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SINGAPORE \u2013 The Workers\u2019 Party will set out its vision for Singapore\u2019s economy and respond to the Government\u2019s economic plans in a motion in Parliament on Aug 4.<\/p>\n
The majority of the opposition party\u2019s 12 MPs will speak on it, covering themes including innovation, the cost of doing business, jobs and helping Singapore\u2019s businesses to regionalise.<\/p>\n
Aljunied GRC MP Kenneth Tiong, who filed the motion and Sengkang GRC MP Jamus Lim, who seconded it, laid out these plans at a press briefing on Aug 1.<\/p>\n
The motion has two parts. The first will ask if the House believes in a more equal and inclusive economy: one with opportunities for entrepreneurs to experiment; for households and businesses to succeed; for workers to thrive; and for ideas and innovation to flourish.<\/p>\n
The second will ask if it believes in an economic engine driven by dynamic local companies, healthy domestic demand, and Singaporeans and Singaporean capital venturing abroad.<\/p>\n
Tiong, a first-term MP, said the motion is the WP\u2019s attempt to answer the pressing questions of the day and \u201cwrite its own economic playbook\u201d.<\/p>\n
He said Singapore\u2019s economy has historically been driven by investment from large multinational corporations (MNCs) \u2013 a plan which worked well but is now facing challenges.<\/p>\n
Companies are now setting up their regional headquarters elsewhere in Asia because manpower and rent cost less, he said, citing some recent examples such as Standard Chartered bank moving jobs to India.<\/p>\n
Singapore therefore faces a new set of challenges and cannot rely on the same playbook to succeed, said Tiong, who works in tech.<\/p>\n
Lim noted that the Government had launched a review of Singapore\u2019s economy and released its plans<\/span><\/a> in June.<\/p>\n The committee behind the Government\u2019s Economic Strategy Review then set out in a report 32 recommendations across eight focus areas to navigate global shifts like AI and tariffs.<\/p>\n The WP will, in the coming months, push the Government about details in the report, but also wants to sketch out its own vision of how these details should be executed, said Lim.<\/p>\n For example, the report talks about the internationalisation of local firms \u2013 which the WP is in favour of. But it does not talk enough about some of the pain points Singapore\u2019s businesses continue to face, he said.<\/p>\n Lim said he hopes the WP\u2019s ideas set out during the motion are not seen as a substitute but a complement to the Government\u2019s plans.<\/p>\n \u201cWe think that there are still some gaps in that vision, and we provide both an alternative vision and a way forward that we think fills in many of these gaps,\u201d he said.<\/p>\n Tiong said the WP filed the motion as part of its MPs\u2019 responsibilities as political representatives.<\/p>\n Worries about how Singapore\u2019s economic model will continue to provide inclusive prosperity and more equal growth has been top of mind for many Singaporeans he has spoken to, he said. \u201cIt\u2019s our duty to come up with our answer,\u201d he said.<\/p>\n Tiong will open the motion and, as the first speaker, he will be allowed a 40-minute speech. He will also close the motion, with every other MP allowed 20 minutes to speak.<\/p>\n The last time the WP filed a motion in Parliament was in 2023, when party chief Pritam Singh tabled a debate on how to help Singaporeans with the cost of living.<\/p>\n The motion passed after a seven-hour debate, with amendments from the PAP. The WP eventually voted against the amended motion.<\/p>\n<\/div>\n SINGAPORE \u2013 The Workers\u2019 Party will set out its vision for Singapore\u2019s economy and respond to the Government\u2019s economic plans in a motion in Parliament…<\/p>\n","protected":false},"author":1,"featured_media":73831,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[2611],"tags":[],"class_list":["post-73830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-headlines","wpcat-2611-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/73830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=73830"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/73830\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/73831"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=73830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=73830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=73830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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