roly8
08-03-13, 16:14
From www.straitstimes.com/breaking-news/singapore/story/spore-critical-period-transition-tharman-20130308
ECONOMIC restructuring will be painful but it cannot be put off any longer, said Deputy Prime Minister Tharman Shanmugaratnam yesterday, as he presented the choice confronting Singapore.
Noting that Singapore is at a critical period of transition, or an "inflection point in our history", he said the push for an economic metamorphosis is not just an economic issue but also a "key social pillar".
Raising productivity would benefit both firms and workers, through higher incomes. "If we do not achieve momentum in the next three years, there's a real risk that three years from now, we will be in exactly the same position. "Both workers and businesses will be worse off. There is no choice," he said in Parliament.
ECONOMIC restructuring will be painful but it cannot be put off any longer, said Deputy Prime Minister Tharman Shanmugaratnam yesterday, as he presented the choice confronting Singapore.
Noting that Singapore is at a critical period of transition, or an "inflection point in our history", he said the push for an economic metamorphosis is not just an economic issue but also a "key social pillar".
Raising productivity would benefit both firms and workers, through higher incomes. "If we do not achieve momentum in the next three years, there's a real risk that three years from now, we will be in exactly the same position. "Both workers and businesses will be worse off. There is no choice," he said in Parliament.