WP leader Pritam Singh emphasizes support for workers and SMEs, highlighting rising costs, global tensions, and the need for innovative policies.
SINGAPORE: In this year’s May Day Statement, The Workers’ Party (WP) emphasized the pressing challenges facing Singapore, including rising global tensions, escalating costs of living and business operations, and the urgency of protecting workers. As the nation prepares for leadership transition with Lawrence Wong set to become Prime Minister, WP Secretary-General and Leader of the Opposition, Mr. Pritam Singh, expressed hope for positive change and renewed the party’s commitment to advocating for Singaporeans.
“Singapore enters a new chapter ahead; there is hope things may be done differently,” Mr. Singh stated, extending his wishes for a Happy Labour Day to all workers.
Addressing Economic Pressures
Mr. Singh highlighted both external pressures, such as Middle East conflicts and U.S.-China rivalries, and internal concerns like persistent inflation, which economists recently identified as a critical issue for the incoming administration.
The WP leader also noted rising job insecurity, with two in five Singaporeans worried about layoffs amid news of firm closures and relocations to other Southeast Asian countries.
Small and medium enterprises (SMEs), which account for over 70% of Singapore’s workforce, are particularly vulnerable, Mr. Singh said. He cited the struggles of micro-businesses like hawkers and restaurateurs, calling 2024 a “tough year” marked by high-interest rates and the recent GST increase to 9%.
Supporting SMEs and Workers
To address these challenges, WP has advocated for increased government support for SMEs, including subsidies for rental costs, talent acquisition, and international expansion.
“By helping SMEs with non-wage costs, we hope they can continue driving entrepreneurship, innovation, and employment while offering competitive wages for our workers,” Mr. Singh added.
The WP also renewed its call for a Redundancy Insurance Scheme to provide financial security to retrenched workers and urged more effective reskilling programs for Singaporeans.
Legislative Advocacy
During the recent Committee of Supply debate, WP dedicated 14 speeches to the Ministry of Manpower’s budget, advocating for:
Mandating retrenchment benefits for employees.
Collaborating with the Education Ministry to enhance reskilling initiatives.
Including accommodations for Persons with Disabilities in upcoming Workplace Fairness Legislation.
As Singapore faces economic and social uncertainties, Mr. Singh reiterated the WP’s resolve to reflect the concerns of workers and SMEs, ensuring sustainable growth and fair labour policies for all.
