Here's an excerpt from the conversation:
Annie Koh, professor at SMU:
If you relate it to what Steven was asking, "Alright, I'm worried about jobs, I'm worried about retrenchments," you need to look at it side by side with the job assurance scheme and the programmes that are coming from there.
And if you can get productivity levels up, then the higher wages could be justified. So we actually have to look at the whole thing as Singaporeans, not just as consumers, but Singaporeans as producers as well.
Steven Chia, host:
Because that way, if I can do better, then my income will increase, and therefore I won't feel the pinch so much, right?
Chua Yeow Hwee, assistant professor at NTU:
That's right. And to add on ... CDC vouchers shouldn't be normalised too much. So in fact, everybody's expecting CDC vouchers all the time. Me too, definitely (but) I don't think we should normalise it.
Steven:
But it's already normalised. It's too late, right? I mean, now we all expect it. We keep getting it.
Yeow Hwee:
We keep getting it. So unlike GST vouchers, which are to help the lower income households, which is more formalised in a way.
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Annie Koh, professor at SMU:
If you relate it to what Steven was asking, "Alright, I'm worried about jobs, I'm worried about retrenchments," you need to look at it side by side with the job assurance scheme and the programmes that are coming from there.
And if you can get productivity levels up, then the higher wages could be justified. So we actually have to look at the whole thing as Singaporeans, not just as consumers, but Singaporeans as producers as well.
Steven Chia, host:
Because that way, if I can do better, then my income will increase, and therefore I won't feel the pinch so much, right?
Chua Yeow Hwee, assistant professor at NTU:
That's right. And to add on ... CDC vouchers shouldn't be normalised too much. So in fact, everybody's expecting CDC vouchers all the time. Me too, definitely (but) I don't think we should normalise it.
Steven:
But it's already normalised. It's too late, right? I mean, now we all expect it. We keep getting it.
Yeow Hwee:
We keep getting it. So unlike GST vouchers, which are to help the lower income households, which is more formalised in a way.
Continue reading...