Addressing the concerns of the day

Since 1966, when Singapore’s founding prime minister Lee Kuan Yew addressed the National Day Rally, this annual speech has become the most important political oration of the year because it defines key challenges facing Singapore, goals to transform the country, and strategies and policies to achieve those goals. This year’s speech,

delivered by Prime Minister Lee Hsien Loong on Sunday,

lies firmly within a political tradition of acknowledging problems candidly and finding administrative solutions that are economically and socially viable. Today’s problems reflect growing anxiety over jobs, housing and the cost of living. PM Lee’s speech assured Singaporeans that a government aware of public concerns has come up with measures to assuage them.

Those measures are fivefold. First, Housing Board flats will be kept affordable while maintaining a good social mix in every town and ensuring that the housing system is fair to everyone. Second, a $7 billion retirement support package will benefit about 1.4 million older Singaporeans, especially those in their 50s and early 60s, who constitute a demographic of “young seniors” – citizens who might have to care for both the young and the old in their families. Third, temporary financial support will be provided to those who lose their jobs in order for them to meet immediate needs as they upgrade their skills. Fourth, a more friendly physical environment awaits seniors. Fifth, political succession plans are back on track after the hiatus caused by the Covid-19 pandemic, so that Singapore does not suffer from political instability that will stymie its efforts to face up to global challenges such as the Ukraine war, persisting dissonance in Sino-American relations, and stubborn inflation.