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Dangers of 'please-all economics' real, S'pore must make hard choices: PM Lee

Published on Jun 16, 2014 5:45 PM
 
Prime Minister Lee Hsien Loong speaks at the National Junior College 45th Anniversary at the Grand Ballroom, Mandarin Orchard Singapore. Singapore must acknowledge and address serious trade-offs facing the country, Prime Minister Lee Hsien Loong said in a Facebook post on Monday that was prompted by an article warning of the perils of "please-all economics". -- ST PHOTO: MARK CHEONG

Singapore must acknowledge and address serious trade-offs facing the country as it moves to improve people's welfare while ensuring jobs and economic opportunities for the future, Prime Minister Lee Hsien Loong said in a Facebook post on Monday that was prompted by an article warning of the perils of "please-all economics".

The article was written by Reuters columnist Andy Mukherjee and published in The Straits Times on Saturday.

Mr Mukherjee wrote that with Singaporeans demanding a bigger retirement nest egg, more subsidied healthcare and housing, and yet being against admitting more foreigners or raising the consumption tax, the Government faced a long-term challenge of "squaring this fiscal circle".

Mr Lee described the piece as "thoughtful" and wrote: "It explains clearly the issues and trade-offs Singapore faces in building our ideal society, while ensuring that Singaporeans have jobs and economic opportunities to build better lives and a brighter future."

 
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