World News Engine: S'pore's long-term prospects depend on right policies, right politics

S'pore's long-term prospects depend on right policies, right politics

Prime Minister Lee Hsien Loong says how well Singapore does in the long term depends on its policies and politics.

In his traditional May Day message on Saturday, he said Singapore needs both the right policies and the right politics to produce governments that pursue sound policies, a stable environment for growth and confidence in Singapore's long-term prospects.

Singapore's good government and policies have led to better jobs and lives, said Prime Minister Lee.

The country has to keep this virtuous cycle
going, he added.

Mr Lee said politics here have looked after the interests of workers, not just in the sense of parties and elections but in the sense of Singaporeans understanding what their future depends on and supporting leaders who will work with them to secure their future.

It is also about upholding key institutions like the tripartite partners so that the country is resilient when confronted by challenges and to emerge from crises tougher and more united.

On inflation, Mr Lee said it has been higher than the people wished and that hopefully it will moderate later this year.

The stronger Singapore dollar will help to mitigate imported inflation, and businesses too have responded well to the government's efforts to hold down prices of basic essentials.

Meanwhile the S$3.2 billion "Grow & Share" package will help homes cope with the higher cost of living.

Mr Lee believes that for most lower- and middle-income households, the package should more than make up for the higher cost of living this year.

Mr Lee said: "We aim to grow not for its own sake, but so as to raise the standards of living of our people across the board. Without growth, we would lack resources to invest in our future and to help Singaporeans in need.

"But even with growth, we must make a concerted effort to enable all Singaporeans to benefit, through social programmes like home ownership, education and affordable health care, as well as through special measures like the 'Grow & Share' package when the economy does exceptionally well."

2011 also marks 50 years of partnership between the People's Action Party and the labour movement, NTUC.

Mr Lee said this unique symbiotic relationship has produced successive PAP governments that have improved the lives of workers beyond recognition.

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