S'pore To Rely Less On Foreign Workers

By Tengku Noor Shamsiah Tengku Abdullah SINGAPORE, Feb 17 (Bernama) -- Singapore aims to build an inclusive and strong country by depending less on foreign workforce by adopting an array of social and economic strategies under Budget 2012. Its Deputy Prime Minister and Minister for Finance, Tharman Shanmugaratnam, said to sustain economic growth, Singapore has to restructure and upgrade its economy so that it would grow by being more productive and relying less on expanding its workforce. "The country has to reduce its dependence on foreign labour, and do much more to build an economy driven by higher skills, innovation and productivity, as the basis for achieving higher incomes for Singaporeans," he said when tabling Budget 2012 in Parliament here Friday. Nevertheless, Tharman said, foreign workers had in fact been indispensable to many of Singapore's industries. He said foreign workers had enabled the island republic to stay competitive internationally. However, he said Singapore's increasing dependence on foreign workers was not sustainable. "A continued rapid infusion of foreign workers will inevitably affect the Singaporean character of our society. "We must therefore take further measures to reduce the inflow of foreign workers, and help our businesses adapt to the permanent reality of a tight labour market," he said. Tharman said to build a fair and inclusive society, the country has to keep mobility high, help its elderly live well, and provide stronger support for Singaporeans with disabilities. "The government will create more opportunities for lower- and middle-income Singaporeans, and provide stronger help for families who fall on difficult times to pick themselves up," he said. He said this year's budget marked a significant move by the government to support three groups of Singaporeans. "For older Singaporeans, including those in the middle-income group, the government will introduce a comprehensive set of measures to help them work, to build up their savings, and to stay healthy and have a greater sense of security in retirement. "For Singaporeans with disabilities, the government will do more to help them maximise their potential at each stage of life -- in early childhood, in school, and as adults, to work and to be cared for. "For lower-income Singaporeans, the government will do more to support their children’s education, and help them acquire skills as adults, hold good jobs and improve their incomes over time," he said. Tharman said the government would also introduce a new and permanent feature in its tax system: GST vouchers, which will provide continuing assurance of a fair system of taxes and benefits. He said incomes had also gone up. The median Singapore household saw income per household member grow by 17 per cent in the past five years, after adjusting for inflation, he said. Tharman said the lower end has not lost out either. Singaporeans at the 20th percentile of households experienced 14 per cent real growth in income per household member -- both because their individual wages have gone up, and also because more members of the household obtained jobs. -- BERNAMA