Debate on President’s Address: Saktiandi Supaat on people-Government trust and partnership in facing challenges
Singapore’s ageing population, spiralling costs and interest rates and intensifying global competition for business and talent. These are among the major challenges the country will need to target, adapt to and conquer, said MP Saktiandi Supaat. Speaking in Parliament on Wednesday (Apr 19), he said if Singapore can maintain the same people-Government trust and partnership that saw it emerge from the COVID-19 pandemic much better than other countries, he is optimistic about the future. He said being small and import-dependent, Singapore is a “price-taker”, including when it comes to interest rates. He highlighted the need to better manage these growing constraints by being more adaptable and resourceful and in so doing, compete stronger as a business and connectivity hub. Mr Saktiandi said this must be Singapore’s longer-term strategy, so that workers get good jobs, become more productive and get rewarded for the higher value they bring. In the short term, the Government needs to help Singaporeans navigate the new environment of rising costs and higher interest rates, he said. Mr Saktiandi said also that in preparing for his speech, he came across a January 2023 report by Workers' Party MP Louis Chua that indicated that housing affordability in Singapore is healthy. "It seems odd that he and WP said something else in Parliament in the February housing motion," he said. Turning to the global competition for business and talent, Mr Saktiandi said Singapore’s efforts to attract and retain talent must be multi-pronged. He said legislation to ensure fair treatment at the workplace, including tackling unfair hiring practices against Singaporeans, is pertinent for a mature economy, as middle-income Singaporeans are concerned with the competition for jobs and opportunities at work in a future labour market that will be more contested. He said another key thrust to attracting and retaining talent will be building a more people-friendly and connected city.
Singapore’s ageing population, spiralling costs and interest rates and intensifying global competition for business and talent. These are among the major challenges the country will need to target, adapt to and conquer, said MP Saktiandi Supaat. Speaking in Parliament on Wednesday (Apr 19), he said if Singapore can maintain the same people-Government trust and partnership that saw it emerge from the COVID-19 pandemic much better than other countries, he is optimistic about the future. He said being small and import-dependent, Singapore is a “price-taker”, including when it comes to interest rates. He highlighted the need to better manage these growing constraints by being more adaptable and resourceful and in so doing, compete stronger as a business and connectivity hub. Mr Saktiandi said this must be Singapore’s longer-term strategy, so that workers get good jobs, become more productive and get rewarded for the higher value they bring. In the short term, the Government needs to help Singaporeans navigate the new environment of rising costs and higher interest rates, he said. Mr Saktiandi said also that in preparing for his speech, he came across a January 2023 report by Workers' Party MP Louis Chua that indicated that housing affordability in Singapore is healthy. "It seems odd that he and WP said something else in Parliament in the February housing motion," he said. Turning to the global competition for business and talent, Mr Saktiandi said Singapore’s efforts to attract and retain talent must be multi-pronged. He said legislation to ensure fair treatment at the workplace, including tackling unfair hiring practices against Singaporeans, is pertinent for a mature economy, as middle-income Singaporeans are concerned with the competition for jobs and opportunities at work in a future labour market that will be more contested. He said another key thrust to attracting and retaining talent will be building a more people-friendly and connected city.
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