Towards A Better Life For All

Posted on 24/10/2011

What should ‘inclusive growth’ mean in the Singapore context? What specific measures should the government, and the private sector adopt to ensure a better life for all in a growing economy?

I BELIEVE that there is a price to pay for wanting to forge a “caring” society. Businesses are about optimising productivity, so I believe that implementing measures to include workers who are not as “commercially productive” is bound to translate into lower growth.

In terms of specific measures to ensure a better life for all, the government may want to consider implementing a minimum wage policy, which will raise the income levels of low wage workers.

Other countries like the US have such legislation in place and I think it will be groundbreaking for Singapore to introduce a minimum wage policy, instead of leaving employee salaries to free market forces.

Source: The Business Times, 24 October 2011