18 Apr '12, 9pm

Prof Lim provides clarification on his Economic Restructuring II proposals

Prof Lim provides clarification on his Economic Restructuring II proposals April 19, 2012 by admin Filed under: Media articles Press Release by Professor Lim Chong Yah Dated 16 April 2012 I am honoured that my public lecture on ERII (also termed as shock therapy) has attracted the attention of so many concerned Singaporeans. At least two reservations should be explained by me to clear the cobweb of misunderstanding. The first serious and perfectly understandable and deeply appreciated concern is the gap between productivity growth and my recommended pay increase of 50% over the next three years: 15% for year one, 15% for year two and 20% for year three. The perfectly understandable argument is that remuneration increase must be according to productivity growth. My position, however, is that our lowly‐paid workers have been underpaid by much more than 100% of their pay when...

Full article: http://www.sgpolitics.net/?p=7516

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