Tan Jee Say attacks PM Lee for using ‘incomplete facts’ to push through his pro-foreigner economic policy
Posted by temasektimes on June 13, 2012
Former presidential candidate Tan Jee Say has lashed out at Prime Minister Lee Hsien Loong for using ‘incomplete facts’ and ‘false argument’ to push through his economic policy of achieving growth with more and more foreign workers.
PM Lee had earlier warned during a speech made to the Economic Society of Singapore on 8 June 2012 that Singapore needs to have an inflow of talent and people for continued growth” as there is no country in the world where the population gets smaller and incomes rise at the same time.”
In a note posted on his Facebook, Mr Tan highlighted a dozen countries in the world with a declining population which experienced GDP growth including Estonia, Latvia, Lithuania and Ukraine.
He added that “the experience of these countries including the Baltic states which are small open economies like Singapore, shows that there is no reason to believe that incomes in Singapore cannot rise even if reducing the number of foreign workers in Singapore results in a net decrease in the overall population.”
Mr Tan ended by expressing his disappointment with PM Lee:
“I am disappointed that the Prime Minister resorted to the use of incomplete facts and false argument to push through his economic policy of achieving growth with more and more foreign workers. If he does not have any new ideas to grow the economy without over-straining the physical infrastructure and destabilizing the social peace, he should step aside and let others lead the country with a new vision to take Singapore and Singaporeans forward.”
Singapore’s economic growth in the last decade has been fueled largely by the intake of foreign workers which has led to stagnant wages, rampant inflation and an obvious decline in the standard of living of Singaporeans.