SINGAPORE — Deputy Prime Minister Lawrence Wong outlined a plan on Tuesday (Sept 26) to deal with the twin challenges of inequality and mobility amid a more challenging environment. He pledged that the Government will work to advance the well-being of the broad middle, while uplifting the lower-income and sustaining social mobility, especially for the disadvantaged. At the same time,...
SINGAPORE — Deputy Prime Minister Lawrence Wong outlined a plan on Tuesday to deal with the twin challenges of inequality and mobility amid a more challenging environment. He pledged that the Government will work to advance the well-being of the broad middle, while uplifting the lower-income and sustaining social mobility, especially for the disadvantaged.
Wong, who is also Finance Minister, said in a 40-minute speech that the Government has been thinking hard about these issues of inequality and social mobility as part of the Forward Singapore exercise to refresh the nation's social compact. Wong said the best way to achieve this is through a dynamic economy that continues to attract quality investments and scale up home-grown enterprises.
There are plans to step up investments in adult training through a significantly strengthened SkillsFuture system and credit top-ups for mid-career workers, among other things. The revamped system will also be how laid-off workers will get unemployment support, he added. He noted that Singapore has a higher occupational wage disparity between those engaged in "head" work, like managers and professionals, and those who engage in "hands" and "heart" work like technicians and service workers, compared to other advanced economies.
As the Government works to close these inequality gaps, another priority is to ensure there is absolute mobility in society, so that everyone keeps moving up, said Wong.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GIC appoints DPM Lawrence Wong as Deputy ChairmanHe will assist the Chairman, PM Lee in leading the Board in overseeing the fund’s long-term asset allocation and portfolio performance
Read more »
DPM Lawrence Wong named deputy chairman of GICGIC has appointed Lawrence Wong as deputy chairman, effective 1 October.
Read more »
DPM Lawrence Wong appointed deputy chairman of GIC boardSINGAPORE — Deputy Prime Minister and Finance Minister Lawrence Wong has been appointed deputy chairman of GIC's board of directors, the sovereign wealth fund said on Monday (Sept 25).
Read more »
Rehabilitation services drawing from trends like robotics and digitalisation: DPM Heng Swee KeatDemand for such services growing as people live longer, chronic disease and disabilities set to increase, he said. Read more at straitstimes.com.
Read more »
‘Appropriately sized’ unemployment support among ideas for SkillsFuture revamp: Lawrence WongSingapore has been “cautious” about introducing unemployment benefits but it has “revised and refreshed” its thinking given the faster pace of change in the economy, says the Deputy Prime Minister.
Read more »
‘Appropriately sized’ unemployment support among ideas for SkillsFuture revamp: Lawrence WongSINGAPORE — Singapore is looking at introducing “appropriately sized” support for involuntarily unemployed workers, as part of a revamp and expansion of the country’s SkillsFuture programme, Deputy Prime Minister Lawrence Wong said on Tuesday (Sept 26).
Read more »