Singapore’s economic strategy ‘inextricably linked’ to building caring society, opportunities for all: Heng Swee Keat

SINGAPORE: All of the Government’s efforts to steward resources and grow the economy are, said Finance Minister Heng Swee Keat, about forging “the kind of society we want”. This means staying cohesive and united, as a society with opportunities for all, and building a caring society, with people who are passionate about “contributing to the common good”.

Making this point in his round-up speech on the Budget debate in Parliament on Thursday (Mar 1), Mr Heng stressed the importance of not allowing social stratification and inequality of opportunity to erode Singapore’s social harmony. “Singapore must continue to be a society where everyone, regardless of background, has the opportunity to do well based on personal efforts and talent,” he said.

“How we achieve this is inextricably linked to our economic strategy.”

He noted that as MPs Jessica Tan and Tan Wu Meng pointed out, diversified and broad-based growth creates opportunities for Singaporeans to pursue their aspirations, and is the best way to help all Singaporeans progress in life. “Rather than focus on how the pie is divided, we should grow the pie so that all can enjoy a larger slice.”

In his speech, Mr Heng outlined how the Government intends to give Singaporeans a good chance of realising their potential at various stages in life: From significant investments in the early childhood sector, to ensuring that all students have access to a quality education regardless of their family background and circumstances, and by broadening pathways to success. The Government is also investing heavily in SkillsFuture, he added, which gives everyone the opportunity to move into new areas of the economy “in line with their aptitude and interests”.

But Mr Heng also noted that bridging social divides is not just a matter of fostering opportunities and closing the income gap. “As a society, we must be mindful not to allow invisible, intangible divides to fester,” he said. And apart from creating common spaces like hawker centres, parks and HDB neighbourhoods, Mr Heng noted that another way to bridge such divides is to “nurture our common values, by building a caring society”.

“A good society is not just one where each of us is able to do well for ourselves,” he said. “It should be one where we all feel a sense of responsibility towards one another, a spirit of caring.”

“This is why this Budget seeks to strengthen partnerships between the Government and the community and to encourage a spirit of giving in every Singaporean,” he added. “We want to foster a caring society through the SG Cares movement, bringing together individuals, informal groups, community organisations and corporates to partner one another, and better reach out to those in need.”