A6 TOPOF THENEWS | | SATURDAY, FEBRUARY 29, 2020 |

Budget debate

BAND TOGETHER TO REAP GAINS DPM to businesses: Even as businesses compete with one another and seek to differentiate themselves, cooperation Be creative and can help them do better, such as by forming alliances to capture opportunities overseas seize opportunities or collaborating to test-bed sector-wide solutions.

economic success and resilience. Having ecosystems for innovation and strong has expanded its local capabilities is key to Singapore’s success research and development invest- ments into new areas and techno- Singapore Poultry Hub chief executive Joseph Heng (front, right) with the hub’s ’’HENG SWEE KEAT logies, enabling it to transform its five shareholders. With them is Mr Eric Tham (front, left) from United Overseas Choo Yun Ting Last year, 51 per cent of full-time manufacturing and services sec- Bank, which furnished a $40 million loan for the smart factory. PHOTO: UOB employed local workers earned a tors, as well as create new growth gross monthly income of at least clusters in areas such as urban solu- Businesses must be willing to bear $4,000, excluding employer Cen- tions and sustainability, and agri- Enterprise Singapore (ESG) to ration between businesses reaped Development Board attracting the transitional pains, to be tral Provident Fund contributions. food technology. support the ELT programme, and gains. “By working together, these $15.2 billion of investment commit- creative and resourceful, and to This compares with 37 per cent of The Government is mobilising ESG will bring more partners on poultry producers were able to ments last year, and local employ- seize opportunities where others local workers who earned at least and partnering industries and firms board the programme in the achieve the scale needed to trans- ment has also grown in the last 10 see challenges, Deputy Prime Min- $4,000 in 2010, in today’s dollars to take ownership of their eco- coming months, he said. form a labour-intensive process.” years, he noted. ister Heng Swee Keat told Parlia- after adjusting for inflation. nomic transformation, Mr Heng He pointed out that partnership The hub’s smart factory will har- He said: “At its heart, economic ment yesterday. Mr Heng, who is also Finance added. “Business leaders must have among businesses at an industry ness emerging technologies to raise transformation involves the He said Singapore must move fast Minister, pointed out that Singa- the mental agility and dynamism to level is also important. “Even as productivity by 26 per cent and courage to brave transitional pains to secure growth and jobs in the pore is acting swiftly to secure its experiment, and the resourceful- businesses compete with one production capacity by 70 per cent. as we change the way we do things. new economic landscape or face external economic space, to create ness to overcome constraints,” he another and seek to differentiate Mr Heng said the economic trans- “If we can all move forward with irrelevance as the global economy new opportunities and room for said, noting that these leaders will themselves, cooperation can help formation efforts have begun to the can-do spirit of initiative and undergoes major changes, noting manoeuvre in an increasingly frag- receive support from the Govern- them do better, such as by forming bear fruit. Besides more and better partnership that we have shown in that the Republic’s journey of eco- mented economic order. It is also ment from the Enterprise Leader- alliances to capture opportunities jobs being created, productivity has the past weeks, I am confident we nomic transformation began four boosting the innovation, growth ship for Transformation (ELT) overseas or collaborating to test- also grown in the last three years, will build strong firms that can years ago when the Committee on and transformation capacity of its Programme, which was announced bed sector-wide solutions.” and Singapore’s enterprises are grow and compete in the global the Future Economy was formed. enterprises and industries, he said. in this year’s Budget. He cited the Singapore Poultry entering new markets. arena, and create good jobs for all These efforts have boosted pro- Building up strong local capabili- Institutes of higher learning, such Hub – a joint venture among five The nation has continued to at- .” ductivity and created more and ties and ecosystems for innovation, as the Singapore Management poultry producers and processors – tract investment despite economic better jobs for locals, he added. he added, is critical to the nation’s University, have also linked up with as another example of how collabo- headwinds, with the Economic [email protected] Strengthen social compact to ensure Tackling climate everyone benefits from S’pore’s growth change to secure S’pore’s future

Sue-Ann Tan Danson Cheong

As Singapore presses on with efforts to transform the economy The efforts made to tackle climate change are long-term and develop workers, it also has investments that represent the Government’s commit- to strengthen its social compact ment to coming generations of Singaporeans, said to ensure that the benefits of Deputy Prime Minister Heng Swee Keat. growth reach everyone, including This is an existential battle that Singapore, as a small, low-wage workers, middle-in- low-lying island state, is waging, and one that will take come families and retirees, place over the long haul, he said yesterday in a speech to Deputy Prime Minister Heng round up the debate on the Budget statement. Swee Keat said yesterday. Fighting climate change was a major limb of this year’s Mr Heng, who is also Finance Budget. Mr Heng, who is also Finance Minister, had an- Minister, said the Budget this year nounced fresh measures to tackle this global problem, in- provides further support for those cluding phasing out petrol and diesel vehicles by 2040, who may face greater pressures. expanding charging infrastructure for electric vehicles “Some face difficulties with em- (EVs) and injecting $5 billion into a new coastal and ployment and ensuring that flood protection fund. growth in their income keeps pace “I could have chosen instead to spend it on more hong- with inflation, despite their best bao, or red packets, to make myself more popular,” said efforts,” he noted. Mr Heng, referring to the fund. Businesses and the community “But by making the commitment today, these re- have a role to play as well, he sources will go towards pumps, tidal gates and infrastruc- added, noting that more organisa- ture that will keep our children, and their children, safe tions and groups have stepped from rising sea levels in decades to come.” forward in this regard. Singapore, he said, has always risen to the challenge in Nominated MP Walter The- the face of adversity and turned its “constraints into op- seira, Mr (Pasir Ris- portunities and strengths”, as it has done in dealing with Punggol GRC) and Mr Png Eng its limited water, land and manpower. Huat (Hougang) had spoken on The country has an ambitious plan to meet the chal- the vulnerabilities of low-wage lenge of climate change, he added. “We are not only se- workers during the Budget debate curing our coasts, but also transforming our sources of this week. food and water, and remaking our entire economy and Mr Heng said the Care and city for a green and sustainable future,” he said. Support Package, which includes The National Climate Change Secretariat is coordinat- grocery vouchers to help with payouts by 20 per cent. can face. Mr Heng said: “Support- He noted that in 2018, individu- An elderly ing this inter-agency effort, he noted. daily necessities, will support Middle-class families, who have ing and strengthening families will als collectively donated $2.1 billion cleaner washing During the debate, MPs had asked about the Govern- these workers and their families. to care for both their children always be a priority for us, and we through registered organisations, a rubbish ment’s bet on electric vehicles (EVs), pointing out that a These initiatives come on the and elderly parents, also get sup- will continue to look at how to do more than double the $960 million collection area rebate it would offer on the Additional Registration Fee back of efforts such as enhancing port, with more GST Voucher U- so effectively. donated in 2008. in Toa Payoh. for such vehicles seemed insufficient. Workfare for low-income workers, Save rebates for larger house- “Overall, the measures we have Around one in two businesses Deputy Prime Responding, Mr Heng said he expects the cost differen- the Progressive Wage Model, holds and Passion Card top-ups put in place over the past decade to here also gives back to the wider Minister Heng tial between EVs and conventional vehicles to drop as which provides a structure for for their parents. provide good jobs for our people, community through philanthropy Swee Keat said technology improves, but added that “a car-lite vision workers in some sectors to earn Each parent with young or develop them at all stages of life and volunteering. the Budget continues to be the main focus” of Singapore’s transport more through skills upgrading, schoolgoing children will also get and support the vulnerable have He also lauded the Nominated provides further policy. “While we want to encourage drivers to replace and ComCare, a fund that provides an extra $100 cash payout. made a decisive impact in narrow- MPs for their work in various ar- support for their internal combustion engine vehicles with EVs, we social assistance. These measures are in addition ing the income gap.” eas, from mental health to champi- those who may should bear in mind that the cleanest and most efficient He noted that mayors and the to extensive subsidies in education, The Gini co-efficient, which oning the arts. face greater mode of transport remains public transport.” five Community Development healthcare and public housing. Last measures income inequality, after “This is how we should rise to pressures, such MPs had also noted that the fight against climate Councils have put in place local year, middle-income households taxes and transfers, fell to 0.398 the challenge of inequality in this as with income change required a mindset shift among Singaporeans, assistance schemes to support received $2 in benefits for every last year. This was the lowest day and age – by coming together and employment, and that everyone had to participate. residents. dollar in tax they paid. since 2001. as one people to uplift the less but asks Agreeing, Mr Heng said this was a “whole-of-society, Retirees who had low income in Several MPs, including Mr Businesses and the commu- privileged among us, with the state businesses to multi-generational effort” that could span 50 or even their working years and little to no (Tanjong Pagar nity have growing roles to play as providing strong foundations of play their role as 100 years. “If we take the long-term view, and each gen- family support will also get extra GRC), Mr (Nee Soon well in being inclusive and helping opportunity and support,” said well, such as by eration plays its part, Singapore can face the future help through the enhancements to GRC) and Mr those in need through philan- Mr Heng. being inclusive. with confidence.” Silver Support. This will benefit ( GRC), had spoken thropy and volunteering, said ST PHOTO: 100,000 more seniors and raise about the pressures these families Mr Heng. [email protected] KUA CHEE SIONG [email protected]

these firms “consciously seek to in- projections so Singaporeans can eval- Embrace diverse views and political differences: Pritam crease the local headcount by way of uate the necessity of raising GST job redesign going forward”. from 7 per cent to 9 per cent, which On the fiscal position, he asked for is scheduled to take place by 2025. Rei Kurohi even contradictory views in the ef- raise, not out of an inability of their Singapore’s fiscal position. updates on the Government’s plans “I believe this openness would con- fort to find common cause”, he said. own, but because of the nature of On measures to help tide busi- to study the option of using govern- tribute to a more substantive conver- This should be encouraged, not dis- politics and political contestation”. nesses over the outbreak, he said pri- ment debt to partially finance long- sation and understanding of our fis- Diverse views and political differ- couraged, he added yesterday during WP MPs agree with the Govern- vate bus companies and drivers are term infrastructure projects and on cal trade-offs. This can only advance ences should be embraced in Singa- the debate on the Budget statement. ment when they have to and disagree bearing the brunt of cancelled trips its consultations with businesses on and mature conversations that take pore’s democracy, said Workers’ “It is that process of embracing diver- when they must, he said, adding that and tours. “Private bus companies implementing policies to prevent place in Singapore,” Mr Singh said. Party (WP) chief Pritam Singh. sity and accommodating political dif- they do so while endeavouring for feel the Budget support package is companies from shifting profits to “Until this clarity is provided, the WP He noted that unity has been a re- ferences that gives meaning to a the best outcomes for Singapore and not targeted enough in view of the lower-tax jurisdictions. position has not changed. We cannot curring theme of each year’s Bud- democracy of deeds for the 21st cen- for unity of purpose when politics nature of their business,” he said. He also reiterated the WP’s posi- support a GST hike, especially since get since 2016. But in seeking to tury, and not for a one-party Parlia- has to take a backseat, like during the Mr Singh also said he hopes the Gov- tion on the planned goods and ser- this is to be raised in advance, and be- engender a “Singapore Together” ment of decades past,” said Mr Singh. ongoing Covid-19 outbreak. ernment will reconsider its decision vices tax (GST) hike, and said the fore the Government’s projections movement, the country’s fourth He said his party’s MPs have In his speech, Mr Singh ad- not to waive foreign worker levies for party does not support it. He called have been put to this House.” generation leadership must also en- raised issues that People’s Action dressed responses from businesses companies that have no choice but to for the Government to publicly re- counter “very diverse, edgy and Party MPs “cannot be expected to to the measures in the Budget and hire foreigners, on condition that lease its revenue and expenditure [email protected]