Singapore Government and Workers' Party Discuss Economic Growth and Worker Benefits

The Workers' Party wants a new growth model to help Singapore workers.

Members of Parliament from the Workers' Party and the People's Action Party discussed the economy.

Kenneth Tiong said the growth model should care about more than just the GDP.

He wants an honest measurement of what matters in growth.

Pritam Singh said it's time to make retrenchment benefits a law.

He said many workers face problems when they lose their jobs.

Minister Tan See Leng said financial support during unemployment helps workers.

The goal is to help workers get back to work, not just make unemployment easier.

The government will help workers prepare for change and find new jobs.

Minister Tan said workers need to be able to contribute and earn a living.

Minister Jeffrey Siow said the government's economic strategy is for Singaporeans.

He said economic growth is a means to create better lives for Singaporeans.

The Workers' Party proposed a special zone for young companies and workers.

Minister Siow responded to the Workers' Party's proposal.

Kenneth Tiong said Singapore needs an economic engine driven by local companies.

He said Singaporeans need to thrive for the country to be open.

He wants the government to measure what makes growth worth having.

Gerald Giam said skilled trades should be high-value careers.

He said these jobs are important for the national infrastructure.

These jobs cannot be replaced by artificial intelligence.

Gerald Giam made proposals to promote skilled trades.

Minister Dinesh Vasu Dash said the labour market has remained strong.

He said employment has grown for 19 quarters in a row.

Resident employment has grown, and unemployment is low.

Real incomes have risen, and income inequality has fallen.

Few advanced economies have achieved these outcomes at the same time.

Minister Dinesh said Singapore's wage outcomes are higher than other economies.

He said the evidence does not support the conclusion that Singapore's economic model is failing.

The system has served Singapore well, but it must adapt to the changing world.

Minister Dinesh said the Economic Strategy Review seeks to build an economy for all Singaporeans.

Pritam Singh urged the government to legislate minimum retrenchment benefits.

Most eligible employees received retrenchment benefits, but some did not.

Pritam Singh said workers have no statutory entitlement to retrenchment benefits.

Workers depend on their employers' goodwill for retrenchment benefits.

Retrenchment benefits are an important layer of support for workers.

The Ministry of Manpower has argued against legislating retrenchment benefits.

Pritam Singh said many responsible employers already provide retrenchment benefits.

Legislating retrenchment benefits would formalize an existing practice.

Pritam Singh said it's time for Singapore to legislate minimum retrenchment benefits.

He said worker anxiety has increased despite a positive employment situation.

Fadli Fawzi suggested having a robust safety net for workers.

Upskilling and retraining may not be enough for workers who lose their jobs.

Fadli Fawzi proposed a redundancy insurance scheme.

The scheme would offer better protection for all workers, including professionals.

Patrick Tay said the National Trades Union Congress has been negotiating collective agreements.

The labour movement has been lobbying for stronger retrenchment protection.

Patrick Tay said the Jobseeker Support Scheme does not require premiums.

The government pays for the scheme to support workers.

Minister Dinesh said the government is looking at enhancing the Jobseeker Support Scheme.

The ESR report highlights a need to consider an insurance scheme.

Minister Dinesh said the difference between the WP's scheme and the government's scheme is not clear.

He said the ESR has recommended strengthening schemes like the Jobseeker Support Scheme.

Fadli Fawzi said the Jobseeker Support Scheme requires an application process.

The WP's proposed scheme could reduce the risk of underemployment.

Minister Dinesh responded to Fadli Fawzi's clarification.

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