At the core of Singapore's economy is the participation of foreign workers. Former Minister Mentor Lee Kuan Yew has said that without such guest workers, our economy would collapse. Additionally, he indicated that in 2010 “we've grown in the last five years by just importing labour." (emphasis added)
Given such a scenario, it is to be expected that Finance Minister Tharman Shanmugaratnam, in releasing the 2012 Budget, has focused on the subject of foreign workers and the issue of productivity. Sadly, however, he has said nothing new. Full story
