Singapore's Workers' Party to Propose 'Economy of the Future' Motion

The Workers' Party (WP) is set to introduce a motion in Singapore's Parliament on Tuesday, August 4, advocating for an "economy of the future" that benefits all citizens. Tabled by MPs Kenneth Tiong and Jamus Lim, the motion will articulate the opposition party's distinct vision and economic strategy.

The proposal calls for a more equitable and inclusive economy where entrepreneurs can innovate, households and businesses can prosper, and workers can thrive. The WP envisions an economic engine powered by robust local companies, strong domestic demand, and Singaporeans and their capital venturing abroad. This vision is presented as a complement to, but distinct from, the suggestions in the government's recent Economic Strategy Review (ESR) report.

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If I could sum up the motion in a question, it would be: 'How does an ordinary Singaporean get a lasting share of our country's success?'

During a press briefing, WP MP Kenneth Tiong described the motion as a "meaningful statement" reflecting the party's belief in an economic structure centered on Singaporeans. He posed the question, "How does an ordinary Singaporean get a lasting share of our country's success?" as the core inquiry the motion seeks to answer.

Associate Professor Jamus Lim added that the WP aims to offer a "sense of complementarity" to the government's economic outlook. While acknowledging the ESR report, the party seeks to present its own unique perspective and solutions, believing there are "gaps" in the current governmental vision. Lim indicated that his speech would focus on fostering a business climate conducive to the growth of dynamic local firms, while Tiong plans to address ideas for funding research and development and maximizing value within Singapore's constraints.

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We want to ensure that the message that we send both reacts to the report, but is also distinct from the report, so that we're not just reacting to the government's vision, but presenting our very own.