1+2=3: High economic growth is over for Singapore.

[kryonlight]

What nonsense is this 1+2=3 spewing? I thought we are on track to 6.9 million, no?

http://statestimesreview.com/2016/02/26/minister-lim-swee-say-high-economic-growth-is-over/

In his dialogue yesterday (Feb 26), Manpower Minister Lim Swee Say attempted to managed public expectations over the government’s inability to grow the Singapore economy by saying “the days of high economic growth are over” and he blames the retiring baby boomers for slowing the growth of the local workforce.

Minister Lim Swee Say however also said that opening the immigration floodgate like the one during 2007 – 2014 is not an option citing concerns that Singaporeans may become a minority. He then declared the only solution is to achieve a “quantum leap in productivity”, despite not knowing the meaning of the word “quantum”. In physics, a quantum means the minimum amount of any physical entity involved in an interaction.

This is not the first time the Minister misued or created embarrassing words, in 2012, he created the word “betterer’.

Minister Lim Swee Say continued his speech and and proposed an “economic growth formula” called “1+2=3”:

“1 per cent growth in our workforce, plus 2 per cent growth in our productivity, to give us 3 per cent growth in our GDP. Three per cent will be much lower than the 4 per cent, 6 per cent in the past, but we believe that it is a 3 per cent driven by higher productivity, which will be of better quality and will be more sustainable.”

This “1+2=3” approach is a tacit admission that Singapore economy was built on the influx of foreign manpower because productivity has been near-zero in the past 10 years.

 

[Devil Within]

"1" + "2" = "12"

 

[tanwahtiu]

1 + 2 = 70%

give him shits he like.

"1" + "2" = "12"

 

[blueRad]

It was already long over. The flooding of FTs for the past 15 years fed him the illusion that high growth was still possible.

 

[krafty]

lim swee say is a waste of tax payers' money. he seriously should move on.

SG PMETs continue to be in dire straits in their own country


A respected retired old PMET told the author that Singaporean PMETs have much stacked against them in the employment market, as a consequence of “flawed policies the last decade”.

He noted, “Employers don’t have to pay CPF contributions to foreign PMETs on SP and EP. This is a big factor and makes it real cheap (for employers) to hire foreign PMETs.”

He also suggested not to pay retrenched foreign PMETs any severance package but make it compulsory to pay Singaporean PMETs a heavy severance package equivalent to 2-3 years of the person’s annual pay.

“Plus pay in lieu of notice and pro-rated accrued leave pay,” he added.

“This will make it compelling for companies to let go foreign PMETs first (in the case of retrenchments) to save on big severance cost… talking cock and singing songs will not cut it.”

Do you agree with what this old retired PMET has proposed?


http://www.theonlinecitizen.com/201...e-to-be-in-dire-straits-in-their-own-country/

 

[frenchbriefs]

What happened to the 6.9 population white paper?that was a government sponsored research paper,debated over vigorously in parliament,protested by singaporeans and ignored,pushed thru legislation by 70 mps in parliament.now suddenly can suka suka uturn flip flop national policy?I must protest!!!change the target to 10 million pop,6.9 million mist be met by 2030.