Parliament backs amended WP motion on Singapore’s future economy after 9-hour debate

Parliament on Wednesday (Aug 5) voted in favour of an amended motion calling for a more equal and inclusive economy in Singapore with a place for both local companies and global enterprises. The original motion, tabled by Workers' Party (WP) MPs Kenneth Tiong (WP-Aljunied) and Jamus Lim (WP-Sengkang), had called for an economy of the future that works for all Singaporeans and presented the opposition party's vision for such a future and its own economic playbook. Mr Edward Chia (PAP-Holland-Bukit Timah) proposed to amend it to reflect that the motion's aspirations are aligned with the government's Economic Strategy Review (ESR) and not pursued in spite of it, while recognising the role that global enterprises play in Singapore's future economy. The final version sought that "this House, in line with the suggestions in the Economic Strategy Review on the future Singapore economy, believes in a more equal and inclusive economy, with opportunities for entrepreneurs to experiment, households and businesses to succeed, workers to thrive, and ideas and innovation to flourish; and in an economy powered by dynamic local companies, global enterprises, healthy domestic and external demand, and Singaporeans and Singaporean capital venturing abroad".