Thomas Chua Kee Seng
Singapore
“Thank you, Minister. I am very glad to notice that the A*STAR programme has attracted over 700 SMEs in 678 projects. I would like to ask what will happen after the researchers finish their two-year secondment. Will these projects be able to continue after the departure of the researchers?”
“Therefore, I suggest we undertake education with a broader perspective, and give more emphasis to the development of high-quality human resources, so as to promote the future development of our economy and businesses. Funding for Postgraduate Programmes 5.15 pm”
“Even if they do not expand overseas, they have a strong social function in creating employment opportunities, and I hope the Government would not ignore them. The Government can do even more to create a more favourable business environment for micro-enterprises and SMEs.”
“For companies with the intention to upgrade but are not from the ITM sectors, will they be treated differently from those from the key industries?”
“I also urge the Government agencies under the Ministry of Trade and Industry (MTI), namely, the Economic Development Board (EDB) and Enterprise Singapore (ESG), to continue to work closely with local industries.”
“Thank you, Deputy Speaker. I would like to ask: what has been the performance of the GIP funds that are set up to invest in Singapore-based companies so far?”
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“Thank you, Minister. I am very glad to notice that the A*STAR programme has attracted over 700 SMEs in 678 projects. I would like to ask what will happen after the researchers finish their two-year secondment. Will these projects be able to continue after the departure of the researchers?”
“Also, I look forward to the leaders grasping the dynamics of industries accurately and offering them effective help. Going forward, we are ready to build a better future for the country with the new leadership team. 6.31 pm”
“The Tripartite cooperative model of workers, businesses and the Government has always been an important foundation for Singapore to keep its competitive edge and overcome all difficulties in the past and in the future. To this end, I urge businesses to actively establish a new Government-business relation. They should not just make good use of Government assistance programmes to develop their businesses, but also understand more about economic policies and provide constructive suggestions to Government agencies. Today, not only are the Government leaders passing on the baton; so too are the business leaders. Besides, there are many young entrepreneurs who are making great achievements in emerging industries, such as in technology and Internet-related industries. Whether businesses are willing to cooperate with Government policies will affect the effectiveness of national economic policies, especially in this day and age when the business cycle has been greatly shortened and companies have to look much further ahead. There is a good saying: "If you want to go fast, you go alone; if you want to go far, you go in a group." In the highly versatile market, a temporary success may be due to a single seizure of opportunity, but if you want sustainable development, businesses must build up real strengths. As Minister Chan Chung Seng has said, we must upgrade from "whole-of-Government" cooperation to a "whole-of-nation" framework in line with the country's strategy to build long-term competitive strengths. To sum up, I support the Government's policy objectives and look forward to the 4G leaders coming up with a new economic growth blueprint via the new-era Government-business relationship based on mutual trust and mutual learning.”
“Going forward, the responsibilities of the Government are to clarify the directions and allow companies full play on a level playing field and promote mutual trust with enterprises in the transformation. To this end, Governments and businesses must strengthen their mutual interactions and deepen mutual understanding. To grasp the development opportunities amid rapid changes, 4G leaders must listen to the voices of businesses, pay close attention to the developments of the industries and broaden their visions so that they can formulate pro-business policies more accurately. I remember that, in the 1990s, Singapore eliminated the garment-processing industry while developing high value-added industries. Later, the garment industry continued to develop in Hong Kong as its base, bringing about a fashion design hub and a related logistics supply chain that brought high returns. This was an opportunity we missed at the time. Therefore, when a new generation of leaders is designing industrial policies and allocating resources for development, it must canvass opinions from a wide swathe in the business community and, particularly, it must understand the links between the old and new industries. For example, Singapore’s import and export trade accounts for a very high proportion of our total economic output. In the future, we can continue to explore how to leverage these existing advantages in new circumstances. The Government can keep in touch with companies through platforms, such as trade associations and chambers, to adjust policies in line with the latest trends. Mr Deputy Speaker, when companies are creating value, they are also creating jobs. If the Government wants people to live well, they must first let businesses do a good job.”
“Businesses expect 4G leaders to be both talented and virtuous and be attentive to the lives of the people while understanding the vagaries of recent industrial developments. They are expected to demonstrate courage and determination as leaders while injecting new vitality into the economic transformation. At the same time, the new era requires the creation of a new form of collaboration between the Government and businesses which will let enterprises have a greater rein in terms of initiatives in economic development. In the early years of nation-building, due to the special political and economic situations then and the constraints of domestic education, the Government exercised full control on the direction of economic development. Today, the international market is open, information flows freely and technology keeps renewing to no end. With the spread of digital technologies such as big data analysis, it is easier for enterprises to muster resources while the trends of industries are more diversified. But the risks faced are even higher. In these times and circumstances, it is not easy for the Government to understand deeply the actual situations of various industries. Therefore, to achieve a breakthrough in economic transformation not only requires courage and resolve from 4G leaders, but also the building of a new-era Government-business collaboration that is based on mutual trust and mutual learning, which will help set free the energy of the enterprises with an inclusive mindset. For example, the Industry Transformation Maps (ITMs) promoted by the Government have already got a clear industry clustering strategy framework. Next, it is necessary for the trade associations and enterprises to be more involved and in control.”
“(In Mandarin): [Please refer to Vernacular Speech.] Mr Deputy Speaker, Sir, the focus of my speech today is: "Building a Government-business collaborative relationship in a new era that is based on mutual trust and mutual learning in order to achieve breakthroughs in transforming the economy." In outlining the Government's policy objectives, the President issued the call that the 4G leaders must boldly promote change and lead Singapore into the next development phase. The business community generally agrees with this stance and expects our country’s 4G leaders to continue consolidating the new era’s Government-business collaborative relationship which is based on mutual trust and mutual learning, and pushing for economic transformation with dynamism and resolve. In the past Singapore had succeeded many times in finding breakthroughs in economic transformation. Our first-generation founding leaders succeeded in creating Singapore’s economic miracle when Singapore struggled for survival in adverse circumstances. Their far-sightedness and precision in positioning Singapore while relying on the people's trust and support amid an extremely unfavourable environment, paid off. Ten years ago, that is, when the financial crisis erupted in 2008, the 3G leaders and the businesses confronted it together. They rolled out employment subsidy programmes and encouraged upgrading of skill to help workers keep their rice bowl, taking Singapore on a quick bound after it bottomed out amid the global economic recession. All these were acknowledged by the people. Today, Singapore is once again in an unpredictable international environment.”
“Therefore, I suggest we undertake education with a broader perspective, and give more emphasis to the development of high-quality human resources, so as to promote the future development of our economy and businesses. Funding for Postgraduate Programmes 5.15 pm”
“I would like to take this opportunity to ask the Minister, in the event when there are gaps between the needs of businesses and the training received in the IHLs, how could the two parties come together to address these gaps? The ability of our economy to sustain its growth is due partly to the business community and the Government-linked companies having sufficient top-rated talents. Taking this year's Budget as an example, the Government introduced the Net Investment Returns (NIR) framework in 2008. NIR contributed $15.9 billion to the Government's revenues this year, far exceeding the $7 billion it contributed in financial year (FY) 2009. It has become the Government's largest revenue source, outstripping corporate income tax, personal income tax and Goods and Services Tax (GST). Much of the NIR, which is based on the national Reserves, has come from the Government Investment Corporation (GIC) and Temasek Holdings. The country's investment depends on high-quality talent, they possess global perspectives, rich industry experiences, and understand deeply global economic developments. The fact that the NIR exceeds other tax revenues reflects the importance of high-end talent to our economy. In this regard, the Singapore Chinese Chamber of Commerce and Industry (SCCCI) has implemented many initiatives to study market developments in China and encouraging businesses across all sectors to broaden their vision. High-end talent can help businesses and industries to innovate and grow. In the long term, this will help contribute more towards our corporate income taxes.”
“Sir, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] The Government has increased its spending in education and lifelong learning in this year's Budget. Singapore's ageing population and declining birth rate will directly affect the structure of our workforce in the future. In view of the constraints of our small population, we have always championed the idea of everyone contributing towards one's best, and that everyone could get to use one's value and talent fully. Therefore, I fully support increasing our investments into education, and giving greater attention to raise the quality of our human resources so that our economy will continue to develop and prosper. Trade associations are willing to play an active part in this long-term plan to develop human resources. Our IHLs provide one of the key sources of business talents. The training and curriculum in IHLs should match the actual needs of the business community. In view of this, if trade associations could collaborate closely with IHLs to educate our students in accordance with the practical needs of the businesses, it would be an arrangement that produces many benefits. From what I know, in the aspect of curriculum planning, some institutions would seek views and feedback from the business community or the relevant trade associations. Such beneficial interaction is meaningful. Moving forward, we hope that the interaction between IHLs and trade associations will not be confined to merely consultation. In operationalising and implementing these training programmes, trade associations should also be invited to participate, particularly those which are willing and with the capabilities to do so.”
“In the same way, instead of channelling foreign worker levies into other areas, I would suggest that the Government channel a portion of this levy towards training of foreign workers to uplift the overall skills level of the workforce. Further, the gig economy is rapidly emerging and has become a trend to be paid attention to. To date, the number of self-employed persons has already reached 200,000. Self-employed persons do not have regular employers, but this is precisely why many employers do regard them as a welcome addition to the workforce during the current manpower shortage. This is because companies always have certain projects which need to be managed by people with special expertise or talents. If companies can find people with suitable criteria, and both parties agree to this flexible arrangement where the work is completed within a designated period, everyone would be perfectly happy. Often this is also a more cost-effective solution. Not long ago, in order to protect the rights of self-employed persons, the Government set up a Tripartite Workgroup (TWG) on Self-employed Persons to identify recommendations. The Minister for Manpower has given his in-principle acceptance of these recommendations. We look forward to having these solutions rolled out as quickly as possible. Helping to alleviate the worries of these self-employed persons and building an even stronger and balanced employer-employee relationship is certainly good news to the business community all round! Local Workforce Shortage in Sectors”
“[Please refer to Vernacular Speech.] Chairman, foreign workers form an integral part of Singapore's workforce. In many sectors of the economy, foreign workers supplement the types of functions that local workers are not equipped to undertake and, thus, perform an indispensable role in our economic development. Based on the trend of the Government's manpower policy, businesses need to bring in foreign workers with a higher level of technical proficiency. While they are working, they also need to receive continual training, particularly in an environment characterised by rapid technological advances and industry transformation. However, training requires expenses. As many enterprises are striving hard to transform, I hope the Government could support enterprises to manage these expenditures. In his speech at the Budget Debate, Mr Heng Chee How, Senior Minister of State cum NTUC's Deputy Secretary-General, emphasised that as our enterprises transform and upgrade, apart from the local workers, our foreign workers should also not be neglected. In fact, the Government need not worry too much on how to support skills upgrading of foreign workers. I would like to raise a suggestion: a portion of foreign worker levies collected could be channelled back to the business sector, to help enterprises in the training of foreign workers. This suggestion is based on the example of how the Government plans to use carbon tax in this year's Budget. In the first five years of implementing the carbon tax, the Government plans to use the tax revenue to provide more grants and support to help enterprises enhance energy efficiency and reduce emissions.”
“Even if they do not expand overseas, they have a strong social function in creating employment opportunities, and I hope the Government would not ignore them. The Government can do even more to create a more favourable business environment for micro-enterprises and SMEs. Notwithstanding their small size, this could enable them to become small but exquisite, small but nimble, small but beautiful, and small yet highly competitive. Eventually, SMEs must continue to learn ceaselessly and develop capabilities. Only then can they benefit from the Government assistance schemes. I sincerely believe that if businesses pursue excellence and strive for perfection, marshal our resources and talent, they can then find the niche for survival and development within this ever-changing marketplace! PACT and Infrastructure Office”
“Moreover, as their industry counterparts abroad do not need to be taxed in this way, local enterprises could become less competitive. We are, nevertheless, glad to know that the Government has also committed that, in the first five years of introducing the carbon tax, revenue collected would go towards giving more grants and support to companies to enhance energy efficiency and reduce emissions. I have also received feedback from some startup companies. They hope that even if profits were to be generated in the first five years of setting up the company, corporate income tax should be waived, enabling them to plough back the revenue into operations and carry out the initial phase of development without a hitch. Over the past few years, the role of industry associations in industry transformation has received sound affirmation from everyone. The Government has already announced the ITMs. Moving forward, trade associations will continue to strive hard towards the implementation! As an example, under the enhanced Local Enterprise and Association Development (LEAD) programme, the Singapore Food Manufacturers' Association (SFMA) has already set in motion a series of industry development projects for the benefit of its members. May I ask the Minister how the enhanced LEAD programme has been faring? Will other industry associations also benefit from LEAD? I noticed that this year’s Budget did not give specific mention to the SME Centres. I wonder what role the SME Centres, previously set up by SPRING Singapore, are expected to perform as we move ahead. Finally, I would like to stress that although many micro-enterprises and SMEs operate mainly in the domestic market, they do possess a very strong resolve to upgrade themselves.”
“At the same time, enterprises look forward with great anticipation to the newly set up ESG, hoping that it could achieve an outcome of 1+1 equals more than two. Besides helping enterprises to improve their competitiveness and internationalise, services provided by ESG should include coordinating manpower resources and improving technology adoption. In addition, to further support firms to internationalise, with effect from year of assessment (YA) 2019, the Double Tax Deduction for Internationalisation (DTDI) will be enhanced, with the amount of expenses that can qualify for the DTDI without prior approval being raised from $100,000 to $150,000. This would make it easier and faster for firms to apply. Businesses also welcome the launch of the ASEAN Leadership Programme. ASEAN countries have always been the key overseas markets for local businesses. This programme would be very helpful in enabling local entrepreneurs and senior management to better understand market trends. The Budget has also included the PACT scheme, the aim being to encourage partnership or collaboration among companies. One way is to let big companies help smaller enterprises improve their capability. Hopefully, local enterprises could tap on this scheme to nurture a mutually cooperative business culture and develop regional ventures together. However, some businesses have expressed concern about certain new measures. For instance, with effect from next year, the Government will implement a new carbon tax to encourage reducing carbon emissions. Although businesses realise that Singapore aims to become an even more liveable and sustainable city, and that we need to protect the environment, they are concerned about the impact on their costs.”
“Mr Chairman, in Mandarin, please. (In Mandarin): [Please refer to Vernacular Speech.] This year’s Budget affirms the important role of TACs in driving industry transformation and upgrading. Besides initiating the establishment of the Trade Association Hub, the Singapore Chinese Chamber of Commerce and Industry (SCCCI) also set up the Trade Association Committee (TACOM) led by the business community. The business community welcomes the many assistance schemes rolled out in this year’s Budget to help in uplifting the capability of enterprises. Last year, our productivity growth was 4.5%, the highest figure achieved since 2010. However, businesses are concerned, compared to large enterprises, how much have SMEs contributed to productivity growth. Just how effective have local SMEs been in upgrading themselves? In this year's Budget, the Government has introduced a new assistance scheme, the PSG. This is very different from the PIC and ICV schemes that businesses were familiar with. Basically, after approval, PSG will support 70% of the company’s productivity investment and expenses, while the company will only need to bear 30% of the total costs. What is good about PSG is that when companies have identified a suitable productivity upgrading project, they could apply immediately. This is different from PIC’s tax deduction option at year-end. Moreover, from 1 April this year, businesses could apply directly for PSG through the Business Grants Portal set up last year. This is extremely convenient. The Budget also announced that IE Singapore’s GCP grant and SPRING Singapore’s CDG would be combined under an all-new EDG. This is a good move! Moving forward, one integrated scheme could help enterprises to improve internal capabilities as well as to internationalise.”
“Gender budgeting involves analysing the Government’s annual Budget and programmes for their different impact on men and women, and then adjusting allocations and programme details to promote gender equality. Minister Heng Swee Keat replied to the question saying that in the design, planning and delivery of programmes, the Government accounts for the impact of policies on different segments of society, including gender, and target benefits at those in need and that Government policies have, over the years, enabled the advancement of women in Singapore. Indeed, they have. I read this reply positively as the Government does do some form of gender budgeting for its programmes, though it is not formalised as such. I especially like the part on targeting benefits at those in need. As I have made the case in this speech, gender equality is not just an aspiration, but a need. It is a need because, whether absolutely or relatively, the financial security of women through their career from young workers to would-be mothers to caregivers to seniors is paramount to the mitigation of neediness among our ageing population. It is a need because gender equality is one of the key upstream solutions to the downstream challenges of ageing and where opportunities for successful ageing of our seniors are shaped and forged. To promote gender equality is thus to be strategic and integrated, as this Budget seeks to be. 1.14 pm”
“The 5-room flat is a long-term asset and cannot be simply unlocked to support their everyday needs. How is the size of the HDB flat related to the provision of household support to the elderly poor? Is the tiered payout signalling to the family that they should downsize the flat to better support their seniors? I believe needy seniors should receive $750 a quarter, regardless of the size of the HDB flat where they live. The second issue is health security. Our seniors are now living longer, fruitful lives and receiving better healthcare. While women are living longer than men, women are also facing more downsides in health security than men. Senior women spend more years in disability than men, and women are two-and-a-half times more likely than men to report difficulties in carrying out typical activities of daily living. The gender-differentiated ElderShield premiums reflect this but, again, this means it compounds the gender income gap and greater financial insecurity faced by women. Senior women are also more prone to suffering from dementia and higher rates of depression, which are more home-bound diseases that compound the caregiving burdens faced by female family members. The concern is that women are caught up in an inter-generational vicious circle of caregiving and deterioration of mental well-being. We need a more targeted approach to tackle dementia and mental well-being among seniors and the general population at the national level. Mr Speaker, Sir, back in May last year, I asked a Parliamentary Question on whether the Government practises gender budgeting to determine the effect of policies on women.”
“This suggests that many seniors are working past retirement age not just because they want to, but because they had to, and many in this category are women. It does not look like this issue is going to abate in the next decade. Instead, the scale of the economic insecurity problem will increase due to the doubling of the number of seniors to 2030. I would like to call on the Government to study this issue of the elderly working poor, especially involving women, more closely and adopt urgent measures to tackle the issue. One possible line of attack would be to look at how social service and community development agencies helping to place the elderly in jobs could also help the elderly draw up favourable contracts for service and provide advice and retraining opportunities to improve their income prospects. In the meantime, the Silver Support Scheme could be enhanced to mitigate the problems faced by the elderly working poor. As many of the seniors are dependent on their spouse and children for their housing needs, we should make sure this housing dependence does not erode the efficacy of state assistance to support the needy seniors. The Silver Support Scheme payouts to needy seniors are currently tiered according to the HDB housing types they are living in. This is unnecessary as the beneficiaries of the scheme are already means-tested. A needy senior living in a 5-room flat receiving $300 a quarter and a needy senior living in a 2-room flat receiving $750 a quarter are already means-tested to be facing low household support, with a monthly income per person in the household of not more than $1,100. One may be living in a bigger flat, but they are facing the same financial difficulties of meeting their everyday needs.”
“In fact, with seniors ageing in place and in their communities, the delivery of services is most effectively achieved by leveraging the community networks of the SSOs and FSCs. I turn now to the third and last set of issues, which are directly related to the retirement security of senior women. There are two issues here I would like to highlight: economic security and health security. First, existing cohorts of elderly women and soon-to-be senior women cohorts are experiencing economic vulnerabilities. In 2016, it was reported that for those over 60 years of age, the average CPF balance for women is only 69% that of men. This gap is narrowing for younger cohorts as gender equality improves with better educational attainment by women in recent decades. However, this problem will remain with us for at least another 20 years, as the gender CPF gap is similar for those aged 45 years and above. Back in 2008, HDB found that just over half of elderly residents living in HDB flats planned financially for retirement, with women much less likely to do so. Many elderly women, much more so than elderly men, are dependent on their spouses and children for financial support and many continued to work in low-paid jobs to supplement their meagre income. One study in 2011 showed that 26% of those aged 55 years and above reported they perceived occasional or regular financial inadequacy, with more women reporting this than men. Another study estimated that the relative poverty rate among the working elderly had jumped from 13% in 1995 to 41% in 2011. This means that among the working elderly, 41% had income from work, family members and state assistance amounting to less than 40% of the median income in the workforce.”
“What this means is that while they know and are driven to care for their loved ones, the caregivers do not know how to care for themselves and tended to neglect their own well-being. Last year, during COS 2017, I asked the Government to provide better support to caregivers of seniors by setting up caregiver support centres at Senior Care Centres (SCCs). I was glad to hear from Senior Minister of State Amy Khor that the Agency for Integrated Care (AIC) has started a three-year pilot since September 2015 to embed caregiver support services in five SCCs, and that AIC had also started AICareLinks centres at five hospitals and its office at Maxwell Road for caregivers to receive advice on services and schemes. I think these are great initiatives, but we are starting from a very low baseline of no support for caregivers. There is a lot more we can do, especially given the general reticence of caregivers to seek help for themselves. I suspect the caregivers are not too forthcoming in seeking caregiver support services at the SCCs and AICareLinks centres. It may well be that we would need to use the Social Service Offices (SSOs) and Family Service Centres (FSCs) infrastructure to bring the support to the caregivers to enhance their well-being. I understand the logic to integrate health and social support for seniors under MOH and empowering AIC to be the central implementing agency to coordinate the services announced in the Budget Statement. But I hope this integration will not come at a cost to the cross-functional integration between MOH and MSF, and between AIC and the SSOs when it comes to needy seniors and vulnerable caregivers of seniors.”
“If we recognise full-time caregiving of seniors as unpaid work, then it is not far-fetched to consider them as low-wage employees who need income supplement. We should rethink the orthodoxy and provide income support to caregivers. There is already one scheme that is suited for this purpose – the Workfare Income Supplement (WIS) Scheme. WIS is means-tested and, with older workers receiving higher payments, it will ensure the benefit will go to needy caregivers. Also, since 40% of the payment is given out in cash and 60% in CPF contributions, this will help take care of the immediate financial needs and enhance the retirement needs of the eligible caregivers. The second issue is the stress faced by caregivers of seniors, which, in the worst case, can lead to depression and anxiety. Studies of caregivers in Singapore have consistently shown high stress levels among caregivers. But, there are important differences. Caregivers of seniors with dementia experience higher stress. Female caregivers of seniors, namely wives and daughters, tend to experience a lot more stress than male caregivers. These female caregivers reported feeling rundown and exhausted and experienced restless sleepless nights. Many of them reported the desire to be involved in culturally relevant recreational activities, such as a game of mahjong, but they lack the social networks to get involved. Our caregivers are a heroic bunch with strong Asian family values. Another study has shown that caregivers often report concerns about the caregiving and much less about the effect of caregiving on their own physical and mental well-being.”
“Among the three problems of lack of family support, negative financial impact and negative impact on schedule and health, caregivers rated financial impact as the heaviest burden, followed closely by negative impact on schedule and health. This is despite the fact that 49% of caregivers in this survey had the support of foreign domestic workers. The same survey shows that caregivers living in private property and, therefore, assumed to have better means, experienced lower stress, while caregivers who were working and who were facing more financial problems due to caregiving experienced higher stress. This is only one of the many surveys and studies that have shown consistent results. I think it is time we recognise that caregiving is full-time work, which prevents caregivers from realising their employment potential and affecting their financial security. How can we better support caregivers in this respect? Two years ago, during COS 2016, I asked the Government to consider giving means-tested refundable tax credits to caregivers, so that caregivers who do not work or work part-time would get some cash refund. This would lessen their financial burden and improve their retirement adequacy. Senior Minister of State Sim Ann then replied that the Government’s approach focused on direct subsidies of services to lessen the costs borne by caregivers, rather than providing cash allowances to people looking after family members. I am of the view that the two do not have to be mutually exclusive. Cash allowances to caregivers suffering from extreme negative financial impact would allow them to access the subsidised services.”
“By the time women try to return to the workforce, they face the triple challenges of making sure their skills stay relevant, discrimination against older workers and wage stagnation compared to their male peers. Last year, during COS 2017, I proposed the SkillsFuture Mommy Awards to make re-entry into the workforce for mothers less challenging. We have the social and policy infrastructure to resolve this issue. This is an area that SkillsFuture Singapore and Workforce Singapore should look into. Let me move on now to the second set of issues related to caregivers, who, like nurses, are at the frontlines of the ageing society. Like nurses, most caregivers are women. So, again, we see gender closely connected to ageing. As with nurses, getting our policy right in supporting caregivers is essential for us to successfully meet the challenges of ageing. There are two issues associated with caregivers. If we can resolve these two issues, we will be able to support a strong body of caregivers who would form the bedrock of our silver care system, close the loop between healthcare and community care, and allow our seniors to successfully and actively age in place. The first issue is recognition and reward for unpaid caregiving. It was estimated that there were over 210,000 caregivers in 2004. The numbers should have gone up by now. This is not a small number, as it represents around 10% of our resident workforce. In a national survey of informal caregiving of older adults aged 75 and above presented in 2013, only 55.6% of the caregivers reported that they were working full-time or part-time and the caregivers reported they spent an average of 38 hours a week in providing care.”
“Second, it has been a longstanding fact that most nurses are women, which has entrenched the perception that nursing is a female occupation. This gendered composition and perception of nursing will continue to exacerbate the supply shortage of trained nurses. Increasing the wages of nurses will kill several birds with one stone. As most nurses are currently women, increasing the wages of nurses will help close the gender pay gap. It will also signal the increased social value and respect that is attached to nursing; that nursing is far from being a low-skilled job; that, on the contrary, nursing is an especially precious skillset for the ageing society. We all know that nursing is a very demanding job. It is emotionally straining, time consuming, especially with the shift work and overtime, and is also physically draining. Increasing the wages of nurses will make the remuneration more commensurate with the passion that is demanded of nurses. Increasing the wages of nurses will also help to shift the mindset over time, so that more men would take up the calling and not be put off by the opportunity cost of higher pay for men in other professions. Another issue related to the gender pay gap is the income security and prospects of women who have become mothers. Part of the reason for the gender pay gap is linked to women returning to the workforce after taking a prolonged break due to pregnancies or childcare responsibilities. Little recognition is given by employers and the Government to the years women spent in service to the family and to the nation to bear and raise children, unlike men who are often given a salary premium for the two years spent in National Service. The current emphasis on lifelong learning and continuous retraining exacerbates the issue.”
“It is also a sector that is, arguably, the most susceptible to what Minister Ong Ye Kung has noted as a key factor underpinning the gender pay gap, that is, the social norms and expectations placed on women. Minister Ong called for a mindset change. But this is also a structural issue. The crux of the matter is nursing. Nursing makes up the bulk of the health and social service sector and most nurses are women. Nursing is also in high demand because of ageing. A strong professional body of local nurses is essential for us to successfully meet the challenges of ageing. For many decades, there has been an erosion of status and value attributed to nursing, which culminated in the 2013 Population White Paper footnote mistake in classifying nursing as a low-skilled job that is difficult to offshore. The apology and correction from Deputy Prime Minister Teo Chee Hean then was swift and right, and I believe there has been a narrowing of the prestige gap between nursing and other professions since 2013. But there are still two other associated issues. First, while wages for nurses have been improving, there is still a lag. Based on mid-2016 data from MOM, the median gross monthly income from work of all full-time employed residents is $4,056, while the figure for nurses is $4,300. This is a ratio of 1.06. This is not too different from similar ratios for OECD countries. However, when compared to small countries with a similar demand profile for nurses, we are behind. For example, the ratio in Israel is 1.4. In Australia, where ageing is also a major challenge for society, the ratio is 1.2. Given the high demand for nursing because of our ageing society, there is scope to further increase the wages of nurses.”
“Our policies targeted at ageing must factor in the gender differences for them to be effective. I focus on three sets of issues, namely, issues related to the gender income gap, issues with supporting caregivers and the economic and health security of seniors. Let me start with issues related to the gender income gap. A study using data from MOM last year showed that the gender pay gap has not improved in the decade from 2006 to 2016. The gap in median monthly income between male and female has remained at around 18% to 19%, with women earning some $610 less than men. It is unacceptable that we have not made any progress in closing the gender pay gap in 10 years. We need to tackle the gender pay gap because it will affect our future senior women and their retirement security. Already, women are living longer than men and CPF LIFE is structured in such a way that discriminates between gender, with women paying a higher premium and getting less payouts. The gender pay gap has, therefore, a compounding effect on the retirement security of women. Using the CPF LIFE Payout Estimator on the CPF Board website, my estimate is that, on the average, men will be getting 25% more income than women from CPF LIFE due to the gender pay gap. The gender pay gap varies across sectors. There has been some attention on the gender pay gap in the finance sector and in senior management, but I think we should actually pay more attention to the majority of our women workers who are labouring in other sectors. Health and social service is still a sector that has one of the largest gender pay gaps, with women earning around $1,540 a month less than men. The health and social service sector impacts ageing and our seniors the most.”
“Transformation is like stretching the body, where periodic pains are unavoidable. There is no guarantee that transformation will definitely succeed, but not transforming means certainty of elimination. There is another Budget measure that is welcomed by businesses. Businesses passionate about charity have always enjoyed support through Government policies. In the last two years, donations to Institutions of Public Character (IPCs) are entitled to enjoy 250% of tax deduction. This deduction was originally supposed to cease at the end of this year. It is now going to be extended for another three years to encourage more companies to give back to society. Some businesses hope the Government could take a further step to raise the deduction to 300%. This could encourage even more people to make generous donations, contributing both money and effort to build a more caring and united society. At the start of a new year, the Government has introduced a Budget that is strategic and with a long-term vision. Following this, it will require all the stakeholders in the society to proactively take action to execute all the measures that have been introduced. 12.55 pm Assoc Prof Daniel Goh Pei Siong (Non-Constituency Member): Mr Speaker, Sir, this Budget marks a significant progress from a wait-and-see posture to strategic and integrated planning to engage three major shifts affecting Singapore’s future. I focus on ageing here. I highlight that ageing is not uniformly experienced, and that men and women experience ageing and are affected by ageing very differently. There are, therefore, gender inequalities we need to tackle if we are to meet the challenges and opportunities of ageing successfully.”
“Come 2026, the surge in north-bound traffic could be even higher, as the Singapore-Kuala Lumpur High Speed Rail is projected to be operational by then and there will be many convenient places to shop along the route. The Government has also announced that in two years' time, businesses that purchase imported services from overseas would also have to pay GST. To local businesses that provide similar services, this is a long-awaited equitable measure. According to the Department of Statistics, Singapore imported close to S$225 billion worth of services in 2016. This is a significant figure. Such purchases include software applications and a variety of Business-to-Business (B2B) services, including accounting and IT. On the other hand, once this GST is levied, many purchasers, especially SMEs, will face pressure arising from an increase in their operating cost. However, on-line transaction of services is a complex matter. Whether it is the provision of services through the B2B or B2C model, there is a likelihood that charges from both ends may exploit technical or policy loopholes to gain an advantage in areas, such as during the transaction, the computation of tax assessment and tax rebate. There is a need to strengthen supervision in theses aspects. Mr Speaker, the best approach to achieve 开源节流 is to assist our enterprises to grow. Only when our companies thrive and develop, they could then contribute more to Government revenue. The Government has continuously been helping our companies to transform and upgrade. Next, companies themselves have to be more proactive to push the pace of transformation and innovation. Workers need to learn new knowledge, new skills, while bosses must use a new mindset to develop new markets.”
“Hence, mobilising resources from the society to continuously obtain funds to finance such construction is a wise decision. The other manifestation is to moderate the pace of Ministries’ budget growth. From FY2019, the rate of growth for the block budgets of Ministries will be reduced from 0.4 times of GDP growth to 0.3 times. As Singapore is already an ageing society, there will be more and more areas that will require spending in the future. We need to stringently control Ministry spending, monitor closely the policy implementation processes, plug loopholes in the abuse of Government resources, raise the quality of public projects and avoid the vicious cycle of problems arising from Government spending and then having to spend more money to resolve problems – this is truly how 开源节流 could be meaningfully carried out. As for the adjustment of the Goods and Services Tax, this has been widely speculated before. It turned out that the Government would not immediately raise the GST, but would do so at least three years later, giving sufficient time to businesses and consumers to adapt. I would like to convey the views of some smaller retailers, particularly those from the northern part of Singapore. They are worried that following the GST increase, many consumers will swarm into Malaysia, particularly Johor Baru, to shop for daily products. These retailers believe that this is very likely to happen because the Singapore-Johor Rapid Transit System Link will start operating in 2024. With the ease of travelling, more convenient customs clearance, easier conveyance of goods and the strength of the Singapore dollar vis-à-vis the Malaysian ringgit, the lure across the Causeway would only grow greater.”
“Mr Speaker, Sir, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Mr Speaker, Members of Parliament, good afternoon! Today, my topic is: a strategic and long-term Budget which helps businesses grow sustainably. A key highlight of this year’s Budget is that it materialises the framework promulgated by the Committee on the Future Economy through the introduction of a series of targeted measures to assist businesses. Before announcing this year’s Budget, the Government had widely sought views and feedback from trade associations and chambers. The various measures now introduced by the Budget have matched the expectations of the business community. This year’s Budget is very far-sighted, as it is making preparations for a better future. Going forward, Singapore will increase public expenditure in healthcare, security, long-term infrastructure and education. We believe our people and businesses will benefit from public spending in these areas. When I listened to the Minister for Finance as he delivered the Budget Statement, what I thought about the most was the question of how we can increase our revenue sources while curbing our expenditure, 开源节流 in Chinese. I am glad that the Government will, hence, observe the principle of 开源节流 when constructing large-scale infrastructure. Because such investments are huge, the Government is looking at allowing Statutory Boards and GLCs, like LTA, to fund them by borrowing or issuance of bonds, in order to avoid tapping into the national reserves. The Government is also considering providing guarantees for long-term borrowings for such infrastructure. As a country with no natural resources, our reserves are like a financial linchpin that provides the country stability and should not be tapped into so easily.”
“For companies with the intention to upgrade but are not from the ITM sectors, will they be treated differently from those from the key industries? Fourthly, will the plethora of Government assistance schemes continue to exist, or will they be streamlined and reclassified according to the needs of enterprises at different stages of their development? Apart from these, businesses also hope that the new agency could continue to work closely with EDB. As EDB attracts foreign investors, it could also provide opportunities for local enterprises to be part of the industry supply chain and collaborate with MNCs. I hope that the merger of these two Government agencies could lead to a more effective operation, creating a “one plus one, greater than two” effect, helping local enterprises to grow, and creating even more quality job opportunities for Singaporeans.”
“Currently, SMEs are stepping up their transformation process and working hard to keep abreast of national economic growth. In the new economic environment, the Government is adjusting its structure by setting up a dedicated agency to help develop local enterprises. In this regard, the newly set up Enterprise Singapore Board will have a heavy responsibility and a long road ahead. Previously, IE Singapore and SPRING Singapore helped local enterprises via two different routes. While IE Singapore’s mission was to lead larger local enterprises in expanding overseas, SPRING Singapore was responsible for helping SMEs improve their capability. Businesses are now concerned about how the new agency would operate after 1 April. How do our businesses deal with this new agency? What kind of new experiences will they have? I take this opportunity to share some views of the business community. Firstly, after the merger of the two agencies, how would it be reorganised in terms of the customers and resource allocation? How would the new agency take care of different industries and the needs of enterprises of different sizes? Secondly, among the 180,000 local enterprises, small and micro-enterprises make up the majority. Would they be an important part of the agency’s customers? How would MTI set key performance indicators (KPIs) for the officers? In assessing their work performance, would they be evaluated based on the economic value-add of the industry under their care, or the size and number of companies they have helped? Or would it be based on other performance indicators? Thirdly, when companies which fall within the ITMs and those from non-ITM sectors approach the new agency for assistance, will they be given different priorities?”
“In Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Mr Deputy Speaker, Sir, first, I would like to declare that I am the Vice-Chairman of the Singapore Business Federation (SBF) and the Immediate Past President of SCCCI. Sir, I support the Enterprise Singapore Board Bill. This Bill provides the legislative basis for the official merger of IE Singapore and SPRING Singapore on 1 April. This shows that while the Government urges industries and businesses to transform, it is also actively playing a leading role. I recall that in 2009, SCCCI proposed eight recommendations to the Economic Strategies Committee on behalf of the business community. One of the recommendations was to set up a Statutory Board to provide one-stop services for enterprise development, streamline its processes so that companies do not have to go back and forth among the various Government agencies. Today, eight years after raising the recommendation, we are finally seeing the establishment of the Enterprise Singapore Board. This is good news, indeed. We applaud the Government for heeding the recommendations of the business community and certainly look forward to this new agency. When the World Economic Forum recently announced its 2017-2018 Global Competitiveness Report, Singapore came up third in the global ranking. However, the competitiveness and capabilities of local companies, including SMEs, are not amongst the top three, ranking behind their counterparts in Switzerland, Germany, Hong Kong, Taiwan, Malaysia and other economies. This ranking showed us that in terms of transformation and innovation, there is still a lot of room for our local enterprises to improve.”
“I also urge the Government agencies under the Ministry of Trade and Industry (MTI), namely, the Economic Development Board (EDB) and Enterprise Singapore (ESG), to continue to work closely with local industries. We hope that EDB, whilst continuing to attract high quality foreign investors into Singapore, would also make capability upgrading of local enterprises a key objective – to provide MNCs and local enterprises with a win-win collaborative model to become the driving force of Singapore’s future economic development.”
“The amended Bill would enable stronger auditing and oversight of the tax incentives. This is good for our taxpayers. Also, I would like to ask the Minister if the current amendment to the Bill was spurred by an increase in the number of errant cases in recent years. Of greater concern to businesses is that the value-add effect on local companies brought about by such tax incentives to attract foreign investment seems to have waned. Quite a number of businesses have told me that they miss the Local Industry Upgrading Programme (LIUP) which was phased out in 2010. The programme, extremely useful then in promoting win-win collaboration between foreign investors and local enterprises, continues to be well-regarded today. In the earlier years, foreign companies which invested in the traditional sectors here could generate significant opportunities and value-add for related or supporting local companies both downstream and upstream and create direct and indirect employment opportunities for Singaporeans. However, in recent years, most of the MNCs attracted to Singapore are in the emerging sectors which establish their regional headquarters or R&D centres here. The activities which can create value-add for local companies, such as product design, manufacturing, industry supply chain and distribution are, however, located in other countries in the region. It is no longer easy for local enterprises to take the local advantage in becoming service providers for the MNCs like before. Therefore, our small and medium enterprises (SMEs) should step up venturing overseas, in line with the Government policy to encourage businesses to internationalise. They can then continue to service the MNCs which have established production bases in the region.”
“Mr Speaker, Sir, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Mr Speaker, I support the amendment of the Economic Expansion Incentives Bill. Timely changes in tax incentives would enable Singapore to maintain its global competitiveness and attract even more multinational companies (MNCs) into Singapore to contribute to our national economy. Today, I would like to share my views regarding the proposed amendments from two perspectives – that of the business community, as well as of taxpayers. MNCs and local enterprises are the two large engines which steer Singapore’s economic development. MNCs which come to Singapore, besides directly creating employment opportunities, also spur the development of related industries. Some local companies have leveraged the opportunities of collaborating with MNCs to improve the technology content of their products and services and have gradually become world-class companies. This win-win collaborative model is the outcome businesses look forward to most. After going through the Bill, I would like to focus on one new content in particular: the new section 97ZHA states that after companies have successfully applied for the IIA, in the event that they fail to comply with any term or condition as specified, or the outcome indicators, not only will the tax incentive be terminated, the Government can also recover this particular investment allowance already given. This amendment is very timely. Recently, the Government has mentioned many times that Government expenditure would steadily increase, and that we need to explore new sources of income and curb expenditure. One of the ways is to strengthen the supervision of tax incentives and guard against abuse.”
“Given the stiff global competition for business talents and investors, how does Singapore's business talent attraction scheme, such as the GIP, compare or compete with those from other countries, for example, Hong Kong?”
“Thank you, Deputy Speaker. I would like to ask: what has been the performance of the GIP funds that are set up to invest in Singapore-based companies so far? And, if GIP investors are required to invest in only companies in designated sectors, for example, medtech, aerospace, logistics, infocomm, and so on, what have been the significant contributions of these companies to our sectors to date?”
“This is a good initiative worthy of being emulated by other trade associations. My third topic is specific business hub activities. Amongst the 25 tax measures that have undergone changes in this Bill, quite a number are refinements to the existing tax incentives for specific business hub activities, including infrastructure financing, project financing, commodity trading, maritime, finance, insurance and aircraft leasing. The booming development of these industries can also push the development of the other sectors. The hottest topic these days is the “One Belt, One Road” initiative, the key of which is the interconnectivity of infrastructure, finance and trade. Being the major transportation, financial and trade hub for the region, coupled with its superior geographic location and favourable tax incentives, Singapore has attracted many foreign businesses and multinational corporations to invest in Singapore and use Singapore as a base to offer their products and services to reach an even larger regional market. This is the trend and I hope local companies can grasp these opportunities. Since local businesses are familiar with the Association of Southeast Asian Nations (ASEAN) markets, and have extensive connections, they can, therefore, work with Chinese companies and explore third-party markets together. Mr Speaker, Sir, these are times where opportunities and challenges co-exist. In the new economic order, our local businesses need to leverage on their strengths and incorporate external resources. It was with this positioning that our Pioneer Generation successfully created an economic miracle. Today, we can leverage the same positioning and open new doors for Singapore’s future economy.”
“SMEs can continue to work hard and plough the tax rebate into improving their business processes and uplifting their competitiveness. My second topic is tax deduction to encourage collaboration in R&D. After amendment, the Government will adopt the “safe harbour rule for expenditure covered by cost sharing agreements”. With this amendment, the Government will liberalise the tax deduction process for R&D projects involving cost-sharing agreements. Last year, the SCCCI undertook a study that looked into the innovation efforts of SMEs. Less than one-third of SMEs committed resources into innovation. Amongst these, close to 40% rely on their internal resources to innovate. Collaborating with external research institutions is rare. Between businesses and research institutions, one understands the market, while the other specialises in deep technical research. Each should play to its own strengths, complement each other and achieve a win-win situation. SMEs lack research talents. Hence, they need to leverage external resources to strengthen their R&D abilities. I believe that liberalising the tax deduction process for R&D projects will encourage more SMEs to actively collaborate with research institutions. In this area, trade associations can play a leading role to encourage their member companies to collaborate on undertaking innovation and R&D. For example, the Singapore Food Manufacturers’ Association (SFMA) initiated the “Great Singapore Food Gifts Award” three years ago, encouraging local enterprises to develop innovative food concepts and improve in their creative packaging. Recently, the SFMA also launched the “Food Innovation Product Award”, enabling food manufacturers and tertiary students to collaborate and co-create new and innovative food products.”
“(In Mandarin): [Please refer to Vernacular Speech.] Mr Speaker, this amendment Bill provides the legislative basis for the various tax incentives announced during this year’s Budget Statement. I support the amendment. I would like to share my views on three points: corporate income tax rebate, tax deduction for R&D projects, and tax incentives for specific business hub activities. The first pertains to corporate income tax rebate. The Government has raised the corporate income tax rebate cap from $20,000 to $25,000, with the rebate rate unchanged at 50%. The rebate will also be extended by another year till YA2018. This measure aims to help businesses cope with the challenges of economic uncertainties and the ongoing economic restructuring. In order to upgrade, small and medium enterprises (SMEs) would need capital in different areas. Recently, I had a chat with a boss in the food and beverage (F&B) and food processing industry. He said that in the current business environment, it is not enough to just have tasty food. F&B business also need to set up a central kitchen or adopt automated production and compete on who has better selling points, such as a robot chef. Companies need to invest more in R&D. However, where does the money come from? Based on the Singapore Chinese Chamber of Commerce and Industry’s (SCCCI's) “Annual Business Survey” this year, amongst the 700-plus respondents, two-thirds indicated that this year’s business revenue remained stable or witnessed slight improvement, compared to last year and 55% said profits were either maintained or increased. There are more areas where money is needed than areas from which money can be generated. Therefore, the corporate income tax rebate this time is very timely.”
“At the same time, I also appeal to the Government to provide substantive assistance to this group of tenants, helping small and micro enterprises to transform so that, in time to come, they could find a suitable space amongst JTC's many industrial properties.”
“All along, HDB's industrial tenants have been SMEs, and are mostly family businesses in the traditional industries. On the other hand, many of JTC's tenants are medium to large manufacturers and MNCs. I have brought up in Parliament many times that policies cannot adopt "the one-size-fits-all" approach. We hope that JTC could make relevant decisions based on the needs of different customer groups. While evaluating and planning for the allocation of industrial land and factory space, besides considerations, such as the pace of industry growth and economic contributions, we do hope JTC could also consider the social functions of traditional industries. The ultimate value of these traditional industries lies in their being able to exist well to serve the public at large. Hence, I do hope JTC would continue to set aside and provide smaller-size industrial units and space with more affordable rentals for the micro and small enterprises, to enable these family businesses and traditional industries to carry on their businesses from generation to generation. These enterprises are more willing to provide employment opportunities for older workers, which is a key factor in maintaining social stability. Finally, I appeal to all existing industrial tenants of HDB to adopt a positive mindset to adjust to their new landlord, make good use of this opportunity to actively upgrade their business models, and operate traditional industries with a new mindset. We could breathe new life into traditional industries. New opportunities will arise when we incorporate digital technology into traditional businesses.”
“In the first quarter of next year, factories in the heartlands will still remain, but the landlord would have changed; officers are the same, but they would have a different boss. JTC's land use is based on "economic benefits" and "economic value-add". Tenants are concerned that under the management of the new landlord, could the longtime practice of "discussion and reach a compromise" become negotiations purely based on "business considerations"? Everyone hopes that JTC could continue to be empathetic, offer a helping hand, and look after the ecosystem of the heartlands. Before embarking on any major restructuring, we hope JTC could also carefully consider the indirect impact of the newly amended clauses, especially the impact on the livelihood of the employees of SMEs. Secondly, after the transfer of factory space, will the rentals go up? JTC stated that "after the transfer of industrial properties, the lease terms of industrial tenants would remain unchanged". However, after the lease terms are up, would JTC apply a different set of criteria to determine rentals? Would the renewal of rentals treat the above-mentioned "economic benefits" and "economic value-add" as a priority? Over the long term, demolishing and redeveloping factories are an inevitable trend. Otherwise, it would be very difficult to realise the overall objective of "integrated planning". However, many neighbourhood hawker centres see their rental and food prices go up after renovation. Tenants are understandably worried that any renovation or redevelopment would cause rentals to soar. This would not only raise their overheads but also increase the cost of living for the public. Thirdly, how do the "small fish" co-exist with the "big fish"?”
“Mr Speaker, Sir, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Mr Speaker, after examining this Bill in detail, I support the JTC (Amendment) Bill. The main purpose of this amendment is to transfer all the industrial units and industrial land leases currently managed by HDB, to JTC in the first quarter of next year. According to clause 5, section 38 of the Bill, after the transfer, all those HDB employees responsible for managing the industrial properties will be transferred to JTC. Moving forward, all existing industrial tenants will be able to liaise with the same group of officers, assuring the tenants of service continuity. After consolidating all resources, JTC can be more effective in comprehensive planning for its industrial districts and integrating the whole value chain. This is a very good initiative, indeed. At this time, I would also like to highlight three areas of concerns from businesses, and hope that the Minister and JTC could pay attention to them. Firstly, will there be changes in the land use policy in the future? HDB comes under the Ministry of National Development (MND) and is mainly responsible for public housing projects and creating a quality living environment for Singaporeans. The industrial properties and space provided by HDB also create employment opportunities close to home for many HDB residents. The relationship between many tenants and HDB is "Neighbours first, landlords second". JTC, however, is a Statutory Board under MTI and is mainly responsible for developing industrial infrastructure facilities and promoting high value-added industrial development to propel the sustainable growth of Singapore's economy.”
“Even more disastrous is that when other people cast aspersions on our own country, we choose to keep quiet or avoid replying, unwilling or not daring to come forward in defence. This red passport is accepted worldwide because it symbolises the transparency and reliability of Singapore's political system. If Singaporeans cannot respect ourselves, lose self-respect, lose trust in our own country's political system, how can we expect to earn respect from others? Some businessmen have complained to me that recently, whenever they meet business partners abroad, they are always being queried about this dispute and are nonplussed about the appropriate way to respond. I think everyone should stand up and bravely defend the dignity of our nation and our leaders. Singaporeans should demonstrate this patriotic spirit. Mr Deputy Speaker, we cannot allow such propaganda to continue, which would only sow seeds of discord and bring humiliation to our fellow men. Putting national interests above personal honour − this is the most precious value and legacy left behind by Mr Lee Kuan Yew.”
“Coupled with domestic and external threats from extremist groups, we deeply believe that the Prime Minister and Ministers would continue to put national interests as their top priority. I recall that two years ago, here in Parliament, I gave an eulogy at a tribute to Founding Prime Minister Lee Kuan Yew. I said that "the most valuable legacy that Mr Lee Kuan Yew has left behind is the nation, system and political ideology that he forged together with his comrades". We should endeavour to make it even better, enabling the task of nation-building that he had struggled to achieve in his lifetime to flourish. Over the past five years, I had had the opportunity to get involved in the work of restructuring the Singapore economy, from the initial National Productivity Council, to the Council for Skills, Innovation and Productivity, and to the present Future Economy Council. I am deeply aware that economic transformation is not easy, especially since the global economy is in a state of flux. At this time, it is even more critical for the Government and the people to stay united in purpose. Fifty years of nation-building have enabled fellow Singaporeans to enjoy the benefits of economic growth and stability in our society. As we carry Singapore passports, we feel a great sense of pride for our country wherever we go. However, during this period, Singapore has become the target of sensational news. We should not carry our Singapore passport in one hand and go around the world to open up our minds or seek business opportunities and enjoy the convenience and respect from every country, and yet, on the other hand, cast doubts and distrust on our country's political system.”
“Mr Deputy Speaker, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Over the past few weeks, Singapore has become the talking point around the world. However, the reason for this undue attention really makes us feel very uneasy and helpless. Some people take this opportunity to utter all kinds of things, hoping that everything would become chaotic. Even more Singaporeans feel most dismayed by this development, not wishing to see the image of our country and the dignity of our leaders tarnished as a result. Singapore has transformed from a small fishing village into an independent and developed nation, becoming one of the most competitive cities globally. This did not occur by chance, but derived from the far-sightedness of our Pioneer leaders, the citizens' unity and hard work, the Government's diligence and pragmatism, making all efforts to maintain social cohesion and promote economic development. Presently, the world is not really at peace. Many countries around the world are facing all kinds of problems, and Singapore is no exception. In the past, we have also encountered setbacks, but our people believed that an open and transparent political system and a government which is administratively robust, would enable everyone to overcome difficulties together. An ancient saying goes that an honest and upright official finds it hard to judge domestic affairs, as every household experiences its own specific problems. I am not making any judgements, but I do love my country and respect our Pioneer leaders even more. In this constantly changing international order, Singapore's economic restructuring has entered a difficult period.”
“Hence, businesses hope that the Government can expand the protection scope and protect companies in the "non-essential service" areas as well, so that they do not become the target or victim of cyberattacks or transboundary crimes. In this way, these amendments could benefit a broader base of the business community and the interests of industry groups and economic entities. New technologies produce new conveniences, as well as new risks and new loopholes. I support the Government's move to regularly amend related security regulations to ensure that national, individual and business interests are not compromised. Moving forward, safeguarding cybersecurity is everyone's responsibility and is a topic everyone should be concerned about.”
“Hence, I hope that in designing the platform, the Government would place the priority on cybersecurity. Amendments to the Act involve sensitive information which needs protection, such as essential services like energy, water supply, banking and finance and transportation. NTP is one of Singapore's most important trade infrastructures in the cyberworld and ought to be in the scope of cyber protection. I would also urge businesses to pay heed to the newly amended Bill, especially in the newly inserted section 8B on criminal offences: anyone who obtains, retains, sells, creates, supplies or uses whichever method to commit computer-related offences, or deliberately allows these products to be used, would be committing an offence. Hence, moving forward, businesses must be much more vigilant when they are buying or selling products, to avoid being made use of unwittingly. I would like to recommend more clarity during implementation. For instance, how can businesses prove that their actions are legal and aboveboard? Will there be a relevant agency to provide guidance to businesses and will we set up an enforcement agency to monitor the implementation of this clause? As the amended Bill would strengthen the protection of national and individual interests, then digitalisation entails a large injection of capital, manpower and resources. The Government may feel that businesses should be responsible for their own cybersecurity. However, when cyberattacks cause a certain degree of harm to "enterprises engaged in non-essential services", it would also involve public interests and deserve legal protection.”