Budget 2025 debate: Jamus Lim on why it is time for wages to rise
Since the COVID-19 pandemic, wages in Singapore have fallen behind increases in inflation and productivity, said MP Jamus Lim in parliament on Wednesday (Feb 26). He said it is “high time” for salaries to rise and there is more that the government can do to expedite this adjustment. This includes ensuring wider adoption of guidelines set by the National Wages Council, equalising the employers’ share of CPF contributions and instituting a statutory universal minimum wage. Assoc Prof Lim said restoring the real purchasing power of wages will be a “sure-fire way” to help working Singaporeans cope with “sky-high” costs of living.
Since the COVID-19 pandemic, wages in Singapore have fallen behind increases in inflation and productivity, said MP Jamus Lim in parliament on Wednesday (Feb 26). He said it is “high time” for salaries to rise and there is more that the government can do to expedite this adjustment. This includes ensuring wider adoption of guidelines set by the National Wages Council, equalising the employers’ share of CPF contributions and instituting a statutory universal minimum wage. Assoc Prof Lim said restoring the real purchasing power of wages will be a “sure-fire way” to help working Singaporeans cope with “sky-high” costs of living.
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