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WP proposals 'an exciting narrative'
By Jacqueline Woo
My Paper
Friday, Feb 08, 2013
SINGAPORE - It may not be possible to realise the Workers' Party's (WP's) alternative proposals to the Population White Paper conceptually, according to Acting Minister for Manpower Tan Chuan-Jin.
Speaking during the parliamentary debate yesterday, he called the WP's suggestion for zero foreign-manpower growth an "alarming" one.
Noting that there are limits to the resident-labour-force participation rate, especially with an ageing population, Mr Tan said that the WP's plan will "hurt Singapore", if put into practice.
He also responded to the WP's proposal for the Government to utilise the country's reserves in funding productivity efforts of businesses, saying that "this is not that rainy day (to use them) yet".
Mr Tan said: "These are built up by fiscal prudence over the years and the hard work of our forefathers."
He said that while the WP's proposals sounded like an "exciting narrative", he was "not sure (they) actually work and...the cost is considerable".
He explained that the Government will take measures to restructure and slow economic growth to a sustainable level. "We need to plan not for the theoretical best...(but) to anticipate the unknowns," said Mr Tan.
"The White Paper is the product of this desire to get it right and chart the course for the future."
By Jacqueline Woo
My Paper
Friday, Feb 08, 2013
SINGAPORE - It may not be possible to realise the Workers' Party's (WP's) alternative proposals to the Population White Paper conceptually, according to Acting Minister for Manpower Tan Chuan-Jin.
Speaking during the parliamentary debate yesterday, he called the WP's suggestion for zero foreign-manpower growth an "alarming" one.
Noting that there are limits to the resident-labour-force participation rate, especially with an ageing population, Mr Tan said that the WP's plan will "hurt Singapore", if put into practice.
He also responded to the WP's proposal for the Government to utilise the country's reserves in funding productivity efforts of businesses, saying that "this is not that rainy day (to use them) yet".
Mr Tan said: "These are built up by fiscal prudence over the years and the hard work of our forefathers."
He said that while the WP's proposals sounded like an "exciting narrative", he was "not sure (they) actually work and...the cost is considerable".
He explained that the Government will take measures to restructure and slow economic growth to a sustainable level. "We need to plan not for the theoretical best...(but) to anticipate the unknowns," said Mr Tan.
"The White Paper is the product of this desire to get it right and chart the course for the future."
