SINGAPORE : Finance Minister Tharman Shanmugaratnam has
warned that Singapore could face another round of inflation if
companies increase wages to help workers cope with the higher cost
of living today.
He said this will also affect Singapore’s competitiveness and
the ability to create jobs.
Mr Tharman was speaking to some 500 workers at the Singapore
Industrial and Services Employees’ Union dinner on Wednesday
evening.
Higher rice and oil prices have led some Singaporeans to call on
the government to set the tone by raising wages.
But Mr Tharman said such short—term measures are not prudent.
Instead, he said the government has provided assistance to help
Singaporeans deal with the higher cost of living.
Source: Channelnewsasia