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People must reap the fruits of economic growth: Liang Eng Hwa

The nation's push for quality economic growth must translate to a better life for its people, said Member of Parliament Liang Eng Hwa on Monday (May 26).

SINGAPORE: The nation's push for quality economic growth must translate to a better life for its people, said Member of Parliament Liang Eng Hwa on Monday (May 26).

Speaking at the debate on the President Tony Tan Keng Yam May 16 address, Mr Liang said employers should offer their staff more flexibility and a greater sense of fulfilment and social contribution, even as jobs place greater demands on workers.

He called on the Government to encourage the growth of certain sectors in the economy, by way of specific incentives and infrastructure building, to create jobs.

Mr Liang said quality growth also means greater inclusiveness. Growth of this nature can only be achieved if Singapore makes progress in areas like affordable healthcare, social mobility and education, and ensuring a secure retirement for all, he said.

He noted that while the benefits of economic growth do not always trickle down fully to the lower-income, the solution is not to slow down growth. Rather, he said the approach should be to use targeted help for the lower-income through a slew of measures that includes raising their wages and improving safety nets.

Mr Liang said that can be done while keeping the other foot on the pedal of growth, which will help fund social safety nets. To achieve this, Singapore has to constantly watch the competition and continuously enhance its value proposition by finding new ways to grow the economy and pressing on with the necessary economic transformation, he said.

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