Twin growth key for better future

Singapore is currently facing the twin challenges of manpower shortage and slow wage growth.

In order to secure a better future for Singapore and Singaporeans by 2020, twin growth powered by healthy economic growth and sustainable real wage growth – not liberal growth of foreign workers – is vital.

This point was strongly put across by NTUC Secretary-General Lim Swee Say at the NTUC May Day Rally 2012 on 1 May at Downtown East.

He said: "... basically, there is only one way to go to get a better future, which is to up our wages, to up our productivity both at the same time...

"… We do need to slow down and contain the growth of the foreign manpower, and therefore labour shortage will continue for many years to come, and for that reason, every one of us should think about how can we value every worker, make better use of every worker."