Centred on helping the nation thrive and build a strong and united Singapore, Finance Minister Heng Swee Keat’s Budget 2019 round-up speech on 28 February 2019 zoomed in once again on how to help Singaporeans move forward.
“We empower people through education, create a good environment for families, help Singaporeans to earn and save enough for retirement, and support ageing with assurance,” said Mr Heng.
The speech also saw him highlight the Labour Movement's efforts in supporting workers, especially in the areas of training and upgrading.
Here are the key highlights of the Budget round-up speech:
Grooming the young
“We also support our young people to build their cross-cultural competencies. In this and the last two Budgets, I set out plans that will help our tertiary students, young workers, and aspiring leaders to build friendships with people and understand our region better. These include the Global Innovation Alliance, the Leadership Development Initiative, and the Global Ready Talent Programme.”
#EveryWorkerMatters
“For the Fourth Industrial Revolution, or Industry 4.0, to work for us, we need Worker 4.0 as well. Meaning, we need our workers to transform, and build capacity in tandem.”
Learning everywhere
“Learning, and building capacity does not stop after formal education in school. Learning takes place anywhere, anytime, from anyone. The workplace is a good place for our workers to learn.”
Adapting and growing
“We provide support for our workers to reskill and upskill, to seize opportunities and do well for themselves… The SkillsFuture movement provides this support for our workers to develop skills and pursue lifelong learning.
“For those who are displaced, we help them find a new job, and reskill where necessary, through programmes such as Adapt and Grow. The labour movement plays a key role in this.”
Workfare, not welfare
“Through Workfare and the Progressive Wage Model, we help lower-income workers upskill and reskill, earn more and save more.
“Much as we wish to help those who earn less, how we do it is important. This is best done by upgrading their skills and improving their chances of getting better paying jobs. What they learn today will be useful for many years down the road, and build a foundation for further learning.
“And where there are challenges with accessing skills training, I am confident that NTUC and our unions can come in to support.”
Singapore’s unique strength: Tripartism
“We must build on this, and strengthen partnerships between the Government, firms and unions.
“Firms must build deeper capabilities together with their workers. The workers benefit from better jobs and better pay. A skilled, committed workforce gives firms a competitive edge. This is the smart thing to do.
“I am pleased to hear of NTUC’s plans, such as the setting up of training committees with partner companies to build worker capabilities. Our unions are not just into advocacy. Our unions take concrete and meaningful action which makes a difference to our firms and workers. We will continue to support our unions in this effort.”
[Read More: What NTUC Secretary-General Ng Chee Meng said in Parliament]
[Read More: What the Labour Members of Parliament shared during the Budget Debates]
