Give future generations best opportunities to succeed: DPM Teo
DPM Teo Chee Hean at the Spring Reception with Cabinet Ministers and Members of Parliament. The event was organised by the Singapore Chinese Cultural Centre and Singapore Federation of Chinese Clan Associations. Photo: Raj Nadarajan/TODAY
SINGAPORE — Noting that Singapore’s pioneers had laid down a strong foundation for the country and saved resources for the next generation, Deputy Prime Minister Teo Chee Hean on Sunday (Feb 18) called on the current generation to emulate their actions so that future generations have the “best opportunities to succeed”.
Speaking at a spring reception jointly organised by the Singapore Federation of Chinese Clan Associations and the Singapore Chinese Cultural Centre, Mr Teo said with healthcare expenditure set to rise amid a greying population, the Government needs to ensure its finances remain sustainable.
Today, there are about 500,000 seniors aged 65 and above. By 2030, this is expected to almost double to around 900,000, he said.
“Healthcare is one area where we will continue to support with more resources, and help our seniors lead active lifestyles. We need to ensure government finances remain sustainable, and are able to provide for our future needs,” said Mr Teo.
He added: “Our founding generation has laid down a strong foundation for us and saved resources for the current generation.”
“Similarly, we too must prepare for our next generation, so that our children can have a stronger foundation and the best opportunities to succeed.”
He also said while the Government will continue to strengthen its social support system, help couples start their own families and provide care to the seniors, Singaporeans also need to play their part to “look after each other”.
Mr Teo’s comments came after Prime Minister Lee Hsien Loong urged Singaporeans in his Chinese New Year message on Thursday to uphold the “time-tested Asian values of thrift, self-reliance, and leaving something more for our children, instead of burdening them with their parents’ debts”.
Touching on the economy and jobs, Mr Teo said on Sunday that the Government understands the challenges faced by businesses and Singaporeans as the economy is being transformed.
“We will continue to work closely with our businesses to be more productive and seek new opportunities and markets,” he said.
With Finance Minister Heng Swee Keat set to deliver his Budget speech on Monday afternoon, Mr Teo noted that many might hope for a “big red packet”.
But he said “what is more important is how we continue to partner our trade associations and unions to help companies transform and develop new technologies such as in the digital economy”.
“We will also help our workers to raise their knowledge and skills needed for the jobs of the future,” he added.
