Budget 2025 debate: Patrick Tay on strengthening ‘the three Cs’

Budget 2025 is a “momentous” one which recognises that sustainable economic growth is only possible when workers are fairly compensated, their rights are protected and their well-being prioritised, said MP Patrick Tay. In parliament on Thursday (Feb 27), he called for Singapore to strengthen “the three Cs” - the Singaporean Core, the workers’ compact and human capital capability. Mr Tay said a stronger Singaporean Core means a stronger Singapore economy - one that is more competitive and less reliant on external labour. So, a proactive approach must be taken to protect local jobs and invest in skills training. Mr Tay highlighted concerns about mid-career PMEs, who he said face unique challenges but may receive less government support in view of their higher income. Finally, he urged the authorities to improve standards and develop certification for human resources. He said this will help to ensure that businesses not only attract, develop and retain top local talent, but also foster progressive and inclusive workplaces that support workers at all levels.