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Singapore's model of minimum wage taking shape: Lim Swee
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SINGAPORE: With on-going calls for
Singapore to have a minimum wage concept, the labour movement believes the
Republic's own model of minimum wage is taking shape.
Speaking during the
Budget debate in Parliament on Wednesday, NTUC secretary-general Lim Swee Say
said the Singapore model is made up of three components.
The first
component is the Workfare Income Supplement (WIS) for all workers earning below
$1,900.
Hence, WIS is a way of topping up the salaries of these
workers.
The second is the Workfare Training Support (WTS) scheme where
low-wage workers' skills are upgraded quickly.
The third component is the
labour movement's progressive wage system where four factors are pulled together
to improve the workers' well-being.
These are skills, productivity,
career path and the workers' wages.
"With the WIS, WTS and Progressive
Wage Model, we believe we now have a minimum wage model. In fact, it's more than
a minimum wage model whereby we can maximise the upside of low-wage workers and
at the same time minimise the downside," said Mr Lim.
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SINGAPORE: With on-going calls for
Singapore to have a minimum wage concept, the labour movement believes the
Republic's own model of minimum wage is taking shape.
Speaking during the
Budget debate in Parliament on Wednesday, NTUC secretary-general Lim Swee Say
said the Singapore model is made up of three components.
The first
component is the Workfare Income Supplement (WIS) for all workers earning below
$1,900.
Hence, WIS is a way of topping up the salaries of these
workers.
The second is the Workfare Training Support (WTS) scheme where
low-wage workers' skills are upgraded quickly.
The third component is the
labour movement's progressive wage system where four factors are pulled together
to improve the workers' well-being.
These are skills, productivity,
career path and the workers' wages.
"With the WIS, WTS and Progressive
Wage Model, we believe we now have a minimum wage model. In fact, it's more than
a minimum wage model whereby we can maximise the upside of low-wage workers and
at the same time minimise the downside," said Mr Lim.