Good quality growth needed to have good jobs: Grace Fu
Updated 09:46 PM Oct 23, 2012
by Imelda Saad Aziz
SINGAPORE - The country needs good quality growth for all segments of society to have good jobs and wages, Minister in the Prime Minister's Office Grace Fu reminded young Singaporeans today.
Speaking to about 200 students and staff from tertiary institutions at a dialogue organised by the Institute of Policy Studies, she told her young audience that they can wish for good things, but the economic conditions need to be right "to get the better things in life".
Most in the audience were Gen Y - those in their 20s. The dialogue was meant to get young Singaporeans thinking about the kind of Singapore they want to see in 2050.
Ms Fu said quality growth remains important for Singapore as it helps sustain social spending.
And to maintain economic vitality, Singapore needs a steep improvement in productivity with a calibrated inflow of foreign workers to address the shrinking labour force.
Students MediaCorp spoke with said they are optimistic about the future but they voiced concerns about having too much focus on economic growth at the expense of a better quality of life.
Nurhana Shariff, a final-year student at the Nanyang Polytechnic, said: "What students think nowadays is: why can't I get the life I want somewhere else where it's not as competitive or as stressful, as fast-paced as Singapore is nowadays?"
Ms Fu said a good quality of life is something Singapore should strive for.
"While we can talk about living condition and the better quality of life we all aspire to, don't forget this very basic part, that we still need good jobs, and we still need a vibrant economy. These are important issues," she said.
"Economic vibrancy of the country remains an important political consideration for us. But we are also hearing the views that they want to have work-life balance, like to see better living environment as well.
"There's a lot of concern about whether our infrastructure is able to cope. Definitely (this is) an important issue for us to address and we have to plan ahead for it," added Ms Fu.
"So, good jobs, vibrant economy, but good living environment, good quality of life is what we should strive for."
Senior Fellow at the Lee Kuan Yew School of Public Policy Donald Low said the Government may need to re-look the current strategy of reserve accumulation when the population is aging rapidly.
But Ms Fu cautioned against committing too much for the future.
She said: "I think that we should continue to help the lower income and I think we can do more but we have to be careful not to over-extend ourselves.
"I think we do not want to mortgage our future away, so it has to be in a financially sustainable manner."
Ms Fu called on young Singaporeans to participate in the National Conversation on Singapore's future.
But even as they do that, she urged them to consider the interests of other stakeholders - less skilled Singaporeans who do not have the same options as them, and future generations who will have to live with the outcome of the decisions made today. CHANNEL NEWSASIA
URL http://www.todayonline.com/Singapor...ity-growth-needed-to-have-good-jobs--Grace-Fu
Copyright 2012 MediaCorp Pte Ltd | All Rights Reserved
Updated 09:46 PM Oct 23, 2012
by Imelda Saad Aziz
SINGAPORE - The country needs good quality growth for all segments of society to have good jobs and wages, Minister in the Prime Minister's Office Grace Fu reminded young Singaporeans today.
Speaking to about 200 students and staff from tertiary institutions at a dialogue organised by the Institute of Policy Studies, she told her young audience that they can wish for good things, but the economic conditions need to be right "to get the better things in life".
Most in the audience were Gen Y - those in their 20s. The dialogue was meant to get young Singaporeans thinking about the kind of Singapore they want to see in 2050.
Ms Fu said quality growth remains important for Singapore as it helps sustain social spending.
And to maintain economic vitality, Singapore needs a steep improvement in productivity with a calibrated inflow of foreign workers to address the shrinking labour force.
Students MediaCorp spoke with said they are optimistic about the future but they voiced concerns about having too much focus on economic growth at the expense of a better quality of life.
Nurhana Shariff, a final-year student at the Nanyang Polytechnic, said: "What students think nowadays is: why can't I get the life I want somewhere else where it's not as competitive or as stressful, as fast-paced as Singapore is nowadays?"
Ms Fu said a good quality of life is something Singapore should strive for.
"While we can talk about living condition and the better quality of life we all aspire to, don't forget this very basic part, that we still need good jobs, and we still need a vibrant economy. These are important issues," she said.
"Economic vibrancy of the country remains an important political consideration for us. But we are also hearing the views that they want to have work-life balance, like to see better living environment as well.
"There's a lot of concern about whether our infrastructure is able to cope. Definitely (this is) an important issue for us to address and we have to plan ahead for it," added Ms Fu.
"So, good jobs, vibrant economy, but good living environment, good quality of life is what we should strive for."
Senior Fellow at the Lee Kuan Yew School of Public Policy Donald Low said the Government may need to re-look the current strategy of reserve accumulation when the population is aging rapidly.
But Ms Fu cautioned against committing too much for the future.
She said: "I think that we should continue to help the lower income and I think we can do more but we have to be careful not to over-extend ourselves.
"I think we do not want to mortgage our future away, so it has to be in a financially sustainable manner."
Ms Fu called on young Singaporeans to participate in the National Conversation on Singapore's future.
But even as they do that, she urged them to consider the interests of other stakeholders - less skilled Singaporeans who do not have the same options as them, and future generations who will have to live with the outcome of the decisions made today. CHANNEL NEWSASIA
URL http://www.todayonline.com/Singapor...ity-growth-needed-to-have-good-jobs--Grace-Fu
Copyright 2012 MediaCorp Pte Ltd | All Rights Reserved
