17 Apr '12, 9pm

Prof Lim Chong Yah’s proposals are timely and should be implemented

Labour Chief and Minister in the Prime Minister’s Office Mr Lim Swee Say said: “This approach is very risky. What is at stake are jobs and structural unemployment. You can push up the wages of low-wage workers by 50 percent in three years, but you cannot improve his skill, his productivity, his employability by 50 percent in three years.” Mr Lim said that if productivity does not increase correspondingly, competitiveness would be lost, which may cause some businesses to close down or re-locate out of Singapore. This in turn would lead to a higher unemployment rate and structural unemployment. As such, Mr Lim stressed that the labour movement’s current productivity-driven approach is more sustainable. Minister of State for Trade and Industry Mr Teo Ser Luck said: “From the business perspective, it’s not just productivity increase that we need, we need the economy to do well...

Full article: http://www.sgpolitics.net/?p=7510

Tweets

Prof Lim provides clarification on his Economic...

sgpolitics.net 18 Apr '12, 9pm

Prof Lim provides clarification on his Economic Restructuring II proposals April 19, 2012 by admin Filed under: Media arti...

Prof Lim Chong Yah debunks notion that wage “sh...

sgpolitics.net 18 Apr '12, 9pm

“Official statistics show Singapore had an average of 6.4 percent real growth rate per year from 1974 through 1978, the qu...

Some S’poreans grossly underpaid: Professor Lim...

sg.news.yahoo.com 17 Apr '12, 12pm

Singaporean workers in low-paying sectors have been “grossly underpaid” said economist and former National Wage Council ch...

NSF dies during training at Lim Chu Kang #Singa...

sg.news.yahoo.com 17 Apr '12, 11am

A 21-year-old full-time National Serviceman died on Tuesday afternoon after suffering breathing difficulties while taking ...