SINGAPORE: Singapore should consider allocating more support to local companies that have a track record of results and can contribute to the economy, said Workers’ Party Non-Constituency MP Leon Perera on Thursday , in what he described as a “strategic results-based” approach.
“This is a call for strategic results-based support to develop local entrepreneurs in ways that benefit domestic employment,” he said.Other suggestions Mr Perera made in his speech include tapping more on fiscal resources to drive research and development, as well as having a programme that can inform and nudge workers in sectors that are at risk from Industry 4.0 to switch to high-growth industries.These, he said, may help to address issues in three areas.
He suggested building an “adjustment mechanism” for future conditions into policy making, “rather than leaving it to future acts of executive discretion which may or may not happen”. “Should our reserves always go up and up at the same rate? Can we not have reasonable conversations about how to vary the slope of reserves growth, while agreeing that the principal should only be drawn down in an emergency?
He raised Sweden as an example, where a ban on such vehicles scheduled for 2030 has seen electricity demand out-growing capacity in the local grids. This is forcing charging networks for EVs to compete with other infrastructure projects for electricity, he said.Singapore has plans to expand the charging infrastructure for EVs to 28,000 points by 2030, from the current 1,600, it was announced in last week’s Budget statement.
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