Prime Minister Lee Hsien Loong's National Day Rally speech yesterday laid out the broad picture for Singapore as it makes its way into the endemic phase of the coronavirus pandemic. PM Lee took up sensitive social issues whose contours have been sharpened by the stresses brought about by Covid-19. One key message of his speech is that, even as Singapore survives its worst economic crisis since independence, it is necessary to move away from drawing down reserves to support workers and companies, although that was an essential step at the height of the pandemic. Now, the challenge is to generate new growth, jobs and prosperity for the future. The answer lies in preserving the Republic's status as a business hub, attracting more foreign investment, and helping Singapore companies and entrepreneurs to grow. Indeed, while the times continue to be dismal, they have thrown up unsuspected signs of resilience as Singapore businesses fought back against economic dislocation through innovative measures and an eager grip of digitisation. How well a firm does under stress is a good indicator of how quickly and sustainably it will bounce back when the situation improves.

Looking to the everyday Singaporeans who run the economy, PM Lee announced initiatives on the Workfare and Progressive Wage Model fronts. Lower-wage workers have been battered particularly badly by the pandemic because, not only are their jobs less secure and are they more likely to be laid off, but also, they have fewer savings to tide them over periods of unemployment. PM Lee addressed as well the job anxieties of middle-income Singaporeans by focusing on the terms under which foreign workers, especially work pass holders, function in Singapore. The Tripartite Alliance for Fair and Progressive Employment Practices framework will be strengthened by giving its guidelines legal teeth and through the creation of a tribunal to deal with workplace discrimination. These moves should convince recalcitrant employers that discrimination is taken very seriously in this country.