Monday 7 September 2015

Zero Local Workforce Growth In 2020 Will Be A Significant Driver Of Policies

 Opposition parties are trying to play up the 6.9 million and the Singaporean core to make angry people in order to win votes. Many are also promising money. 

None of them is focusing your attention on the real challenges ahead of us.

They seem to be oblivious to the fact that in 5 years' time, the local workforce growth will be zero. Or perhaps they just don't care because it's not their problem and it's more important to rile people up for that ticket to parliament? 

One of the significant challenges the Singapore economy will face is zero local workforce growth (net growth) in 2020. 

Can you imagine what happens when no new local workers are added to the economy? But of course WP tells you that you can get them from mothers and grandmothers. 

"If you don’t have any new local workers added to your economy, if you want to expand businesses, you will have to take workers from somewhere else. So it’s a net loss if you don’t have any new workers," Dr Ng Eng Hen said. 

For policies to be accommodative, he said capable ministers and MPs are needed.

"MPs because they can come back to us and say this policy does not quite meet the needs of this segment of my residents. And that's the reason we are calling for a strong PAP Government, not one weakened by attrition and candidates elected simply for the sake of diversity," the minister said.

"All of us want diversity but we want a strong mandate that will enable us to craft policies that enable to reach out and benefit more segments of society."

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