Consumers must be willing to pay more in order to raise wages, but difficult issue to tackle amid rising living costs: DPM Wong

"Basically, we cannot demand for services delivered by our fellow citizens to be priced cheaply, and in the same breath lament their wages are too low," said Mr Wong, speaking at a conference on the perspectives of work organised by the Institute of Policy Studies .he raised last year on the growing divergence in salaries between workers of different educational backgrounds.

"That’s why we will have to manage this economic restructuring carefully, and the Government will do whatever we can to provide support during the transition," he said."It is also about shifting our perceptions towards work, and embracing a broader definition of what counts as ‘good jobs’; for us to recognise skills and competencies rather than be overly focused on paper qualifications.

Mr Wong said that there is always a temptation to compare with others and to see who is “better”, but sometimes these comparisons are motivated by the desire to acquire status and social prestige, and these are"wrong reasons".for labelling an S$80 bag a"luxury bag". "I wish things were different," said Mr Wong."But I am a realist and I know it’s not going to be easy to change these mindsets."

In his speech, Mr Wong touched on challenges facing the workforce in the future, such as how technological advancements in the workplace may lead to some being left behind.

It's so easy because Singaporeans will just pay the price. That is why real inflation is so high. Rentals go up, consumer price go up. GST go up, higher material costs is just passed on to consumer thru higher prices.

This is encouraging companies to increase profitability by increasing prices instead of focusing on productivity and value addition.

Who’s gonna tell him… LOL

We are struggling so hard to make ends meet.

Isn’t that the reason why GST has to be raised ? 🤔🤔🤔

not supply and demand? with all the foreigners coming into this country, its a wonder if prices of goods and services don't go up... anyway, soon your pet expats will also leave the place for greener and cheaper pastures... obviously your scholars planners are out of touch...

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