A In a previous article in this column, on Sept 26, my colleague Chia Ngee Choon and her co-author Chia Han Mae wrote about why some pro-natalist policies such as the Baby Bonus have not worked.
Their recommendation was to focus on policy measures that lower the long-term cost of rearing children. Affordability is a valid consideration. If raising a child with high human capital content is going to consume a large proportion of parental lifetime income that constrains other lifestyle expenses, including retirement, parents are unlikely to aim for a larger family.
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