Budget 2016 Debate Round-Up Speech by Minister for Finance Heng Swee Keat on 6 April 2016
Budget 2016 'is but one step in a longer journey' for Singapore
Larger goal is to make every Singaporean a winner in the long run, says Heng as he wraps up debate
By Yasmine Yahya, Assistant Business Editor, The Straits Times, 7 Apr 2016
Parliament yesterday wrapped up the debate on the Government's Budget, with Finance Minister Heng Swee Keat saying it signalled the country's determination to transform its economy for the future and keep Singapore thriving.
Rounding up the debate in which 53 MPs spoke over three days, he said that while the Budget was focused on businesses, especially help for small and medium-sized enterprises (SMEs), this would lead to better jobs for workers.
Budget 2016's support for seniors through Silver Support payouts was also about helping the families taking care of them.
And its measures for the young, from pre-school subsidies to KidStart for those from low-income homes, will enable them to seize opportunities, build good careers and, in turn, support their loved ones.
The Budget, Mr Heng said, is "our first step in our journey towards SG100". To embark on this journey, companies have to transform themselves for long-term growth, and workers have to continually learn skills that the world needs.
And everyone should look out and care for one another as a community, he added.
"It is not possible for the Government to keep handing out goodies to everyone, year after year. Instead, each Budget must build on the previous ones to carry forward the momentum to future Budgets."
People should not assess the Budget just by how much they stand to gain, as the larger goal is "to make every Singaporean a winner in the long run", Mr Heng said.
He added: "When we invest in our young, to help them maximise their potential and seize opportunities, we are helping to ensure they will have the means to support their loved ones in their retirement. And when we keep our tax burden low, especially for the middle-income, everyone benefits."
Mr Heng noted that this year's Budget is tilted towards helping SMEs tackle short-term challenges without getting in the way of changes for them to stay competitive.
In fact, he added, Budget 2016 marks a move to the next phase of Singapore's restructuring journey through the Industry Transformation Programme, which adopts a more targeted approach in helping companies. Several MPs had lauded it over the past two days.
Innovation must be pervasive, he said, noting that the new SG Innovate will connect start-ups to funds and help bring solutions to market.
Singapore also has to create the right jobs, develop the right skills and enable the right match between the two. Businesses and workers have a part to play - investing in staff training and tapping the SkillsFuture scheme.
Several MPs had, in the past two days, noted that Singapore's spending needs will rise in the coming years but revenue growth will slow.
Mr Heng said this means Singapore must build a vibrant economy and grow its revenues, spend prudently and right, and design a fiscal system that is fair and progressive.
The road ahead will be bumpy and full of unknowns - both good and bad, he added, calling on Singaporeans to work together, and draw on their spirit of enterprise and caring for one another.
"The purpose of this journey is to journey together, and to reach our destination together as one united cohesive people," he said. "We must look out and care for one another as we journey."
He added: "There are many innovations ahead of us that we cannot yet imagine, many personal and shared triumphs, many moments of humanity, unity and beauty that will keep defining our Singapore."
The House also debated plans for the Home Affairs and Law ministries yesterday. It will discuss plans for the Foreign Affairs, Defence and Trade and Industry ministries today.
In his speech yesterday wrapping up the Budget debate, Finance Minister Heng Swee Keat responded to concerns raised by 53 MPs over the past three days. He touched on what businesses and workers need to do, as well as social support measures and the need for a progressive yet sustainable tax system.
Government can help but firms must take initiative
By Chia Yan Min, Economics Correspondent, The Straits Times, 7 Apr 2016
Companies are grappling with the slowing economy and mounting cost pressures, but there is only so much the Government can and should do to help, Finance Minister Heng Swee Keat said yesterday.
While the Budget contains some measures to help viable companies tide over the rough patch, Mr Heng said businesses must be able to compete by relying on productivity and innovation in the long run, instead of depending on low costs.
Over three days of debate, MPs had called for more help for small and medium-sized enterprises hit by the economic slowdown.
The minister acknowledged their concerns, noting that it is vital to ensure viable companies survive the current period of cyclical weakness. However, the Government "cannot permanently subsidise costs".
Resources such as space and labour will remain costly here as they are scarce, which means firms cannot treat the Republic as a low-cost location. "Enterprising firms understand this, and build their business models with these hard constraints in mind," Mr Heng added.
The Government's role is to shape macroeconomic conditions to support growth - and companies themselves have to take the initiative to restructure and become more productive to thrive, he said.
He noted that some MPs had warned against government support becoming a crutch for companies. Citing a metaphor used by business leader Stephen Koh, Mr Heng said: "Government support is like push-starting a car that has gotten stuck in a difficult patch.
"It can get the car going again, but the Government cannot be pushing the car for miles and miles... once the car is moving, it has to rely on its own engine to go for the long haul."
In successful economies that have produced many world-leading firms, governments have played "an enabling role" in helping enterprising individuals and businesses go further than they could have on their own, he noted.
Mr Heng quoted Ms Lee Bee Wah (Nee Soon GRC), who had said that in the short term, firms expect some fish from the Government to keep workers fed, but "ultimately, the country will run out of fish if they don't develop eager, smarter and faster ships to get fish from international waters".
He added: "The Government can help businesses to develop bigger, smarter and faster ships, but ultimately, the captains of industry must navigate the ships and help our firms go the distance."
Get the right skills, match with right jobs
By Jacqueline Woo, The Straits Times, 7 Apr 2016
The key to tackling people's job worries in the current economic slowdown is to create the right jobs, arm workers with the right skills and then match them rightly, Finance Minister Heng Swee Keat said yesterday in Parliament.
This approach will also help Singaporeans get good jobs and stay employable, he added in his wrap-up speech of the Budget debate.
"I understand the anxieties of Singaporeans - it is not just jobs, it is about our families. We cannot take for granted there will be good jobs and incomes in the future," he said.
The Government, however, has in place schemes to transform industries that will help develop new companies and train workers in new skills for employment.
But to produce high-value jobs that match Singaporeans' aspirations, companies need to be competitive and productive, he said.
This is where the new Industry Transformation Programme plays an important role, especially in spurring the creation of jobs that require new skills.
Citing precision engineering firm Feinmetall, he said it is reaping the benefits of innovating and redesigning jobs, and improving the skills of its workers.
The company had sent a young employee, Mr Winson Ng, 26, for training in Germany and he came up with a way to automate a process in semiconductor wafer testing.
His innovation helped increase productivity by four times and reduced training time for the process from nine months to one week.
The shortened training allowed staff to be redeployed to higher value-added jobs in the firm.
Mr Heng said: "Employers play a very, very critical role in enabling the development of their people, not just in upgrading their firms.
"I hope all firms will invest in their people, young and old, and start a virtuous cycle of higher skills, higher productivity, higher wages which can then be reinvested to develop the firm further."
To help develop the right skills in workers to do these jobs, the minister pointed to the SkillsFuture programme, which will deepen people's efforts in lifelong learning.
He said more will be done to help job seekers find the right match.
The new Adapt and Grow programme, for instance, will give support to more Singaporeans to reskill and gain employment.
More details on it will be given by Manpower Minister Lim Swee Say during the upcoming debate on his ministry's plans and programmes.
The TechSkills Accelerator for the information and communications technology sector will also take skills and job matching efforts further, especially as new industries and new types of jobs emerge.
Mr Heng stressed that it is critical to "sustain the long-term vitality of our labour market".
He also said the Government will study MPs' ideas on ways to improve the labour market, such as auctioning the right to hire foreign manpower and giving Singaporeans retrenchment benefits.
But it needs to be cautious in how it intervenes in the labour market, Mr Heng said, agreeing with Nominated MP Randolph Tan.
"We cannot simply copy one bit from one country and then another piece from another, and hope to make sense of it," said Mr Heng.
"There has to be a clear philosophy and a clear sense that the various measures must cohere to be effective over the long term. Most importantly, we must not undermine the sense of independence and efficacy, and the spirit of self-reliance and resilience in our people."
Support for young and old alike
By Charissa Yong, The Straits Times, 7 Apr 2016
In the first 18 months of a newborn's life, his parents can receive at least $15,000 for his care from the Government.
A retiree living in a three-room or larger Housing Board flat received on average $5,000 in state transfers last year, mostly in the form of healthcare subsidies.
These figures were given by Finance Minister Heng Swee Keat to illustrate the extent to which the young are given a good footing to achieve their potential and the elderly, to grow old gracefully.
Middle-income earners are not forgotten in the Government's effort to support all Singaporeans.
Many of them pay little or no income tax, receive support in housing and healthcare, and can use SkillsFuture credits to pay for courses to upgrade their skills.
"All these measures are not as direct as putting money in people's pocket, but it has meaningful long- term impact on the careers and future of Singaporeans.
"The most important support for all Singaporeans, including the middle-income, is employability and good jobs," he said.
The Government's goal is to build an inclusive, resilient society that cares for its members, with more for lower-income families, he said.
Mr Heng focused on these three groups yesterday, especially young children and seniors, as several MPs had championed their cause.
He listed the monetary help given to babies and education subsidies for school-going children.
Seniors can also feel assured about meeting their basic needs with Silver Support, which gives the elderly poor a basic allowance.
But payouts will be made every three months and in advance instead of every month as this gives seniors the flexibility to manage their expenses, Mr Heng added.
Equally important are the programmes for the poor and needy, and to promote volunteerism, like a new scheme that supports businesses to partner charities.
But even as state support increases, Singaporeans should hold on to their spirit of self-reliance, he said.
"We must be cautious that Silver Support does not undermine values such as filial piety, or lead to a divisive mentality among citizens."
Singaporeans had to take care of one another and solve community problems as one, he added, saying: "It is not through the Government's efforts alone, but a collective effort, that we can build a caring and resilient society."
See Budget measures in totality
By Janice Heng, The Straits Times, 7 Apr 2016
The new $80,000 cap on the personal income tax relief that a Singaporean can claim has upset some working mums.
However, there is a good reason for it, Finance Minister Heng Swee Keat indicated in Parliament yesterday when rounding up the debate on the Budget for the new financial year.
He explained that to ensure Singapore's tax and spending system is sustainable, the entire regime has to be fair and progressive.
These two features are the reason for the new move, he said in his reply to three MPs who had expressed concern about the cap during the Budget debate.
Mr Heng also made the broader point that Budget measures should be seen in totality and not be judged solely by their impact on one individual in a given year.
In explaining the cap, Mr Heng highlighted three musts for ensuring Singapore's future spending needs can be met. These are a vibrant economy, prudent spending, plus a fair and progressive fiscal system.
In Singapore, there are 15 types of personal income tax relief and, taken together, they can "unduly reduce total taxable income" for a few taxpayers, he added.
The new $80,000 cap will thus maintain fairness among different groups of taxpayers and increase progressivity, he said.
Further, the vast majority of taxpayers - 99 per cent - are unaffected, he said.
As for working mums claiming child relief - a group highlighted by Ms Lee Bee Wah (Nee Soon GRC), Ms Joan Pereira (Tanjong Pagar GRC) and Ms Tin Pei Ling (MacPherson) - Mr Heng said nine in 10 are not affected by the cap.
This includes those with more children, he added.
For working mums claiming child relief on two or three children, more than eight in 10 are not expected to be affected.
He also stressed to MPs that it is important not to evaluate Budget measures "solely from the individual's perspective in a particular year".
"We should not be narrowly focused on individual winners and losers," he said.
Mr Heng cited Nominated MP Kuik Shiao-Yin's speech on Tuesday, when she warned against the mindset that citizens are in a "high-stakes competition of win-lose".
He said: "Instead, our larger goal is to make every Singaporean a winner in the long run.
"When we help one group, we are actually helping others too."
For instance, Budget measures that support small and medium- sized enterprises will also support good jobs for workers.
Supporting seniors helps the families that care for them, while investing in the young ensures they have the means to support their own families in the future.
"So we have to see it in totality and over the long term, and not just one measure or another, one group versus another, and one year versus another year," he said.
Age is no barrier to learning
By Joanna Seow, The Straits Times, 7 Apr 2016
Logistics executive Ong Moh Hong, 68, had 29 years of experience in the industry when he joined Pan Asia Logistics two years ago. But he faced a steep learning curve.
The company was launching a second warehouse facility with a new information technology system. Mr Ong had used an automated system to pick goods at his previous company, but this one was more complex and had a different interface.
"I felt a bit lost, I didn't know where to start because it was completely new," he said.
But within two months, he had familiarised himself with the system and was helping younger workers.
Pan Asia's senior manager for operations Sundaram Velosamy taught Mr Ong and his younger colleagues how to use the software, after being part of the team to bring in the automated warehouse management system that he saw on a study trip to Germany.
Mr Sundaram, 52, also mentors those who work under him, helping them identify their skill levels when they join the company and their training needs as they progress.
"I make sure my managers mentor people under them too," he said.
Mr Sundaram himself had, since starting work in 1989, upgraded his skills from an O-level certificate to a degree in logistics. He plans to take up a master's degree next.
Both Mr Sundaram and Mr Ong were held up by Finance Minister Heng Swee Keat yesterday as role models for lifelong learning and mentoring.
Mr Heng also held up their company for treasuring and training older workers, and "for creating an inclusive culture of constant development for their staff".
From the gallery: No silver bullet, everyone has a part to play
By Aaron Low, Deputy Business Editor, The Straits Times, 7 Apr 2016
Throughout his 90-minute speech to round up the debate on the Budget yesterday, Finance Minister Heng Swee Keat cited real-life examples of individuals and companies to illustrate how they have overcome challenges.
They serve as clear examples of how success can be wrought even as the economy restructures. But behind the smiling faces and inspirational stories is a sober message: Firms and workers have to change, and need to do so quickly.
There is a lot at stake. After 50 years of stellar growth, Singapore faces an uncertain future, one in which there are no longer any textbook answers, said Mr Heng.
"We know where we want to go, we know where we come from. It is the in-between, the getting there, that is full of unknowables," he said.
Within Singapore, the working population is ageing rapidly while physical resources such as land are limited. Externally, competition is rising not just from countries, but from technology - a big disruptor of industries and firms. Trade patterns are shifting, with the US and China preferring to manufacture goods at home, thus shrinking markets for local firms, Mr Heng noted.
What's a small country like Singapore, which has survived by forcing itself to be relevant to everyone else, to do? The answer: Take cold, calculated risks on three fronts.
One, the Government will no longer look to help every company, but move to a targeted approach, as it has done on social policy. Instead of helping weaker companies, assistance will be extended to those that can innovate and thrive.
Mr Heng couched this in polite language and called it fostering a "spirit of enterprise".
Yet there was a steely response to calls for more help for firms to cope with the short-term slowdown: "One way of supporting this spirit of enterprise is to make sure that viable firms can survive this period of cyclical weakness. Otherwise we lose precious capabilities that are difficult to rebuild later and our people's livelihoods could also be at stake." The Government has to be judicious in choosing who to help "so our finite resources will not be trapped in 'zombie' businesses, as Mr Ong Teng Koon (Marsiling-Yew Tee GRC) warned and in particular our workers will not be trapped in firms in sectors with poor prospects," said Mr Heng.
This swing towards companies that heed the call to transform their businesses is a sign that the Government is more prepared to help those who help themselves. As for companies that complain about costs, he stated simply that the Government cannot permanently provide subsidies to keep costs low.
Again, his message was firm: If this meant weaker, less innovative companies have to fold, well, that's just the cost of restructuring.
Two, the Government is clearly shifting emphasis to focus support on local enterprises. Budget 2016 was tilted towards SMEs and helping small firms grow through programmes like the $450 million Automation Support package.
Much of Singapore's success in the developmental years was based on wooing big foreign firms to set up here. The way forward was to get investments and technical knowledge to grow the economy.
Foreign investment remains important. But the Government has started to focus fire-power on local SMEs, which have had a patchy record of success. Also, only a handful of home-grown companies - take Singapore Airlines - can call themselves world beaters.
There is a risk that such investments may not spawn the Facebooks of tomorrow. But with the bulk of the economy made up of local firms, there is no choice but to grow them and hope for success.
The third area in which Singapore has to take more risks is in trusting its people and firms to come up with solutions. The Government does not pretend to have all the answers.
For example, when it comes to nurturing innovation, there is no "textbook answer", Mr Heng said.
"So in Government, we too need to embrace the spirit of enterprise. We have some clear ideas of where we need to go, what we need to do. But we must be humble and have to figure it out dynamically, learning and improving and improvising as we go along and working in partnership with businesses."
That is why the Budget's theme has been about partnerships: people working with firms and the Government. This is the best, though not guaranteed, chance of finding the solutions. But it means the Government will not only have to work with firms and trade groups, but also consider new and potentially radical suggestions. It can show its willingness during deliberations of the Committee on the Future Economy.
There are no silver bullets or easy answers to the challenges ahead. But if Singapore is to survive, everyone has to try hard- not sit back and expect to be bailed out.
Day 2 of Budget debate turns focus to people
Many MPs' speeches centre on the human aspect when discussing hard policy questions
By Janice Heng, The Straits Times, 6 Apr 2016
After an opening day focused on numbers and measures for companies amid a challenging economy, yesterday's Parliament debate resounded with stories of people who were helped but also hurt by policy.
On the second day of debate on the Government's Budget for the new financial year, many of the 25 MPs who spoke filled their speeches with anecdotes and focused on the human aspect when discussing hard policy questions.
Singapore's economic transformation remained a major topic, but suggestions now focused more on mindsets than metrics.
Ms Denise Phua (Jalan Besar GRC) suggested that firms and workers could be profiled by ability, attitude and vision, so support could be tailored for each group.
Ms Lee Bee Wah (Nee Soon GRC) and Mr Lim Biow Chuan (Mountbatten) zeroed in on human obstacles to change. Both called for small and medium-sized firms to get help in navigating the complexities of government grants, so that they do not need to approach consultants.
Even in suggesting concrete measures to help workers, MPs stressed the importance of mindsets.
Labour MP Zainal Sapari (Pasir Ris-Punggol GRC) noted that service buyers in contract-based, low-income industries such as cleaning and security must have the right mindset if workers are to benefit. Buyers should adopt performance-based rather than headcount-based contracts, to give service providers an incentive to improve productivity, he said.
Workers' Party MP Muhamad Faisal Abdul Manap (Aljunied GRC) was concerned about the potential human impact of Budget initiatives such as incentives for automation, saying these could cause job losses.
Nominated MP K. Thanaletchimi, a National Trades Union Congress central committee member, raised the need for not just training grants, but also psychological support for workers changing careers.
Hard policy aside, some MPs also looked at softer cultural issues.
NMP Azmoon Ahmad shared how his father would dismantle parts of his Vespa scooter engine for him to clean. It sparked his inquisitiveness and got him interested in innovation, which he said ought to be nurtured from a young age.
NMP Kok Heng Leun spoke on the importance of art, while fellow NMP Kuik Shiao-Yin identified two "cultural roadblocks to transformation" - fear and scarcity thinking. Ms Kuik said the fear-based "kiasu" culture does not drive people to create value, and scarcity thinking encourages selfishness rather than care.
MPs also picked up on the theme of resilience from Finance Minister Heng Swee Keat's Budget speech on March 24. Non-Constituency MP Dennis Tan suggested encouraging young people to join certain co-curricular activities such as uniformed groups to foster resilience.
Mr Darryl David (Ang Mo Kio GRC) applauded the focus on outdoor adventure education, sharing his own experience with taking his children to a tree-top adventure course. He was one of many MPs who related real-life tales, from stories of mature workers successfully changing careers, to residents' demands at Meet-the-People Sessions.
No ministers spoke yesterday. Today, Mr Heng will respond to MPs' comments when the Budget debate continues. MPs will then vote to approve the Budget. This will be followed by debate in the Committee of Supply, in which MPs file "cuts" that give them time to speak on each ministry's spending plans.
Give targeted help for workers facing problems
The debate of Budget 2016 continued yesterday as 25 MPs discussed the economic goals for the financial year. They talked about the right culture for entrepreneurship to thrive, support for working mothers, and help for workers of different income levels. Chong Zi Liang reports.
The Straits Times, 6 Apr 2016
MPs continued to highlight the difficulties faced by workers at different income levels.
Mr Zainal Sapari (Paris Ris-Punggol GRC), spotlighting low-wage workers, recounted how a cleaning company lost its contract with a statutory board because it had factored in a one-month bonus for its workers.
The cleaners went to work at another company and lost their employment benefits. They were also paid less.
"There are many Singaporeans working in the low-income sectors who face stagnating wages and are resigned to the fact that their situation won't change," he said.
Mr Zainal, who is assistant secretary-general of the National Trades Union Congress, urged the Government to target a higher percentage rise in real wages for earners at the 20th income percentile, who now do not enjoy as big an increase as those in the better-paid 50th percentile.
Professionals, managers, executives and technicians are also hit hard in the current economic slowdown, MPs said.
Dr Lily Neo (Jalan Besar GRC) wants more incentive schemes and coaches for retrenched workers to persuade them to switch to the growing IT sector.
Nominated MP K. Thanaletchimi, a veteran unionist, said those laid off should not only get training grants, but also support from mentors to help them adapt quickly to their new work environment.
Do more to support working mums
By Chong Zi Liang, The Straits Times, 6 Apr 2016
Almost half of the MPs who spoke yesterday asked for more to be done to help working mothers juggle family and career.
The current operating hours of childcare facilities make it hard for parents who have to travel overseas for work or do not hold office- hour jobs, said Mr Gan Thiam Poh (Ang Mo Kio GRC).
Mr Gan wants 24-hour childcare services to be set up for them.
He and Ms Tin Pei Ling (MacPherson) also suggested the Government explore ways to help parents find nannies for their children as an alternative to childcare centres.
Another issue MPs raised was the personal income tax relief cap of $80,000, which affects mainly high-earning mothers.
Ms Joan Pereira (Tanjong Pagar GRC) said the cap should not apply to widowed or divorced mothers, as they face the challenge of raising their children on their own.
Other MPs called for the children of unwed parents to be given benefits, such as the Child Development Account First Step grant and KidStart programme, which children of needy families enjoy.
Mr Faisal Manap (Aljunied GRC) said illegitimate children have the same needs as those whose parents are married.
They should not be treated differently because of what their parents did, he said.
Create culture for innovation to bloom
By Chong Zi Liang, The Straits Times, 6 Apr 2016
Several MPs called for a change of mindset in society so that creative businesses can flourish.
Nominated MP Kuik Shiao-Yin took aim at the "kiasu culture" that she said drives entrepreneurs here to enter saturated markets instead of coming up with original business concepts.
That is why coffee joints are sprouting up today just like bubble tea shops had in the past, she said.
She also said a kiasu person would pursue things of questionable worth as long as he sees everyone doing so, adding: "Kill kiasu culture already."
Nominated MP Azmoon Ahmad said a culture of innovation has to be fostered from a young age. He suggested that schools should teach subjects that encourage transformative thinking.
Others said firms would have to change their habits so that true reforms can take place.
Ms Lee Bee Wah (Nee Soon GRC) said a business owner had told her that cheap foreign labour was like a drug that his company was having difficulty weaning itself off. She also said some companies have become over-reliant on government grants to stay afloat.
She said firms should look to the example of pioneer Cabinet minister Lim Kim San, who came up with a machine to produce sago pearls shortly after World War II.
"He didn't wait around for the Government to give any research grants or Productivity and Innovation Credit for machinery purchase," Ms Lee said.
'Kiasu' culture is stifling originality in business: NMP Kuik Shiao-Yin
Fear of failure is breeding entrepreneurs who are just grant-chasers: Kuik Shiao-Yin
By Chia Yan Min, Economics Correspondent, The Straits Times, 6 Apr 2016
Singapore's "kiasu" culture got a drubbing from a Nominated MP yesterday who said it was a major block in the way of building a more innovative society.
Entrepreneur Kuik Shiao-Yin, 39, said Singaporeans' fear of failure has led to a lack of originality in the local entrepreneurship scene.
It is time for a deep cultural transformation in Singapore, she said in an impassioned speech that departs from those of many MPs, who tend to talk of specific government measures that provide grants to help them in their business.
Her intense focus on the need for cultural change got MPs thumping their armrests in approval.
Ms Kuik's sentiments were shared by other MPs yesterday, with several warning that Singaporeans' unwillingness to leave their comfort zone has hampered the development of new ideas here.
They, as well as Singapore companies, are not hungry enough, the MPs said, urging them to be more driven to stay ahead of the competition.
Ms Kuik's speech, however, was the most hard-hitting, as she blamed the "kiasu" culture for creating a subculture of "grantrepreneurs" - people who "call themselves entrepreneurs but are really just grant-chasers".
"The kiasu entrepreneur is driven by the anxiety to make short gains rather than a mindful desire to win at the long game, so he will only take the risks that everyone is already taking and innovate what everyone else is already innovating.
"That's why entrepreneurship here tends to lack originality and is just copy-and-paste work of little worth," she added.
The biggest barriers to Singapore becoming a more innovative, collaborative and inclusive society are "fundamentally human", said Ms Kuik, co-founder of a group of social enterprises called The Thought Collective.
She added: "Even as Singapore develops roadmaps for industry transformation, it should also draw up matching roadmaps for the long-term psychological and emotional transformation of its people."
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