SgBlogs.com

01 Feb '13, 12pm

For the last three years the Reform Party has been saying that the PAP has only one economic idea.

The White Paper begins by stating the obvious fact that productivity growth is the only way to generate real increases in incomes. The Reform Party has always said that. However the Paper sets a target of 3-5% GDP growth p.a. from now to 2020 without providing any explanation as to why this is necessary or desirable. It then works backward from that to say that with productivity growth of 2-3% p.a. (over ambitious given Singapore’s poor productivity record-GDP per hour worked rose by only 0.1% p.a. over the period 2007-2011 according to the US Bureau of Labor Statistics and the bulk of that appears to have been due to some highly suspicious revisions of prior year data that our Department of Statistics have yet to explain) to say that we will need workforce growth of 1-2% p.a. to reach that target. But why this target in particular? Presumably the likely shortfall in produ...

Full article: http://thereformparty.net/about/press-releases/the-pap%e2...

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