have also made three recommendations based on their research findings which I would like to share with the House. The first is the creation of a resource unit, perhaps to be located in the STB, that will serve to mitigate the stress and negative consequences of relocation, especially for the vulnerable homeowners, which include frail elderly living alone, the physically handicapped and the mentally challenged. The second proposal is the publication of an information booklet that can be made available to those who require clarification about the en bloc process. This publication can include fundamental concepts such as share value and the apportionment method, obligations of those in the CSC, grounds on which a minority can object to the sale application, the role of the STB and other rights of the minority including adjudication.”
“Second, and relatedly, I feel that with the time limit on mediation and a potential swifter process to the courts, there needs to be some minimum qualification that members of sales committee should have. For example, they will need to understand the basics of property law, property rights, conveyance and so forth. As the sales committee now will more likely need to work at a different pace and level from the past, I would ask the Minster to consider if we need to state some minimum requirements or criteria be it the knowledge of the law, evaluation and estate management to qualify people who want to sit on these committees? Sir, I support the Bill. 3.34 pm Assoc. Prof. Paulin Tay Straughan (Nominated Member): Thank you, Sir, for this opportunity to place on record my endorsement for this important Bill. Home ownership is, to many, more than just an economic investment. Especially for elderly homeowners, the home is a repository of precious social memories. When en bloc fever hits a development, it is particularly heart-wrenching when we read of elderly homeowners who are forced to sell their homes, relocate and, as a result, suffer spatial and social displacement. With your permission, Sir, I would like to share with the House the research findings of my colleagues at the university on the impact of en bloc sales on older persons and community building. Assoc. Prof. Alice Christudason, from the Department of Real Estate, and Assoc. Prof. Kalyani Mehta, from the Department of Social Work, are the investigators in this project funded by the NUS. They found that those had lived in the estate for about 20 years or more, and these are usually the older residents, they were often negatively affected by the whole process of Collective Sales (CS).”
“The third way refers to adjudication – of the process of taking into account the different interests in the case – whether this is for profit or for sentimental reasons. In principle, therefore, I feel that any decision emanates from this Bill is fully justified. I believe that when rules are clear and when the interest cannot be reconciled, we should then take a expeditious route, bite the bullet and allow the process itself to provide the justification of the decision. Hopefully, the thought of going to court, which could be an expensive and potentially difficult process, should be a deterrent forwards litigation and not an excuse to drag out mediation. My only reservation comes from the constitution of the sales committee. First, I see that the new law allows a simple majority of owners to vote out dissenters from the committee. That is to say, a sale committee member who does not agree to the sale can now be voted out. To me, this may create the situation of a committee that is inherently biased towards a sale. We ought to retain members because they are reasonably intelligent, have some stake in realising the full value of the property and are willing to participate intelligently in the process of negotiation. Just because they are against any particular sale, or terms of sale, should not automatically disqualify him. That person should also be agnostic about whether he is opposed to or supportive of any particular sale. If he does not agree to any particular sale, as long as he discharges his duties with proper due diligence, disclosure and governance, I feel he should be allowed to disagree. In any case, the strength of numbers will already count in the voting process of the en bloc sale itself.”
“Mr Speaker, Sir, thank you for allowing me to speak on this topic. I support the strengthening of this Bill, which is both timely and necessary. However, I would like to make two suggestions on the process. The newspapers and commentators have already spoken about the changes to the cooling off period which are good, and which I support. Overall, the changes will ensure that the sales process is taken seriously, and is moved along expeditiously. More importantly, I think, while it recognises the role that personal interests and emotions play a large part in any property transactions, it also recognises the need for the distillation of a collective interest and for this process to be fair as well as quick. It is therefore a good idea to allow the process to move more quickly to the Courts. This is not because I do not support the idea of mediation, but because I do not think the same body should mediate and adjudicate. More critically, I also think that allowing more time for emotional debate does not help the resolution of competing interests during en bloc sales. Sir, an en bloc sale requires the need to reconcile many different points of views. But when we speak of collective decisions, there are basically three ways to get it right. First, your decision is right if it is the most reasonable. Second, your decision is right if you go through the right process. Third, your decision is right if it takes into account all legitimate interests of the case. The first is the best, of course, especially if there is full agreement and a unanimous decision is reached. The second relates to the process of mediation and adjudication, and it is my view that the amendments to the Bill improves these processes as well.”
“This is not merely a matter of greater productivity but also in the cases of some foreign workers who work in shipyards, construction sites and even the manufacturing sector. This may even impact workplace safety. Teamwork means you look after one another and ensure that the other person works safely as well as efficiently. Secondly, a people matter – it builds a better, happier team. People who are happy work better, stay longer, and create a more convivial workplace atmosphere if they are happy with their co-workers. Thirdly, an innovation issue. Teams which work well together are more innovative, generate new ideas, flexible and inject new life into an organisation. If the benefits from this pilot project become more clear, then more companies, too, will want to join this movement to embrace diversity at the workplace and the Government can support with some co-funding. While these three benefits accrue directly to the company, Singapore, as a whole, will gain and benefit as well. A better understanding of other cultures and people at the workplace will translate to enhancing the social living space. After all, Singapore began as a melting pot of different races with a common ground of finding work and building a future – we start with embracing workplace diversity and, hopefully, celebrating a shared future.”
“Sir, in recent months, we have spoken about the need to integrate the foreign talents in our midst. In the social space, there may be some tension – assimilating a large inflow of foreigners in our Housing Board void decks, playgrounds and exercise parks, and that is not easy. But I believe that there is a more neutral territory in which integration can begin – and that is at the workplace. Considering Singapore's large foreign workforce, would MOM incentivise companies to adopt work practices that promote social cohesion to enhance productivity and good teamwork? Sir, in other countries, this is called "diversity training" which requires people to understand and be sensitive to the needs and cultural background of their co-workers. Many large MNCs require their teams to do this in Singapore. In some companies, there are also "Diversity Managers" specifically employed to look after this area. Sir, can we support a movement towards this by building on the existing harmony circles that are already in place in workplaces to promote social integration? Sir, I understand that such circles were meant to promote inter-racial harmony among Singaporeans but why not use them to promote integration among colleagues too? I would ask for a $1 million funding – one-tenth of the same amount given to the National Integration Council – to test-bed integration efforts at the workplace, especially in SMEs. This money could be given to diversity training, to organising social activities and programmes, and even for study trips. Now, what will we be getting for this $1 million? Firstly, promoting teamwork increases efficiency.”
“I therefore suggest that a tripartite organisation be set up to help schools to engage parents and community, including religious organisations, work together to address social issues and moral education. Madam, I would like to suggest an initial funding, perhaps $10 million spread over three years, to undertake projects to help our children grow with a stronger moral compass. We must be committed to help every child grow with strong moral values to help them develop in the best possible environment with the best possible opportunities for each of them. Otherwise, we must know we can lose them – even when they are nine years old! PE, art and music education”
“45 pm Madam, how do we prepare our children to be able to discern what is good and right for each of them and to enable them to make good judgment calls when confronted? It is not easy. How do parents today communicate with their children? Is it by phone, by SMS and, worse still, by email? Do we and how often do we as parents have face-to-face conversations with children, engaging them to share on what is going on in their lives or what bothers them? I am part of the COMPASS group at MOE and we visit schools and get a chance to spend time and talk to the teachers and students. One teacher shared that today it is easy to teach and tell the children that cheating and stealing are wrong but it is difficult when they explain about morals and values, eg, abstinence from sex with their students. Some parents feel that this should be part of the school curriculum while others feel that it is not the schools' responsibility. Who is responsible for moral education? I see the statistical rise in teenage sex as young as 13 and 14 years old being sexually active and our youth getting more enamoured about gambling and the statistical rise in youth gambling. Although less obviously moral, there is the issue of youth gambling. A small wager at school may lead to larger bets and then out of control spending in bets, especially soccer betting. With World Cup coming soon, will we see a rise? A strong moral foundation gives a teenager the mental maps to distinguish between small wagers and real gambling. This I have seen in the work of NCPG where I am a member of. Madam, I would like to suggest we take moral education as seriously as we do academic benchmarks. This, I believe, is a shared responsibility.”
“Today I would like to speak on a topic that has gained new currency in today's schools – moral education and character development. Madam, we all agree that education is not just academic performance. Yet we speak of a student's grades when we evaluate him. We agree that schools ought to be valued for the character they build in our children. But yet we rank them according to our academic results. We agree that parents ought to be involved in their children's education. But much is left to the school. Madam, we agree about many things but this has little impact on the ground. I raise the following not to be an alarmist but to approach a very difficult subject. Madam, we know about the loosening of social norms in recent years. But imagine my shock when I found out recently that the youngest mother in Singapore in recent years is a nine-year old girl. She was in Primary 3 and the father was a boy in the same school. When she became a mother, she was about 1.3 metres tall – quite big for a girl her age. She met her boyfriend in school and they had sex frequently at the girl's house, which was a private property. Madam, this girl was just nine years old – sexually active in her own house and her parents did not know. She was so young and when she became pregnant and the baby started growing inside her, she did not know what was happening. When she had morning sickness, she just felt sick and the mother just thought she was sick. When she went to school, her teachers and friends did not see anything wrong. Her mother thought she had a urine infection and took her to the doctor. She was six-months' pregnant. This case was reported in both the Tamil Murasu and the New Paper. 5.”
“Sir, I thank the Minister for a comprehensive explanation on the Budget and how it works. Can I ask the Minister of Finance about the two points that I had raised earlier during the Budget debate, that of the inclusion of a organisation design for tax deduction and the withholding tax for mega events?”
“Last year, 2009, in response to Ms Ellen Lee's query on educating the population on the effects of trans fat, the Ministry said that HPB will step up public education on the harms of excessive consumption of trans fat, and work closely with AVA to review trans fat in food supply. This was in view of the local studies conducted, which showed that 30% of adults here, particularly those aged 18 to 39, exceeded WHO's recommended daily limit. After three years of deliberation, is it time for us to introduce mandatory or compulsory labelling of trans fat content in food? At the same time, we should keep in mind the possibility of banning such food in the near future. Sir, while I agree that diet is a matter of personal choice and that we need to take into account practical considerations such as trade barriers, product labelling, and so on, we need also to weigh in such issues as general public health issues and its expenditures and informing the public. Therefore, prevent is better than cure. Sir, can the Government at least for the moment support initiatives such as labelling efforts by giving local food companies and supermarkets a grant to do so and to increase funding in public education in this area? Myopia”
“Sir, many cities such as Boston, New York and Philadelphia have banned trans fat, a food ingredient commonly found in french fries, donuts and other fried foods. Trans fat has been linked to heart disease in humans and diabetes in experimental animals. In Singapore, three in 10 Singaporeans have exceeded WHO's recommended daily limit. Will the Ministry of Health (MOH) consider banning this or increasing public education in the harmful effects of trans fat or consider mandatory labeling; similar to what NTUC FairPrice did with the household products? Sir, this suggestion is not new. Back in December 2006, the Health Promotion Board (HPB announced that it would not ban the use of trans fats in food products. At the time, it gave a long list of reasons mainly based on consumer choice and practical implementations, for example, we consume less fat than Americans. The HPB is hesitant to pass legislation on trans fat as this would result in trade barriers, especially since many food products found here are imported from various countries. About 70% of packaged food products currently do not carry trans fat labelling and will be affected. This would limit the choice of food Singaporeans have. Legislation limiting trans fat to 5% of a product's total fat content would affect 30% of packaged food here. Since then, HPB in 2007 announced it would allow food products with little or no trans fat to be labelled accordingly, but it had said "no" to Mdm Halimah Yacob's suggestion to move towards compulsory labelling and in the same year, NTUC FairPrice then took up the call to voluntarily declare trans fat content on its household products.”
“There is much we do not know but there is even more than we can dream of. The Singapore water policies are good examples of how looking ahead and planning for a very long term has stood Singapore in good stead. It is perhaps uncharacteristic to speak of dreams in a Budget debate. That is why I would like to signal my support and urge our urban policymakers to dream on and to consider the policies of alternative sources of energy. Sir, I congratulate the Finance Minister for a well-considered Budget and ask that he considers some of my suggestions with the hope that it will be an even better one. 5.53 PM”
“Nuclear energy is something foreign to many of us but we need to consider the long term because of global warming and the unsustainable use of fossil fuels. Fuel prices will continue to rise in the long run. I believe we do need to look at our energy policies. Two things appear to put Singapore out of the nuclear map. First, when we speak of nuclear power plants, the first thing people think about is, "not in my backyard." Even more true because, in Singapore, we are so small, we do not even have a backyard, but we do have smaller, outer islands that may be far away enough. Second, radioactive waste. The timeframe that we are speaking of for such a waste to run into harmless level ranges from 10,000 to a million years. How do we deal with such waste? But we do have a hope of new technology and R&D which, in time, may neutralise radio activity. Who knows? Sir, nuclear energy is high science and alien to me. However, it warrants serious consideration and financial resources should be set aside for this study on nuclear energy – visit other countries, see what others are doing and research. In the sixties, when we first launched our search for water security, did membrane technology, reverse osmosis and the Marina Barrage seem like high science? But yet today, we are drinking water, canoeing and planning for more desalination plants. Sir, when we built our first waste water reclamation plant in the '70s, it was shut down quite quickly but not before we learnt that it was possible to recycle waste water to drinking water quality. It was just not economically feasible. But if we had not known this, had we not set aside the budget and the time to try it out, then 23 years later, we would not have had Newater plants. Sir, the world is changing.”
“So I ask social enterprises to step up to ask for what they need and the Finance Minister to support them. Fourthly, enhancing our growth strategy for the future. Sir, I now have three additional suggestions to enhance our growth strategy and would the Finance Minister consider the following. On the productivity and innovation credit, where there is a cap of $300,000 per activity, can this be extended to $500,000 as additional tax relief allowance per activity? Alternatively, can the Minister consider allowing flexibility in the total $1.8 million over the five-year period with the six activities outlined as the spend for each activity may vary from one activity to another. Second, encourage the use of Singapore as events location and entertainment hub. Would he consider exempting withholding tax at such mega events? Thirdly, making a commitment to increase every Singaporean's understanding and responsibility to being environmentally friendly. To what extent can incentives be further enhanced to encourage companies and households to adopt green practices? We must ultimately ensure that whatever initiatives we have is sustainable in the long run. That is our responsibility to the future – a green and clean environment. Sir, I opened my speech by speaking about the uncertainty of a new world order and the impossibility of knowing everything. At the same time, I say we need to do the best we can with the limited knowledge that we have. So, today, I would like to speak about nuclear energy. I was surprised and intrigued by the possibility of Singapore having a nuclear power plant in the long term. This is a very bold vision and the study of this should be supported.”