Workers’ Party to table motion calling for an ‘economy of the future’ for all Singaporeans
“This is our attempt to answer the pressing questions of the day and to write our own economic playbook,” said WP MP Kenneth Tiong.
The Workers’ Party headquarters at Teambuild Centre along Geylang Road in Singapore on Dec 23, 2025. (File photo: CNA/Raydza Rahman)
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SINGAPORE: The Workers’ Party (WP) will be introducing a motion in parliament on Tuesday (Aug 4) calling for an “economy of the future” that works for all Singaporeans.
Tabled by WP Members of Parliament (MPs) Kenneth Tiong (WP-Aljunied) and Jamus Lim (WP-Sengkang), the motion will present the opposition party’s vision for such a future and its own “economic playbook”.
The motion proposes that the House 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 economic engine driven by dynamic local companies, healthy domestic demand, and Singaporeans and Singaporean capital venturing abroad”.
This is notwithstanding suggestions in the Economic Strategy Review (ESR) report on the future Singapore economy, said the party.
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In a press briefing at the WP headquarters on Saturday (Aug 1), Mr Tiong described the motion as a “meaningful statement” of what the party believes to be an economic structure that works with Singaporeans at its heart.
“If I could sum up the motion in a question, it would be: ‘How does an ordinary Singaporean get a lasting share of our country’s success?’” he said.
“This is our attempt to answer the pressing questions of the day and to write our own economic playbook.”
Associate Professor Lim said that the party hopes to convey “a sense of complementarity” to the government’s vision for the future economy based on the ESR, which released its final report on Jun 24.
“We want to ensure that the message that we send both reacts to the report, but is also distinct from the report, so that we’re not just reacting to the government’s vision, but presenting our very own,” he added.
“We think that there are still some gaps in that vision, and we provide both an alternative vision and a way forward that we think fills in many of these gaps.”
SUGGESTIONS TO BE RAISED
Singapore launched the ESR in August last year, amid structural shifts including geopolitical realignments and technological disruptions.
The ESR comprises five committees which have since submitted 32 recommendations to the government following engagements and consultations with trade associations and chambers, unions, businesses and workers.
When asked by CNA to elaborate on the suggestions that the party will be raising, Assoc Prof Lim said all the speeches by the WP MPs will be motivated by what they think are “intuitive questions” about the economy.
He then said his speech will cover how Singapore can create a business climate in which dynamic local firms can emerge and succeed.
Mr Tiong then added that his speech will bring up ideas on funding research and development. Responding to separate question, he said the WP MPs will also be addressing how Singapore can foster a “dynamic enterprise and innovation ecosystem” that maximises value in spite of high business costs and physical constraints.
In a press release, the WP said that the motion speaks for Singaporeans who feel that the economy is “no longer working for them”.
This includes groups such as young Singaporeans who have “done everything asked of them and still struggle to find their footing in the world”, as well as the small local businesses that employ the majority of Singaporeans but “find it harder each year to keep going”.
“Though their circumstances may differ, the underlying question is the same: is this economy working for all Singaporeans?” said the party.
“That is the question this motion asks the House to confront, and the challenges we face today are why we believe it is time to re-envision Singapore’s economic future.”
Source: CNA/mt(nj)
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