Singapore’s Prime Minister Lee Hsien Loong on Monday identified
three areas of priority for the government: restructuring the
economy, addressing the population shortfall and updating the
political system.
In a wide—ranging speech to the annual Singapore Perspective
Conference organised by the Institute of Policy Studies, Mr Lee
said Singapore’s economic policies must enable the country’s
economy to perform to its limits and help Singaporeans thrive in
the new world.
He said the Economic Strategies Committee will publish its
recommendations next week and the government will respond to them
in the Budget.
On the population shortfall, Mr Lee said Singapore’s birth rates
are not improving despite the government’s best efforts.
Last year, there were about 170 fewer live births than in
2008.
This would mean that the total fertility rate would have gone
down further.
PM Lee stressed that while the decline could have been due to
the global economic downturn, it was still a grave trend. If left
unchecked, Singapore will face not just an ageing, but a shrinking
population.
Therefore, he said the government needs to encourage
Singaporeans to start families with parenthood benefits and other
incentives.
However, he added that the country must also top up the
population and talent pool with immigration in a measured and
calibrated manner.
Turning to the subject of updating the political system, Mr Lee
said that while having a sound system is essential, that in itself
is not enough to produce political stability and good
governance.
He said that the nation is still dependent on having the right
people in charge and an able and committed team coming forward to
lead the country.
The Prime Minister said a key task for his predecessors and
himself has always been to identify promising people to form the
next team.
He said good progress has been made in this area but he does not
have a complete next team lined up in Cabinet yet.
He is confident that by the next general election, the People’s
Action Party (PAP) will field a team which will consist the core of
the next generation leadership.
Mr Lee also stressed that leadership renewal will be a major
issue in the next general election.
Welcome to overcrowding Sinkapore.