Workers' Party files Parliamentary motion for a 'more equal and inclusive economy'

The Workers' Party (WP) will file a motion to speak on how Singapore can upgrade her economic structure for the benefit of all citizens when Parliament sits on Tuesday (Aug 4).

Titled "an economy of the future that works for all", the motion expresses the need for a "more equal and inclusive economy" that gives households, businesses, workers and innovators more opportunities.

It also states that the economy should be driven by local companies and domestic demand, as well as the expansion of Singaporean capital overseas.

Most WP MPs are expected to debate various economic issues and topics in the motion led by Aljunied GRC MP Kenneth Tiong and Sengkang GRC MP Assoc Prof Jamus Lim.

Tiong told reporters on Saturday (Aug 1) that Singapore has relied on multinational corporations (MNCs) to grow the economy, but companies are beginning to move their regional headquarters and production facilities elsewhere.

"Singapore faces a new set of challenges and markedly different global realities. We cannot rely on a safe playbook to succeed, and we cannot just rely on headline growth numbers to propel Singapore forward," he said.

"There is a hunger to create things with our own hands and upgrades. There is a tenacity to Singaporeans that wants to do more, to build a Singapore that we can be proud of."

Assoc Prof Lim added that the views and suggestions that will be put forth by the party are to "complement" the recommendations set out by the Economic Strategy Review (ESR).

While acknowledging the valid issues raised in the ESR report and its substantive recommendations, he said the WP believes the report "still contains gaps", such as the challenges faced by local businesses and driving innovation and R&D in startups.

"We hope that the contributions that we will make in our intervention to Parliament...aren't seen necessarily as a substitute, but rather as complements to what the government has already said.

"We think that there are still some gaps in that vision, and we provide both an alternative vision and a way forward that we think fills in many of these gaps."

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lim.kewei@asiaone.com