Finance Minister Lawrence Wong Fires Back at PSP’s “Too‑Fast‑For‑Slow” Riddle
On a bright September 14, the Singapore Parliament was the stage for a one‑liner that left the room buzzing: “If we curb foreign talent, we’ll block good jobs for Singaporeans – a classic case of cutting‑off one’s own nose for the sake of saving the rest.” That’s the gist of Finance Minister Lawrence Wong’s rousing call to keep the island’s doors open to global firms.
Why “Code of Rude” Torch the Progress Singapore Party (PSP)
Wong zoomed in on the PSP’s core complaint: the belief that slashing the number of foreign workers would magically give less‑than‑average locals a shot at every role. He labelled this line of thought “fatally flawed” and warned that tightening restrictions could drive companies overseas, crushing jobs for everyone.
He also said the PSP’s view feels stuck in a nostalgic, “back‑to‑the‑day‑when‑Singapore‑was‑not‑as‑fast‑grown” mindset – a throwback to the 1990s when half of the PMET (Professional, Managerial, Executive, Technical) workforce consisted of Singaporeans.
Wong’s Charts: Numbers That Tie the Argument Together
- Median real‑income growth (2010‑2019): 3.2 % per year for Singapore residents.
- Local PMET jobs added (2010‑2020): Roughly 300,000 more positions for Singaporeans.
- Foreign work‑pass holders (2010‑2020): Up by about 110,000, but only 20 % of the PMET workforce.
- Current vacancy pile: More than 25,000 unfilled PMET roles waiting for the right talent.
Given all these facts, how does the PSP convince anyone that turning away foreign talent will fill the job gaps? “We’ll just pick unlucky numbers,” he asked the parliament.
Wong’s Rationale: The Global Marketplace Is a Win‑Win Playground
“When firms come in, they bring the tech, the capital, the network – not just a handful of jobs for locals, but a whole ecosystem of opportunities,” Wong said. The minister stressed that a healthy diversity of workforce – locals and foreign talent – is what gives Singaporea strategic edge in the world’s economic arena.
He also lamented the stigma that a foreign PMET may face in hiring. A case highlighted by the government was an Indian Singaporean who asked whether he should tag himself as “Singapore Citizen” on his résumé – only to move left with the hope it would smooth his marketability. Wong raised the question of national identity, citizenship, and the “anti‑foreigner” rhetoric that can grate society’s fabric.
Open Economy: The Argument for Isn’t Just a Convention
- Global competition is real – no business hub can dodge it.
- But complementing local talent with foreign talent can create a bigger pie | smaller slice is worthless.
- By protecting every worker – not just every job – the government keeps the on‑ground workforce ready and competitive.
Wong’s Closing Curtain: Prioritizing PPTs, Not Tows
“We have no silver bullets,” he summed up. “We’ll keep doing hard thinking and honest dialogue. The challenges are hard and we avoid the quickfix – because that’s not how we operate.” The minister closed on a hopeful note: “When the pie shrinks, we’ll rally, not fight.”
Bottom Line: All in for the Future of Singapore, Not a One‑Shot
Wong’s talk reaffirms the government’s stance: the smartest path forward is an open, inclusive economy that nurtures Singaporean careers while welcoming international business. It’s a mission to keep the national cake fresh, big, and socially tasty for everyone.
