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Dear Editor,
I refer to the Today’s report, “4G team to refresh social compact, develop ‘Forward Singapore’ agenda for next decade and beyond: Lawrence Wong” (May 1).
The newly elected 4G leader, Lawrence Wong had clearly outlined in his May Day Rally’s speech that refreshing the social compact will be a major undertaking of his 4G team.
It is heartwarming to learn that Lawrence Wong wishes to collate and study feedback from unions, the people and private sectors on the economy, healthcare and housing, among others.
Social Compact between Government & People
As clearly defined by the Ministry of Social and Family Development (MSF) official website: A Social Compact is an implicit agreement between the Government and the people on the roles and responsibilities each plays so that together we can shape the growth of society in both the present and the future.
Exploring, analysing and understanding the needs, aspirations, anxieties, and plights of the people, especially the poor and the vulnerable ones become extremely critical for the Government when it comes to formulating, improving or adjusting its national policies. Thus, it should be the way to perceive them as the prime drivers to excel the nation forward and climb to another height.
Overcoming Economic Challenges
As highlighted on the website of the Monetary Authority of Singapore, there is considerable uncertainty around the global macroeconomic outlook, with the trajectory of the pandemic remaining a risk. Besides, global inflation is expected to rise further to 3.3% in 2022, etc.
As we all know, Singapore is one of the global financial hubs and a cosmopolitan city. Its economy and social fabric are unavoidably affected by such dynamic and volatile challenges. How would Singapore overcome all these difficulties is indeed the reflection and test of our 4G leaders’ wisdom, resilience, and resourcefulness.
Prioritizing Solutions for Unemployment
As a concerned parent, I am worried about how could PAP Government help our young generation secure jobs in this highly competitive working environment and tight employment market as well as expand their career prospects after their graduation from higher education institutions while Singapore is facing a severe talent crunch, and globally competing for tech-focused talent.
Hence, it is of utmost critical and significance for our government to prioritize, focus and tackle the complexity of structural unemployment and retrenchments, as well as consistently promote skills upgrading schemes and knowledge-based technology to upgrade, and uplift the entire workforce. Simultaneously, attract and balance the right number of foreign talents to supplement our workforce.
Singapore’s overall unemployment remained at 2.2 per cent; resident unemployment, 3 per cent; and citizen unemployment, 3.1 per cent, according to MOM’s monthly unemployment report for May. However, it is also important for the Government to help those retrenched or unemployed citizens, inclusive of PMETs to be re-employed as soon as possible.
Strengthening the Currency
In addition, it is extremely vital for the Government to institute contingency plans and consolidate its long-standing capabilities to uplift the economy, consistently improve the quality of livelihoods of all citizens and overcome these rapidly evolving economic challenges.
For example, if the MAS could further strengthen our Singapore currency, it would certainly help our importers to bring down the costs of imported goods and services. Also, it would offset the rising costs of inflation. Eventually, it is effective to cascade downward and eases the costs of living for every household.
Tackling Rising Prices
At present, many mediums, and low-income households still struggle hard and find ways to make ends meet so that they are able to put enough food on their dining tables amid the rising food prices, utilities bills and transportation charges.
In the eyes of the public, it is the Government’s obligation to take bold and pragmatic actions for tackling the globally soaring oil, energy, and food prices and the adverse effects of a tight supply chain.
GST Waiver
Besides, it is key for the Government to consider the waiver for GST or maintain the GST status quo for the essential staple foods, (India is going to do it for 215 items) such as rice, flour, milk, milk powder, cooking oil, eggs, cheese, potato, fish, chicken, and sugar. Doing so will greatly alleviate the escalating cost of living encountered by the people.
I deeply believe these strategic measures or suggestions highlighted above will enhance the productivity of our workforce, and be able to maintain stability and vibrancy of employment, as well as fortify our GRP growth.
End of the day, the people will appreciate the merits of the Government, and thereon, both parties can further strengthen the mutual trust and bonding so that we can look forward to an understanding, cohesive society and a prosperous, sparkling Singapore.
Teo Kueh Liang
The views expressed here are those of the author/contributor and do not necessarily represent the views of The Independent Singapore.