11. Report of the Committee on the Future Economy (CFE) – Serving The People

by Patrick Liew on February 15, 2017

In the final analysis, the motives, means and ends of economic development is to improve Singaporean’s quality of life. That should be the focus and basis for evaluating success of the CFE’s recommendations.

Therefore, we need to address challenges of an aging population and potential fault lines that can divide and polarize our people.

These fault lines include widening income or wealth gap, limitations in social mobility, and deep-seated poverty in some quarters of society.

From a macroeconomic perspective, we have to continue to work on inclusive growth, including ensuring that none of our people are being left behind.

We have to continue to design fiscal policies that will help redistribute wealth in a more equitable way.

Just as importantly, we need to build on the “one united people” spirit, and strengthen families and communities.

Develop a home where Singaporeans can have a deep sense of rootedness and belonging. A home that we can be proud of and where we believe we can find purpose, happiness and fulfillment.

We should continue to look out for each other and look after the last, the least, the lonely, and the lost both in our land and overseas.

As a people, we must have the self-efficacy to believe we can battle all odds so that we will secure our future as a vital hub for the new world.

To do so, we need to balance top-down initiatives with more bottom-up and peer-to-peer initiatives to shape and influence our culture and ecosystem for stronger growth.
Strengthen our tripartite system and continue to encourage the public, private and people sectors to connect, collaborate and co-create solutions for a brighter future.


I hope this message will find a place in your heart.

By the way, I have also recorded other reflections.

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