Debate on President’s speech: Shawn Loh on the need to rethink and reimagine policies

Singapore may be at a disadvantage as a new era of deglobalisation results in multinational company (MNC) headquarters being increasingly located near to manufacturing or nearer to markets, said MP Shawn Loh. He called for a renewed policy focus on growing Singaporean MNCs, saying the Government can do more to support local firms to scale beyond the SME level. Mr Loh also urged a pivot away from broad-based SkillsFuture initiatives towards a greater emphasis on employer-led training. This is because the best place to pick up relevant skills is in the workplace and workers benefit as they are assured of a job before committing to training. In parliament on Tuesday (Sep 23), Mr Loh also spoke about new challenges for town planning and policymaking brought about by extreme longevity. His suggestions included an expanded Silver Support Scheme for the oldest five per cent of the population. Finally, he addressed wealth inequality, which he described as the new challenge of this generation. He warned that if it is not tackled quickly enough, it will threaten to divide society.