Motion: Pritam Singh on an economy of the future that works for all
It is time for Singapore to legislate minimum retrenchment benefits, Workers’ Party chief Pritam Singh told parliament on Wednesday (Aug 5). He said it cannot be assumed that economic growth will result in the same extent of job creation as before and despite Singapore’s positive employment situation, worker anxiety has increased across a wide range of sectors. Arguments against retrenchment benefits must be weighed against the increasingly unpredictable economic landscape facing workers in the years to come, as outlined by the government’s Economic Strategy Review report, he said. He added that Singapore has fallen behind other countries that have adopted such laws. And as many responsible employers already provide retrenchment benefits, legislation would “largely formalise an existing practice” while ensuring that workers who fall through the gap that cannot be bridged by non-binding tripartite guidelines are protected.
It is time for Singapore to legislate minimum retrenchment benefits, Workers’ Party chief Pritam Singh told parliament on Wednesday (Aug 5). He said it cannot be assumed that economic growth will result in the same extent of job creation as before and despite Singapore’s positive employment situation, worker anxiety has increased across a wide range of sectors. Arguments against retrenchment benefits must be weighed against the increasingly unpredictable economic landscape facing workers in the years to come, as outlined by the government’s Economic Strategy Review report, he said. He added that Singapore has fallen behind other countries that have adopted such laws. And as many responsible employers already provide retrenchment benefits, legislation would “largely formalise an existing practice” while ensuring that workers who fall through the gap that cannot be bridged by non-binding tripartite guidelines are protected.
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